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Stellar show, still Persistent can re-rate. This is why

Since Persistent is competing with some of the leading pure play digital names and matching them on growth, a long-term valuation catch-up with global peers is possible

September 30, 2021 / 11:44 AM IST
Stellar show, still Persistent can re-rate. This is why

PRO Only Highlights
Quarterly performance largely backed by improved realisations
Medium-term triggers China plus and protectionist measures for tyre industry
Valuations not inexpensive; but improved medium-term outlook

We had recommended Persistent Systems (CMP:Rs 3511, M Cap: Rs 26,386 crore) at a price of Rs 1,644 and that was perhaps a golden opportunity to pick up the stock that had since (in the past seven months) rallied 119 per cent against an 18 per cent gain in Nifty and 41 per cent in the IT index. While prima facie the valuation looks expensive, seen in the context of the valuation of global pure play digital players, there is...

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