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The mid-tier IT services company currently has over 75 active generative proof of concepts in work. While the revenue is small at the moment, Kalra believes it’s a promising area.
The NSE Nifty index was trading 35.46 points up at 21607.25
Indian benchmark equity indices ended lower in a trading session on Saturday, dragged by information technology companies and Hindustan Unilever, but gains in lenders helped limit some losses.
Hemang Jani says that last year the IT sector has done pretty well. “I would be comfortable entering into these stocks once we have slightly more colour in terms of earnings for next year. While people hope that the growth is going to be 10-12% for largecaps and maybe 16-20% for midcaps, we want to see management commentaries. We would avoid them till there is a clarity on earnings.“
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%.