Sharekhan's research repor on Persistent Systems
Among mid-tier companies, PSL clocked strongest revenue growth given its exposure to less-impacted verticals such as BFSI, technology and healthcare. Growth momentum in technology services would continue beyond FY21E led by increasing spends on digital program, strong deal wins and a healthy deal pipeline. Cash &cash equivalents account for 19% of its current market capitalisation; strong balance sheet and potential strong earnings growth (15% CAGR over FY2020-22E) provide us comfort on the stock.
Outlook
We retain our Buy rating on Persistent Systems Limited (PSL) with a revised PT of Rs. 1,220.
For all recommendations report, click here
Disclaimer: The views and investment tips expressed by investment experts/broking houses/rating agencies on moneycontrol.com are their own, and not that of the website or its management. Moneycontrol.com advises users to check with certified experts before taking any investment decisions.
Discover the latest Business News, Sensex, and Nifty updates. Obtain Personal Finance insights, tax queries, and expert opinions on Moneycontrol or download the Moneycontrol App to stay updated!
