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The Economic Times
The Economic Times
Debaroti Adhikary

Rs 8,350 crore crash in Persistent shares explained: Why investors are worried about Nagarro deal

Nagarro Persistent Persistent Systems Emkay Europe Nomura Germany ICICI Securities JM Financial Motilal Oswal

Nomura and several other brokerages remained cautious on Persistent Systems after the IT company's shares tumbled nearly 11% on Monday, erasing nearly Rs 8,353 crore from its market capitalisation following its announcement to acquire Germany-based Nagarro at an enterprise value of €1.27 billion (around Rs 13,667 crore).

Shares of Persistent Systems fell to a fresh 52-week low of Rs 4,312 apiece on the NSE. The stock is on track to record its worst single-day loss since October 2018.

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