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.
Growth was supported by the Cigniti acquisition, which delivered 3.5 per cent CC Q-o-Q growth, while margins were led largely by Cigniti Ebitda margin of 17.3 per cent, which was up 100bps Q-o-Q.
Meanwhile, to achieve these goals, Persistent Systems has outlined a strategic roadmap that includes - segmenting its verticals into sub-verticals for deeper focus, doubling down on its Top 100 clients (which currently contribute ~80 per cent of revenues), strengthening its engagement with GCCs and infusing AI into every aspect of its service offerings.
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