Latest news with #PersistentSystemsLtd
Business Standard
3 days ago
- Business
- Business Standard
Quick Wrap: Nifty IT Index records a surge of 1.67%
Nifty IT index ended up 1.67% at 38299.95 today. The index has added 7.00% over last one month. Among the constituents, Oracle Financial Services Software Ltd jumped 3.61%, Persistent Systems Ltd added 2.69% and Mphasis Ltd gained 2.63%. The Nifty IT index has increased 11.00% over last one year compared to the 7.93% spike in benchmark Nifty 50 index. In other indices, Nifty Realty index has slid 1.14% and Nifty Media index gained 1.09% on the day. In broad markets, the Nifty 50 recorded a gain of 0.00% to close at 25104.25 while the SENSEX has declined 0.06% to close at 82391.72 by Capital Market - Live News
Business Standard
3 days ago
- Business
- Business Standard
Persistent Systems Ltd soars 2.84%, rises for fifth straight session
Persistent Systems Ltd is quoting at Rs 5955, up 2.84% on the day as on 12:44 IST on the NSE. The stock is up 59.49% in last one year as compared to a 8.04% spurt in NIFTY and a 11.21% spurt in the Nifty IT. Persistent Systems Ltd is up for a fifth straight session in a row. The stock is quoting at Rs 5955, up 2.84% on the day as on 12:44 IST on the NSE. The benchmark NIFTY is up around 0.13% on the day, quoting at 25136.5. The Sensex is at 82493.19, up 0.06%. Persistent Systems Ltd has risen around 1.34% in last one month. Meanwhile, Nifty IT index of which Persistent Systems Ltd is a constituent, has risen around 0.31% in last one month and is currently quoting at 37669.2, up 1.95% on the day. The volume in the stock stood at 7.14 lakh shares today, compared to the daily average of 4.3 lakh shares in last one month. The benchmark June futures contract for the stock is quoting at Rs 5974.5, up 2.8% on the day. Persistent Systems Ltd is up 59.49% in last one year as compared to a 8.04% spurt in NIFTY and a 11.21% spurt in the Nifty IT index. The PE of the stock is 78.4 based on TTM earnings ending March 25.
Business Upturn
15-05-2025
- Business
- Business Upturn
Persistent Systems share price down nearly 3% today – Here's why
By Aditya Bhagchandani Published on May 15, 2025, 10:25 IST Shares of Persistent Systems Ltd. fell nearly 3% in early trade on May 15, dropping to ₹5,614 after closing at ₹5,758.50 in the previous session. The decline follows concerns surrounding its major client, UnitedHealth Group (UHG), which is reportedly facing a series of regulatory and leadership-related setbacks. According to the Wall Street Journal, the U.S. Department of Justice has been conducting a criminal investigation into UHG's Medicare Advantage division since last year. This development comes shortly after the healthcare giant withdrew its 2025 financial guidance and announced the abrupt resignation of CEO Andrew Witty. Former CEO Stephen Hemsley has returned to the position amid these challenges. Persistent Systems has a significant business relationship with UHG, estimated at over $100 million. The uncertainty surrounding its top client's regulatory and leadership future has sparked investor concerns, leading to a dip in stock sentiment. UnitedHealth has claimed it is unaware of any criminal probe, while the DOJ has declined to comment. Still, the situation adds to an already turbulent start to 2025 for the U.S. healthcare giant, impacting stakeholders globally, including Persistent Systems. Disclaimer: The information provided is for informational purposes only and should not be considered financial or investment advice. Stock market investments are subject to market risks. Always conduct your own research or consult a financial advisor before making investment decisions. Aditya Bhagchandani serves as the Senior Editor and Writer at Business Upturn, where he leads coverage across the Business, Finance, Corporate, and Stock Market segments. With a keen eye for detail and a commitment to journalistic integrity, he not only contributes insightful articles but also oversees editorial direction for the reporting team.
