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Persistent Systems trims intraday gains tracking fund selling

Capital Market 

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

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

On BSE, so far 12,000 were traded in the counter as against average daily volume of 13,487 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.

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(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Mon, November 28 2016. 11:40 IST