Persistent Systems trims intraday gains tracking fund selling

Persistent Systems rose 0.29% to Rs 605 at 11:45 IST on BSE, trimming intraday gains after Nordea Emerging Market Equity Fund offloaded 6.54 lakh shares at an average price of Rs 601.45 per share in a bulk deal on the NSE on Friday, 25 November 2016.

Meanwhile, the S&P BSE Sensex was up 58.52 points or 0.22% at 26,374.86.

On BSE, so far 12,000 shares were traded in the counter as against average daily volume of 13,487 shares in the past one quarter. The stock was volatile. The stock rose as much as 1.45% at the day's high of Rs 612 so far during the day. The stock lost as much as 0.2% at the day's low of Rs 602 so far during the day. The stock had hit a 52-week low of Rs 501.10 on 28 September 2016. The stock had hit a 52-week high of Rs 796.75 on 21 March 2016. The stock had underperformed the market over the past one month till 25 November 2016, declining 8.48% compared with the Sensex's 6.32% fall. The scrip had also underperformed the market in past one quarter, sliding 6.12% as against the Sensex's 5.46% fall.

The mid-cap company has equity capital of Rs 80 crore. Face value per share is Rs 10.

On a consolidated basis, Persistent Systems' net profit rose 0.27% to Rs 73.49 crore on 0.31% growth in net sales to Rs 704.02 crore in Q2 September 2016 over Q1 June 2016.

Persistent Systems builds software that drives the business of our customers; serving software product companies and enterprises with software at the core of their digital transformation.

Powered by Capital Market - Live News