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Time of India
a day ago
- Business
- Time of India
Analysts trim estimates on Persistent amid valuation and growth concerns
ET Intelligence Group: Persistent Systems has lost nearly 8% on bourses after declaring the June quarter numbers on July 23, which were below analysts' expectations. The company's sequential revenue growth in dollar terms has been decelerating gradually since the past four quarters amid sluggishness in the healthcare vertical . Given the order pipeline, the mid-tier IT exporter expects a recovery in this vertical in the coming quarters. While the company is confident of meeting its FY27 revenue target of $2 billion, some analysts find its current valuation to be steep given the short-term project delays. Productivity Tool Zero to Hero in Microsoft Excel: Complete Excel guide By Metla Sudha Sekhar View Program Finance Introduction to Technical Analysis & Candlestick Theory By Dinesh Nagpal View Program Finance Financial Literacy i e Lets Crack the Billionaire Code By CA Rahul Gupta View Program Digital Marketing Digital Marketing Masterclass by Neil Patel By Neil Patel View Program Finance Technical Analysis Demystified- A Complete Guide to Trading By Kunal Patel View Program Productivity Tool Excel Essentials to Expert: Your Complete Guide By Study at home View Program Artificial Intelligence AI For Business Professionals Batch 2 By Ansh Mehra View Program The sequential growth in revenue at $389.7 million slowed down to 3.9% in the June quarter from 5.6% in the year-ago quarter. According to Vinit Teredesai, CFO, the current growth rate reflects organic business momentum given the fact that faster growth in the past was fuelled by acquisitions. In addition, the healthcare division, which contributes over one-fourth to revenue, has been reporting slower momentum after growing at a faster rate in the past. Its revenue dropped by 2.2% sequentially in the June quarter to $98.5 million due to a planned transfer of onsite work to offshore and project delays. Teredesai expects a gradual recovery in the vertical over the next two quarters going by the mew deals momentum. Agencies The company has been facing a slower pace of decision-making in recent times but it has so far not undergone any pricing pressure. The company's overall order book grew by 12.5% year-on-year to $520.8 million in the June quarter. It, however, remained flat on a sequential basis, reflecting the cautious approach by clients. The proportion of new deals improved to 64.7% from 63.6% in the previous quarter but was lower than 67.2% in the year-ago quarter. Live Events Revenue in rupee terms rose by 2.8% sequentially to ₹3,333.6 crore while net profit grew by 7.4% to ₹4,24.9 crore. The operating margin (EBIT margin) fell by a tad 10 basis points to 15.5% compared with the quarter ago. The company has deferred salary increase for employees by one quarter, which is likely to support margin in the September quarter. It expects to improve the operating profitability by 100 basis points for FY26 compared with 14.7% margin in FY25. Emkay Global Financial Services has slashed earnings estimates by around 2% for FY26-28. Broking firm has retained a 'reduce' call on stock citing rich valuation. On other hand, Motilal Oswal Financial Services has reiterated a 'buy' call with a target price of ₹6,800 given company's consistent execution and growth visibility. Stock was last traded at ₹5,169 on Tuesday on BSE.
Time of India
2 days ago
- Politics
- Time of India
Normal for Parliament security to enter House: Deputy Chair on Mallikarjun Kharge's CISF charge
Rajya Sabha deputy chairman Harivansh on Tuesday said the issue of special intensive revision (SIR) of electoral rolls in Bihar cannot be discussed in the House since the matter is sub judice and urged Opposition members to do some self-introspection rather than resort to regular disruptions of the proceedings. Talking about the letter from the leader of Opposition Mallikarjun Kharge about Central Industrial Security Force ( CISF ) personnel entering the House, the deputy chairman lamented the letter being released to the media by Kharge. He stated that it is normal for parliamentary security to come inside the House. Productivity Tool Zero to Hero in Microsoft Excel: Complete Excel guide By Metla Sudha Sekhar View Program Finance Introduction to Technical Analysis & Candlestick Theory By Dinesh Nagpal View Program Finance Financial Literacy i e Lets Crack the Billionaire Code By CA Rahul Gupta View Program Digital Marketing Digital Marketing Masterclass by Neil Patel By Neil Patel View Program Finance Technical Analysis Demystified- A Complete Guide to Trading By Kunal Patel View Program Productivity Tool Excel Essentials to Expert: Your Complete Guide By Study at home View Program Artificial Intelligence AI For Business Professionals Batch 2 By Ansh Mehra View Program Harivansh highlighted several incidents in the current session involving "unruly behaviour" by members trying to disrupt the proceedings of the House. Kharge, quoting former leader of the House Arun Jaitley, said 'disruption is a legitimate weapon of