Persistent Systems rises on acquiring 100% stake in Akshat Corporation

06 Jul 2015

Persistent Systems is currently trading at Rs. 619.95, up by 3.15 points or 0.51% from its previous closing of Rs 616.80 on the BSE.

The scrip opened at Rs 610.20 and has touched a high and low of Rs 622.40 and Rs. 603.20 respectively. So far 11917 shares were traded on the counter.

The BSE group 'A' stock of face value Rs. 10 has touched a 52 week high of Rs. 960.83 on 02-Jan-2015 and a 52 week low of Rs. 543.05 on 04-Jul-2014.

Last one week high and low of the scrip stood at Rs. 627.45 and Rs. 577.00 respectively. The current market cap of the company is Rs. 4934.40 crore.

The promoters holding in the company stood at 38.55% while Institutions and Non-Institutions held 32.26% and 29.19% respectively.

Persistent Systems has on July 03, 2015 acquired all of the stock of Akshat Corporation (which does business under the name of RGEN Solutions) through Persistent Systems Inc., wholly owned subsidiary of the company, incorporated In California, USA. This transaction has been closed.

Persistent Systems is a global company specializing in software product and technology services. Persistent develops best-in-class solutions in key next-generation technology areas including Analytics, Big Data, Cloud Computing, Mobility and Social, for the telecommunications, life sciences, healthcare, and banking & financial services verticals.

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Puchho Befikar
SEBI Registered: Investment Adviser - INA000013323
Research Analyst - INH000000719

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