Sharekhan's research report on Persistent Systems
PSL delivered a strong set of numbers, with beat on all financial fronts; deal signings remained strong. We believe growth momentum in Technology Services would continue in FY2022Eled by large deal signings, new logo addition, prudent client mining strategy and a healthy deal pipeline. Cash and cash equivalents account for 23% of its current market capitalisation; strong balance sheet and potential strong earnings growth potential provide us comfort on the stock.
Outlook
We retain our Buy rating on Persistent Systems Limited (PSL) with a revised PT of Rs. 1,000.
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