democracy'. The chair agreed that the members have the right to dissent but said it should be exercised from their respective seats and not from the well of the House or by disturbing other members on their seats. The Opposition has been demanding discussion on SIR in Bihar and several other subjects under Rule 267 which has been regularly denied by the chair. "Some members have been consistently raising varied issues including those that are sub judice or pertain to matters within the jurisdiction of state governments that cannot be raised in the House. Some other members are giving notices on different subjects daily which are in the nature of issues to be raised during zero hour or special mention. It, prima facie, appears that members are themselves not sure on which subject they want to seek suspension of listed business of the day," Harivansh said. Live Events He quoted former Lok Sabha Speaker Balram Jakhar who held in the Lok Sabha that he cannot make any comment upon the actions and decisions of the Election Commission. The deputy chairman stressed that the matter of SIR is sub judice and cannot be discussed in the House. "Regarding raising of sub judice matter, restriction has been self-imposed by Parliament in consideration of the fact that deliberations in a House on a matter which is before the court might influence the latter and thus, the sub judice rule has found a place in the Rules of both Houses of Parliament," Harivansh said. Union parliamentary affairs minister Kiren Rijiju accused Kharge of misleading the House. "The Opposition has alleged that the government deployed personnel from the Army, police and CISF. However, the chair clarified that no external military or police forces were deployed. Only the House marshals were present. Apart from marshals, only members and staff are permitted entry. The Opposition spread falsehood through media... They attempted to lower the decorum of the House,' he told media persons.
Time of India
2 days ago
- Politics
- Time of India
Former J&K Governor Satyapal Malik passes away
Satypal Malik, who served as governor of four states in five years from 2017 to 2022 and was often in the news for his controversial remarks, passed away on Tuesday. Known as a farmer leader who began his political journey in Bharatiya Kranti Dal and served as MLA in Uttar Pradesh in the 1970 before becoming a member of Lok Sabha and then the Rajya Sabha. Malik was 79. After a long stint with the parties across the political spectrum barring the Left, Malik joined the BJP and contested the 2004 Lok Sabha elections from Baghpat in Uttar Pradesh. A prominent farmer leader who enjoyed wide support in his Jat community, Malik was often fielded by BJP to reach out to the voters in western UP between 2004 and 2014 when the party was in the Opposition. In 2012, he was appointed as one of the national Vice Presidents of BJP. Productivity Tool Zero to Hero in Microsoft Excel: Complete Excel guide By Metla Sudha Sekhar View Program Finance Introduction to Technical Analysis & Candlestick Theory By Dinesh Nagpal View Program Finance Financial Literacy i e Lets Crack the Billionaire Code By CA Rahul Gupta View Program Digital Marketing Digital Marketing Masterclass by Neil Patel By Neil Patel View Program Finance Technical Analysis Demystified- A Complete Guide to Trading By Kunal Patel View Program Productivity Tool Excel Essentials to Expert: Your Complete Guide By Study at home View Program Artificial Intelligence AI For Business Professionals Batch 2 By Ansh Mehra View Program Under the Narendra Modi-led NDA government that was formed in 2014, Malik was appointed governor of Bihar in September 2017. In less than a year, he was moved to the Jammu and Kashmir Raj Bhavan in August 2018. The abrogation of Article 370 that gave special status to J&K was done during his governorship on August 5, 2019. Jammu & Kashmir and Ladakh were made Union Territories and Malik served as Lieutenant Governor till October when he was made Governor of Goa. In August 2020, he was moved to Meghalaya. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Your Car Insurance Is Ripping You Off – See How Much You Should REALLY Be Paying AutoTrends Malik was often in the thick of controversies due to his outspoken remarks. As governor of Goa he said governors usually have no real work and are known playing golf and sipping wine. After his stint as governor ended in 2022, he made several bitter remarks against Prime Minister Modi on the Pulwama terror attack of February 2019. He had several conspiracy theories about the blast that killed 40 soldiers. Malik had been ailing for some months and passed away at the Ram Manohar Lohia hospital in the national capital. Live Events Malik became an MLA in 1974 from Baghpat in UP from Charan Singh-led Bharatiya Kranti Dal. He was elected to Rajya Sabha for two terms in 1980 and 1986 but quit in 1989 during his second term to become a Lok Sabha member from Aligarh. His term in the Lower House ended in 1991 when the next general elections were held. A party hopper, Malik was with BKD, Janata Dal, Congress, Lok Dal, Samajwadi Party and BJP at different points in his long career.
