Page 22 - Persistent Systems News Today

“As weve continued monitoring and diving into the Indian VC ecosystem, one of our investment indicators, “Total Market Capitalization of VC-Backed Companies Public in India,” crossed $50B,” Sethi wrote in a LinkedIn post.

Analysts say the IT space offers reasonable valuations compared to their historical averages, a rarity in the ongoing bull run in the market

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Shares of Wipro have bounced back strongly, gaining 12% to ₹422 apiece from the November low of ₹377. This resurgence has positioned the stock in close proximity to its 52-week high of ₹443.75 apiece.

After an almost 73 percent jump in the stock in 2023 YTD, brokerage house Axis Securities has chosen Persistent Systems as its top pick of the week. The brokerage has a ‘buy’ recommendation on the stock with a target price of ₹7,115, indicating an upside of 10%.

India Business News: Despite challenges, the IT services industry in India continues to be the highest paying sector for CEOs, with seven out of the top 10 highest earning

Based on the OI percentage, 63 stocks saw long unwinding, including Coromandel International, SAIL, ONGC, Polycab India, and Sun TV Network.

Even as the Nifty IT index has marginally underperformed the broader Nifty50 on three, six and 12-month basis, the midcap and smallcap IT stocks have outrun all indices, Nuvama said, adding that some quality tier-2 IT firms delivered "eye-popping returns".

Persistent Systems Ltd. key Products/Revenue Segments include Software Services and Software Licence for the year ending 31-Mar-2023.

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