Persistent Systems shares in news as IT firm to consider stock split on January 20

Shares of Persistent Systems Ltd are in focus today after the IT firm said its board was likely to consider a proposal to consider a stock split on January 19. Persistent Systems stock ended 1.13% percent higher at Rs 7702.45 on Wednesday against the previous close of Rs 7616.35 on BSE. Market cap of the firm rose to Rs 59,251 crore on BSE. 

The stock opened higher at Rs 7579.95. It has climbed 6.51% this year and risen 96.86% in the last one year. Total 0.14 lakh shares of the firm changed hands amounting to a turnover of Rs 10.65 crore on BSE.      

 The stock has a beta of 0.1, indicating low volatility in a year. 

In terms of technicals, the relative strength index (RSI) of Persistent Systems stock stands at 72.4, signaling it's trading in the overbought zone. Persistent Systems stock is trading higher than the 5 day, 20 day, 50 day, 100 day and 200 day moving averages.    

“Board of Directors of Persistent Systems Limited (‘the Company’) may consider a proposal of alteration in the share capital of the Company by sub-division/split of the existing Equity Shares having face value of Rs 10 each, fully paid up in such manner as may be determined by the Board of Directors at the meeting scheduled to be held on Friday, January 19, 2024, and to be continued on Saturday, January 20, 2024,” said the firm in a communication to BSE post market hours on Wednesday.  

The firm will also announce its December quarter earnings and interim dividend if any on January 20.  

Persistent Systems Limited is engaged in the business of providing software products and technology services. The company’s segments include banking, financial services, and insurance (BFSI), Healthcare & Life Sciences, and Technology Companies and Emerging Verticals. 

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