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The Latest Breaking News from Persistent Systems

Quant Mid Cap Fund exits Reliance Industries and 3 others, adds BHEL, 1 other stock in June

Quant Mid Cap Fund exited Reliance Industries and three other stocks in June while adding BHEL and L&T Technology Services to its portfolio, according to ACE MF data. The fund sold 21.38 lakh RIL shares worth Rs 282 crore and also exited PB Fintech, Torrent Pharmaceuticals and Oracle Financial Services…

The Economic Times

TCS, Infosys, Wipro & other IT stocks fall more than 2%. Here's why

Indian IT stocks such as TCS, Infosys, Wipro, HCLTech, Tech Mahindra, Persistent Systems and Coforge declined up to 2.5% after IBM plunged 25% in its steepest-ever one-day fall on weak preliminary quarterly results. The negative sentiment spilled over to US-listed Indian IT firms, with Infosys and Wipro ADRs falling up…

The Economic Times

Carnegie Fonder questions Persistent Systems' Nagarro acquisition, cites growth concerns

In an open letter on professional networking website LinkedIn, portfolio manager Gunnar Pahlson questioned the logic of paying a 140% premium for a slower-growing, lower-margin European business exposed to cyclical industrial and automotive clients, including accounts tied to Lufthansa and Volkswagen.

The Economic Times

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In key structural shift, debt becomes the big new vehicle as Indian IT goes deal-shopping

Indian IT firms are increasingly embracing debt financing for major acquisitions, a departure from their traditional debt-free approach. This is aimed at bolstering AI capabilities, expanding market reach and accelerating growth. Companies like Persistent Systems are leveraging significant financing for strategic takeovers, reflecting a broader industry trend.

The Economic Times

Infosys, TCS and other IT stocks jump up to 5% on dip buying. Is the worst over?

IT stocks rebounded sharply on Thursday, with the Nifty IT index surging nearly 4% after a four-session slide that pushed it to a 52-week low. Coforge led gains with a 5% jump, while Infosys, Mphasis, HCL Tech and Persistent Systems rose around 4%. The recovery lifted sentiment after the sector…

The Economic Times

HDFC Bank valuations attractive, banking sector ready for next growth phase: Sandip Sabharwal

Market expert Sandip Sabharwal sees private banks entering a robust phase driven by accelerating credit growth and easing margin pressures. He finds HDFC Bank's valuation attractive despite leadership uncertainties, while noting operational challenges from the merger are largely behind. Sabharwal also highlights opportunities in auto stocks post-correction and remains constructive…

The Economic Times

Persistent's Nagarro deal faces near-term doubts, but long-term story stays strong: Piyush Pandey

Persistent Systems' acquisition of Nagarro triggered an 11% stock drop, with investors worried about integration and margins. However, market expert Piyush Pandey believes this is an overreaction. The deal offers significant long-term strategic benefits, including expanded vertical access and a stronger European presence, positioning Persistent for larger global deals. While…

The Economic Times

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Ahead of Market: 10 things that will decide stock market action on Tuesday

Indian equities ended lower, snapping a two-day rally as escalating Iran-US tensions and profit booking weighed on sentiment. Sensex fell 372 points and Nifty lost 110, while analysts advised a buy-on-dips strategy above the key 23,800 support level.

The Economic Times

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

Persistent Systems' shares plunged nearly 11% following its announcement to acquire Germany-based Nagarro for €1.27 billion. While the deal aims to boost European presence and revenue, brokerages expressed caution over pricey valuations and execution risks.

The Economic Times

Persistent Systems shares slide 10% after Nagarro deal; Elara retains 'Sell' on growth, margin worries

Persistent Systems' shares dropped significantly following its announcement to acquire German digital engineering firm Nagarro for approximately EUR 1.27 billion. While this move aims to boost European presence and revenue, analysts express concerns about near-term growth and profitability impacts due to the premium acquisition price and Nagarro's weaker financial performance.…

The Economic Times

Stocks in news: Waaree Energies, Kotak Bank, HDFC Bank, Strides Pharma, Persistent Systems

Indian markets showed volatility, ending nearly flat despite positive signals. Analysts note Nifty faces resistance from key moving averages, with a decisive close above 24,200 crucial for further gains. Several companies like Waaree Energies, Kotak Bank, and Tata Motors are in focus due to significant developments, including US investigations, strategic…

The Economic Times

Persistent Systems to acquire Nagarro; combined entity to generate $2.9 billion in annualised revenue

Indian IT firm Persistent Systems is making a significant move by launching a takeover bid for German digital engineering company Nagarro SE. This potential acquisition, valued at approximately 140% above Nagarro's undisturbed share price, aims to create a global tech powerhouse with nearly $2.9 billion in annual revenue and over…

The Economic Times

Indian IT firms step up Europe expansion as growth outpaces North America

Indian IT firms are increasingly focusing on Europe for growth, with a significant rise in new delivery centres and strategic investments. This shift is driven by client cost pressures and a surge in AI adoption, creating substantial opportunities for localised solutions and modernisation projects across the continent.

The Economic Times

Infosys, OFSS, TechM, other IT stocks gain up to 3% despite weak market sentiment. Here's why

IT stocks such as Infosys and Oracle Financial Services Software gained, while LTIMindtree, Coforge, Tech Mahindra, Mphasis and Persistent Systems also posted strong gains. Meanwhile, the BSE Sensex and Nifty 50 dropped over 1% as the rupee hit a record low and bond yields surged to all-time highs.

The Economic Times

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The Economic Times

Oracle leaves freshers in limbo; D2C carts go cold

Happy Friday! Oracle has started pulling back campus offers from top institutes, leaving students caught in the crossfire. This and more in today’s ETtech Morning Dispatch.

The Economic Times

IT services giants in a bind as mid-caps soak up the revenue

Mid-tier IT services firms are outperforming larger rivals in revenue growth, driven by a focused approach on specific growth areas like cloud engineering and AI. Companies like Coforge and Persistent Systems are leveraging leaner structures and domain expertise to win clients, often through flexible pricing and outcome-based models.

Salon

Title 42 and the real border surge

Out-trumping Trump at the border

The Times of India

Gujarat IT-IT enabled services policy lures sector biggies

AHMEDABAD: Gujarat, a state which once was said to have missed the IT bus, is now attracting big-ticket investments in IT and ITes sectors, reports Parag Dave. Samsung, IBM and Tech Mahindra are scouting for offices in Ahmedabad and GIFT City, eyeing to set up customer support, data, research, and…

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