Mint
14-05-2025
- Business
- Mint
Top 3 stocks to buy today: Expert Ankush Bajaj's picks for 14 May
The Indian stock market saw a sharp decline on Tuesday, 13 May, after a heavy sell-off across sectors. The India VIX surged, highlighting increased investor anxiety and volatility. The BSE Sensex ended the day at 81,148.22, down 1281.68 points or 1.55%, while the NSE Nifty 50 slipped 346.35 points or 1.39%, closing at 24,578.30. The Bank Nifty also declined 0.75% and 416.95 points to end at 54,965.90. Top 3 stocks recommended by Ankush Bajaj Buy Persistent Systems Ltd (current price: ₹5,761.00) Buy: Coforge Ltd (current price: ₹8,266.50) Also Read: Another solid year for Coforge given strong deal pipeline? Yes, but… Buy: KEI Industries Ltd (current price: ₹3,425) Also Read: Shareholding moves in Q4: Million new investors flocked to these firms Sectoral Performance The sell-off was broad-based across sectors. The service sector declined 1.60%, reflecting fears of delayed project timelines and cautious investor sentiment. The FMCG index dropped 1.34%, hurt by concerns over rising credit risks amid macro uncertainty. The consumption index slipped 1.22%, impacted by weakness in telecom and business service providers. The Nifty PSU Bank managed to close 1.56% higher, and the pharma sector closed 1.22% up. The healthcare index closed above 0.97%, showing resilience and selective buying in public sector banks. Top Gainers Despite the negative mood, a few stocks outperformed. Bharat Electronics surged 4.01%. Hero MotoCorp gained 1.97%, driven by strong April sales and optimism in its EV segment. Jio Finance advanced 1.71% after announcing strong order inflows. Top Losers Some heavyweight stocks bore the brunt of the sell-off. Infosys fell 3.58%, as financial stocks faced pressure from rising uncertainty. Eternal declined 3.28%, impacted by regulatory concerns and lower investor appetite for defensives. Power Grid Corp. dropped 3.43%, dragged down by weakness in the cement and textile business outlook Nifty Technical Analysis The Nifty saw a flat to negative opening and thereafter remained in a downtrend throughout the day. It closed in the red, down ~346 points, ending the session at 24,578. On the daily charts, the index has formed a Harami candlestick pattern, indicating short-term indecision. However, the broader structure remains weak. The bearish view will persist unless Nifty decisively closes above 24,900. Thus, minor degree pullbacks towards the resistance zone of 24,800–24,900 should be considered as a selling opportunity. India VIX cooled off to 18.20, indicating some reduction in fear, but still suggesting elevated caution in the near term. On the downside, we expect the index to gradually drift towards 24,100, which aligns with previous support zones and option open interest concentration. Also Read: Pidilite's growth gets stickier, but valuation a sore spot Other technical observations On the daily chart, Nifty is trading above the 20-day and 40-day exponential moving averages of 24,139 and 23,771 respectively. On the hourly chart, it is trading below the 20-hour and 40-hour moving averages of 24,516 and 24,485 respectively, suggesting short-term weakness. No fresh moving average crossovers have occurred on either time frame. The daily momentum indicator remains in a negative crossover, which continues to act as a sell signal. Derivatives & Open Interest (OI) Summary The Put–Call Ratio (PCR–OI) has dropped from 1.29 to 0.85, reflecting rising call writing and caution at higher levels. The Max Pain level is at 24,500, indicating traders expect expiry near this mark. On the Call side, heavy OI is seen at 25,000 CE (16.7 million) and 24,800 CE (10.5 million) – creating a resistance zone in the 24,800–25,000 band. On the Put side, the highest OI is at 24,500 PE (10.1 million) and 24,000 PE (9.4 million) – offering strong support between 24,000–24,500. Futures OI data suggests long unwinding earlier in the week, followed by short covering, indicating neutral to bearish positioning. FIIs have turned marginally net long in index futures, while retail and proprietary traders remain hedged. The overall setup suggests that sell-on-rise remains the preferred approach unless Nifty closes above 24,900. The current OI structure and price action point toward a range-bound to negative bias, with 24,000–24,100 acting as a near-term support zone and 25,000 capping the upside. Ankush Bajaj is a Sebi-registered research analyst. His registration number is INH000010441. Investments in securities are subject to market risks. Read all the related documents carefully before investing. Registration granted by Sebi and certification from NISM in no way guarantee performance of the intermediary or provide any assurance of returns to investors. Disclaimer: The views and recommendations given in this article are those of individual analysts. These do not represent the views of Mint. We advise investors to check with certified experts before making any investment decisions.
Business Standard
12-05-2025
- Business
- Business Standard
Quick Wrap: Nifty IT Index gains 6.70%, NIFTY jumps 3.82%
Nifty IT index closed up 6.70% at 38282.55 today. The index has gained 17.00% over last one month. Among the constituents, Oracle Financial Services Software Ltd added 9.01%, Coforge Ltd jumped 8.21% and Persistent Systems Ltd gained 7.96%. The Nifty IT index has soared 16.00% over last one year compared to the 13.01% increase in benchmark Nifty 50 index. In other indices, Nifty Realty index gained 5.93% and Nifty Metal index increased 5.86% on the day. In broad markets, the Nifty 50 witnessed a rise of 3.82% to close at 24924.7 while the SENSEX recorded a gain of 3.74% to close at 82429.9 today.