Time of India
2 days ago
- Politics
- Time of India
Bihar elections: Lalu's son Tej Pratap announces alliance with VVIP, other minor parties after removal from RJD
As the battle for Bihar heats up, former RJD leader and Lalu Yadav 's son, Tej Pratap, on Tuesday announced alliance with Vikas Vanchit Insaan Party and other minor parties to fight the state assembly polls together. "The theme and objective of our coalition are absolutely clear. We will move forward together in Bihar to ensure social justice, social rights, and complete transformation. If the public gives us the mandate to win, we pledge to work towards the complete development of Bihar. We will also work to fulfill the dreams of Lohia, Karpoori, and Jai Prakash Narayan ji," said Tej Pratap Yadav in a post on X. Productivity Tool Zero to Hero in Microsoft Excel: Complete Excel guide By Metla Sudha Sekhar View Program Finance Introduction to Technical Analysis & Candlestick Theory By Dinesh Nagpal View Program Finance Financial Literacy i e Lets Crack the Billionaire Code By CA Rahul Gupta View Program Digital Marketing Digital Marketing Masterclass by Neil Patel By Neil Patel View Program Finance Technical Analysis Demystified- A Complete Guide to Trading By Kunal Patel View Program Productivity Tool Excel Essentials to Expert: Your Complete Guide By Study at home View Program Artificial Intelligence AI For Business Professionals Batch 2 By Ansh Mehra View Program Yadav, who was recently expelled from RJD by his father and party supremo Lalu Prasad, made the announcement at a press conference, which was also attended by the national presidents of the five parties. The five parties are Vikas Vanchit Insaan Party (VVIP), Bhojpuriya Jan Morcha (BJM), Pragatisheel Janta Party (PJP), Wajib Adhikar Party (WAP) and Sanyukt Kisan Vikas Party (SKVP). Yadav said he will contest the assembly polls, due later this year, from Mahua seat, which he had represented till 2020 before the RJD shifted him to Hasanpur.
Time of India
2 days ago
- Politics
- Time of India
'I trust Nitish Kumar...': Chirag Paswan accuses Opposition of 'amplifying' his remarks to project rift in NDA
Lok Janshakti Party (Ram Vilas) President and Union Minister Chirag Paswan accused the Opposition parties in Bihar of attempting to project a rift in the National Democratic Alliance (NDA) by "amplifying" his previous remarks on the law and order situation in the state. In July, Chirag Paswan had said that he felt sorry to be supporting the government in Bihar, "which is failing on the law and order front like this." His statement came in the wake of the gang-rape of a Bihar Military Police aspirant in Bodh Gaya on July 24, and the recent spate of violent crime in Bihar. Productivity Tool Zero to Hero in Microsoft Excel: Complete Excel guide By Metla Sudha Sekhar View Program Finance Introduction to Technical Analysis & Candlestick Theory By Dinesh Nagpal View Program Finance Financial Literacy i e Lets Crack the Billionaire Code By CA Rahul Gupta View Program Digital Marketing Digital Marketing Masterclass by Neil Patel By Neil Patel View Program Finance Technical Analysis Demystified- A Complete Guide to Trading By Kunal Patel View Program Productivity Tool Excel Essentials to Expert: Your Complete Guide By Study at home View Program Artificial Intelligence AI For Business Professionals Batch 2 By Ansh Mehra View Program Speaking to ANI, Paswan clarified that his remarks were made in his capacity as a public representative and a partner in the ruling alliance. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like SRM Online MBA | India's top ranked institute SRM Online Learn More Undo "I try to put forward the points of the people before the government through this alliance. I am a part of the government and I have got that platform to put forth my views... Since I am not a part of the government in Bihar, I am supporting the government, so when I come across instances that add to the problems of Biharis, such as the law and order issue, I try to strongly keep it before the government so that actions are taken," Chirag Paswan told ANI. He alleged that the Opposition is deliberately misinterpreting his statements to create confusion among the public. Live Events "The opposition tries to mislead people about my words, indicating I am repeating my mistakes... NDA alliance is a winning combination in Bihar... We will win more than 225 seats and form the government. Hum Sath Sath Hain. The opposition tries its best to show a rift between us by amplifying my words. I trust Nitish Kumar and his governance," he said. Taking a swipe at Rashtriya Janata Dal (RJD) leader Tejashwi Yadav, Paswan criticised the party's traditional MY (Muslim-Yadav) vote base and said his vision stands for "Mahilayein-Yuva." "While Tejashwi Yadav is carrying on with the same old MY (Muslim-Yadav) arrangement of their party. His ideology is different, which promotes communalism and casteism. My MY arrangements stand for Mahilayein-Yuva," Paswan said. Paswan reiterated his commitment to his development-focused campaign, 'Bihar First, Bihari First.' "My idea is to develop Bihar with the slogan ' Bihar First Bihari First '. I have worked extensively on this. I have a solution to all problems in Bihar," Paswan said.
