Persistent Systems Ltd.

Persistent Systems is currently trading at Rs 325.00, down by 1.85 points or 0.57% from its previous closing of Rs. 326.85 on the BSE.

The scrip opened at Rs 330.00 and has touched a high and low of Rs 330.00 and Rs 320.00 respectively. So far 1108 shares were traded on the counter.

The BSE group 'B' stock of face value Rs 10 has touched a 52 week high of Rs 429.70 on 13-Apr-2011 and a 52 week low of Rs 280.80 on 29-Aug-2011.

Last one week high and low of the scrip stood at Rs 330.90 and Rs 315.50 respectively. The current market cap of the company is Rs 1300.00 crore.

The promoters holding in the company stood at 38.95% while Institutions and Non-Institutions held 32.82% and 28.23% respectively.

Persistent Systems, the leader in outsourced software product development (OPD) services, through its US subsidiary has acquired the Location business from Openwave Systems Inc. This acquisition will build the company’s momentum in growing product maintenance and support services. However, the company didn’t disclose the terms of the transaction.

Persistent Systems is an OPD specialty company offering 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.  

The company has posted a 1.68% increase in its net profit of Rs 37.62 crore for the quarter ended December 31, 2011 as compared to Rs 37 crore for the same quarter in the previous year. Net sales have increased by 32.35% to Rs 201.68 crore for quarter under review from Rs 152.38 for the corresponding quarter of the preceding year.