Persistent Systems gains as board to consider bonus issue

Persistent Systems rose 2.01% to Rs 1,770 at 15:25 IST on BSE after the company said that the meeting of its board is scheduled on 23-24 January 2015 to consider bonus issue.

Meanwhile, the BSE Sensex was up 353.44 points, or 1.31%, to 27,262.26.

On BSE, so far 63,627 shares were traded in the counter, compared with an average volume of 11,740 shares in the past one quarter.

The stock hit a high of Rs 1,837 and a low of Rs 1,640.05 so far during the day. The stock hit a record high of Rs 1,921.65 on 2 January 2015. The stock hit a 52-week low of Rs 887.15 on 19 May 2014.

The stock had outperformed the market over the past one month till 7 January 2015, rising 8.03% compared with 5.44% fall in the Sensex. The scrip had also outperformed the market in past one quarter, gaining 18.62% as against Sensex's 2.42% rise.

The large-cap IT firm has an equity capital of Rs 40 crore. Face value per share is Rs 10.

The board of Persistent Systems in a two-day meeting on 24 January 2015, will also consider Q3 results and payment of interim dividend, if any, for the financial year ending 31 March 2015 (FY 2015).

Persistent Systems' consolidated net profit rose 3.66% to Rs 71.32 crore on 7.04% rise in total income to Rs 491.12 crore in Q2 September 2014 over Q1 June 2014.

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