Persistent Systems rallies after bagging deal from ATOSS

Persistent Systems gained 3.54% to Rs 4,668.85 after ATOSS, a Germany-based software provider for workforce management, selected the IT company to transform its customer relationship management with the help of Salesforce integrations.

ATOSS will use the company's Salesforce platform to automate sales, integrate with existing back-end systems and introduce customer service and event management. Persistent will first implement Sales Cloud to replace and redefine the current sales and service processes at ATOSS.

The project will advance ATOSS' strategic goals of long-term customer loyalty through sustainable growth, standardization, and optimization of business processes, supported by cloud transformation, transformation of geographic research and organizational transformation.

The company's stock also saw buying demand after consulting major Accenture on Thursday reported strong first-quarter results and raised business outlook for fiscal 2022. For fiscal 2022, Accenture expects revenue growth to be in the range of 19% to 22% in local currency, compared with 12% to 15% previously. It continues to expect operating margin for the full fiscal year to be in the range of 15.2% to 15.4%, an expansion of 10 to 30 basis points from fiscal 2021.

Persistent Systems is a global services and solutions company delivering digital engineering and enterprise modernization services. The IT company reported 6.9% rise in consolidated net profit to Rs 161.75 crore on a 9.9% increase in revenue to Rs 1,351.24 crore in Q2 FY22 over Q1 FY22.

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