Persistent Systems hits record high; soars 16% in 2 days on strong Q1 show

The company expects to sustain the healthy growth momentum in the Services business, based on the robust deal intake and a healthy deal pipeline

Shares of Persistent Systems hit a new high of Rs 3,294.95, up 8 per cent on the BSE in the intra-day trade on Monday, having surged 16 per cent in the past two trading days, after the company reported a strong set of numbers for the quarter ended June 2021 (Q1FY22). Besides, in the past three months, the stock of information technology (IT) consulting & software company has zoomed 70 per cent, as compared to a 9 per cent rise in the S&P BSE Sensex.

In Q1FY22, the company's revenue grew 9.2 per cent quarter on quarter (QoQ) and