Buy Persistent Systems, target price Rs 2150: Motilal Oswal

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Buy Persistent Systems, target price Rs 2150:  Motilal Oswal


Motilal Oswal has buy call on with a target price of Rs 2150. The current market price of Persistent Systems Ltd. is Rs 1914.9.

Persistent Systems Ltd., incorporated in the year 1990, is a Mid Cap company (having a market cap of Rs 14809.64 Crore) operating in IT Software sector.

Financials
For the quarter ended 31-12-2020, the company reported a Consolidated Total Income of Rs 1105.41 Crore, up 7.92 % from last quarter Total Income of Rs 1024.24 Crore and up 15.45 % from last year same quarter Total Income of Rs 957.50 Crore. Company reported net profit after tax of Rs 120.92 Crore in latest quarter.


Promoter/FII Holdings
Promoters held 31.5 per cent stake in the company as of June 30, 2020, while FIIs held 19.2 per cent, DIIs 27.2 per cent and public and others 22.1 per cent.



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