Persistent Systems shares rise 5% in trade; here's what's boosting rally

Persistent Systems rose 5.4 per cent in Wednesday's trade on BSE, logging an intraday high at Rs 6,211.30 per share. The stock gained after the company announced the launch of ContractAssIst, an AI-driven contract management solution developed in collaboration with Microsoft.

 

Around 12:51 PM, Persistent Systems shares were up 5.19 per cent at Rs 6,197.3 per share on BSE. In comparison, the BSE Sensex was up 0.44 per cent at 76,838.90. The market capitalisation of the company stood at Rs 96,584.92 crore. The 52-week high of the stock was at Rs 6,788.8 per share and the 52-week low was at Rs 3,232.6 per share. 

 

ContractAssIst is developed to deliver advanced contract management capabilities for companies with high volume of contracts from various vendors. Built on Azure AI, the solution ensures secure data handling, advanced search capabilities, and seamless compliance. 

 

It integrates with Microsoft 365 Copilot and Microsoft Teams, providing teams with real-time collaboration tools and AI-enabled decision support, while advanced models like GPT-3.5 and GPT-4 through Azure OpenAI Service enhance contract analysis with natural language processing.  "Addressing key challenges, ContractAssIst consolidates workflows into a centralized dashboard within Microsoft Teams. Its AI-powered chatbot enables conversational queries and offers intelligent suggestions within group chats, reducing delays and optimizing processes." the filing read. 

 

As per the filing, ContractAssIst distinguishes itself through its deep integration with Microsoft technologies and its ability to deliver meaningful, timely intelligence.  Its transparent and auditable workflows enhance internal contract management compliance, mitigating risks and ensuring that enterprises can optimize operations and make confident, data-driven decisions.

 

“At Persistent, our AI-led, platform-driven approach is central to solving complex enterprise challenges with practical, scalable solutions. ContractAssIst, developed in collaboration with Microsoft, exemplifies how we leverage innovative technologies to reimagine heavily manual tasks with AI, such as contract management. This solution is a result of our deep partnership with Microsoft and our shared vision of driving AI adoption to deliver measurable efficiencies and tangible outcomes for our clients,” said Sandeep Kalra, Chief Executive Officer and Executive Director, Persistent Systems. 

 

In the past one year, Persistent Systems shares have gained 53.5 per cent against Sensex's rise of 4.3 per cent.