Analysts attributed the up move to a pullback rally after sharp declines in past sessions. The index is currently 22.72% below its 52-week high of 46,088.90 and is down about 14.8% so far this year.
Firm continues to outperform mid-, large-tier listed IT majors
Technically, Persistent Systems seems to be favourably placed among these 3 IT peers, with the stock now seen quoting above its 200-DMA for the first time in nearly three months.
Persistent Systems in Q2 reported a net profit of ₹471.4 crore in the July-September 2025 period, up 45 per cent year-on-year (Y-o-Y)
Stocks to watch today: Kolte-Patil, Saatvik Green, Thyrocare, Persistent Systems are among other top stocks to track.
During the quarter, Persistent Systems won contracts in the software, hi-tech and emerging industries, banking, financial services, insurance, healthcare, and life sciences verticals
Remuneration of top brass grew 8.7% in FY25, outpacing firms' profits
Even broader markets failed to trade in the green territory. The Nifty midcap 100 was trading at 58,954.15, down by 0.60 per cent.
Infosys shares fell despite analysts remaining positive after the company reported in-line first-quarter earnings
Around 11:10 AM, the Persistent Systems' share was trading 8.24 per cent lower at ₹5,143.50. In comparison, BSE Sensex was down 0.26 per cent at 82,514.88 levels.
Midcaps Persistent Systems and ICRA alongwith smallcap Valiant Labs look technically strong on charts, following the formation of 'Golden Cross' on Wednesday.
These rather are your next-door citizens who have the potential to over-deliver. These same also have experienced around 2.5 per cent positive earnings revisions for FY26 in May, Bernstein said
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Infosys, Persistent Systems and Mphasis are likely to trade with a favourable bias as a key momentum indicator - the MACD has turned positive on the technical charts for these 3 IT stocks.
These 3 midcap stocks, across sectors, have witnessed a positive breakout on different key parameters, show technical charts.
Mid-tier IT company Persistent Systems on Thursday posted a 25 per cent jump in March quarter profit to Rs 395.76 crore. The Pune-headquartered company reported a net profit of Rs 315.32 crore in the year-ago period. Its revenues grew 25.2 per cent to Rs 3,242 crore from Rs 2,591 crore in the year-ago period, while operating profit margin expanded to 15.6 per cent from 14.5 per cent in the year-ago period. Its Chief Financial Officer Vinit Teredesai said the margins will further expand up to 2 percentage points in FY26. Speaking to PTI, he also added that the company is maintaining its aspiration of getting USD 2 billion in revenues by FY26, as against USD 1.4 billion in FY25 despite the ongoing uncertainties. He said it is very difficult to predict the exact outcome for the company from the shift in trade policies, and added that deal signings have become sluggish as customers adopt a cautious stance. The company's new deal signings declined to USD 517.5 million in the reporting
The downturn in IT stocks can be attributed to fears around recession and as manufacturing hubs in China and Taiwan face new tariffs above 30 per cent
At 9:57 AM, the Nifty IT index was trading lower by 2.30 per cent, at 39,612. It touched an intra-day low of 39,465.75 during the session so far.
Why are midcap IT stocks rising today: Persistent Systems share price soared 8 per cent to Rs 6,163.45 per share after the company reported broad-based growth across geographies and segments.
The fall in Persistent Systems share price came in anticipation of December quarter of financial year 2025 (Q3FY25) results, which will be announced later today