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Persistent Systems gains on opening first US collaborative software development center in Dublin, Ohio

04 Oct 2013

Persistent Systems is currently trading at Rs. 650.05, up by 7.00 points or 1.09% from its previous closing of Rs. 643.05 on the BSE.

The scrip opened at Rs. 645.00 and has touched a high and low of Rs. 654.30 and Rs. 645.00 respectively.

The BSE group 'B' stock of face value Rs. 10 has touched a 52 week high of Rs. 654.30 on 04-Oct-2013 and a 52 week low of Rs. 408.60 on 10-Oct-2012.

The current market cap of the company is Rs. 2,600.00 crore.

The promoters holding in the company stood at 38.96% while Institutions and Non-Institutions held 34.15% and 26.89% respectively.

Persistent Systems, the global leader in software product development and technology services, has opened its first US-based collaborative software product development center in Dublin, Ohio.  With over 85% of Persistent Systems' business coming from US clients, the establishment of a domestic collaborative software development center allows Persistent Systems to further strengthen and expand its relationships with regional companies in delivering next generation cloud computing, analytics, mobility and social collaboration solutions.

Persistent Systems selected its new facility based on the Columbus Ohio region's available technical talent, proximity to leading academic institutions including The Ohio State University and other regional colleges and universities, central location and excellent access to North American markets. The company will begin hiring immediately for 56 positions and plans to scale up to 100 employees at this site.

Persistent Systems is an OPD specialty company, offering the customers the benefits of offshore delivery. It designs, develops and maintains software systems and solutions, creates new applications and enhances the functionality of the customers’ existing software products. It delivers services across all stages of the product life-cycle, which enables it to work with a wide-range of customers and allows it to develop, enhance and deploy its customers’ software products.

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Persistent Systems Share Price

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Puchho Befikar
SEBI Registered: Investment Adviser - INA000013323