Based on the OI percentage, 58 stocks, including Mphasis, Indian Energy Exchange, Persistent Systems, Chambal Fertilizers, and Aarti Industries, saw a short build-up.

Trade setup for Wednesday: Top 15 things to know before the opening bell

Shares of Persistent Systems plunged 4.62 per cent to Rs 4,973.50. Coforge shares slipped 3.82 per cent to Rs 4,418. 40. Mphasis, Cyient and Zensar Technologies declined 3.71 per cent, 3.10 per cent and 2.80 per cent, respectively. LTIMindtree dropped 2.14 per cent to Rs 4,838.

IT stocks: Weak EPAM guidance sends Persistent, Mphasis, Coforge, Cyient shares falling; TCS, Infosys down 2% each

Senior Vice Presidents Mohd Haque and Ashish Saxena have left Wipro weeks after Gurvinder Sahni did so to join Persistent Systems.

Top-Level Churn At Wipro Deepens With Two More Exits

The company aims to leverage these skills and build on its Digital Engineering expertise by recruiting skilled personnel in various roles from the country

Persistent Systems opens new Poland location to expand footprint in Europe

ICICI Direct has identified two IT stocks that it believes will weather the current macroeconomic headwinds and deliver industry-leading growth in FY24. Persistent Systems and Happiest Minds are both expected to benefit from the digital transformation of enterprises, with Persistent Systems crossing…

Defying the storm! Two midcap IT stocks ready to soar amid macro turmoil

Sahni joins the Pune-based IT firm after a stint of 20 years at Wipro Ltd, where he held several key positions

Gurvinder Sahni joins Persistent Systems as Chief Marketing Officer

Coforge, Persistent Systems and L&T Technology Services crossed a billion dollars in revenue in FY23

IT Services: Should you bet on the new members in the billion dollar club?

Recently, three midcap IT companies — Coforge , Persistent Systems and L&T Technology Services (LTTS) —

IT Services: How cool is billion $ ?

Midcap IT Stocks: Firms such as Persistent Systems (Persistent), Coforge, KPIT Technologies (KPIT), and Cyient performed better on key performance metrics

IT mid-caps stick to steady growth amid uncertain macroeconomic environment

ICICI Direct is bullish on Persistent Systems recommended buy rating on the stock with a target price of Rs 5170 in its research report dated April 26, 2023.

Buy Persistent Systems; target of Rs 5170: ICICI Direct

Motilal Oswal recommended Neutral rating on Persistent Systems with a target price of Rs 4870 in its research report dated April 26, 2023.

Neutral Persistent Systems; target of Rs 4870: Motilal Oswal

The creamy layer - amongst the top performing stocks

Performance

Seems to be overvalued vs the market average

Valuation

Financials growth has been moderate for a few years

Growth

Showing good signs of profitability & efficiency

Profitability

The stock is overpriced but is not in the overbought zone

Current price is more than the intrinsic value

Fundamentals

Good time to consider, stock is not in the overbought zone

Technicals

Entry point

Promoter pledged holding

Unsolicited messages

Default probability

Red flags

Persistent Systems Limited is engaged in the business of building software products. The Company offers complete product life cycle services.