Shares of Persistent Systems surged as much as 7.28 per cent to hit the day’s high of Rs 5,712.30 against its previous close of Rs 5,324.25. The rally came after the IT services major delivered a robust second-quarter performance for FY26, surpassing Street estimates and prompting JM Financial to raise its price target on the stock. Advertisement

In a company update note dated October 14, JM Financial described the performance as "A near-perfect quarter." Persistent Systems (PSYS) reported a revenue growth of 4.4 per cent in constant currency terms quarter-on-quarter (QoQ), ahead of JM Financial’s projection of 3.4 per cent. The growth was broad-based, led by a 7 per cent QoQ rise in the Banking, Financial Services, and Insurance (BFSI) vertical, 2.2 per cent in Hi-tech, and a 3.8 per ce

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