Unlocking Innovation: This multibagger inaugurates cutting-edge CoE in Kolkata!
The stock has witnessed significant buying activity as it has surged more than 424 per cent in the last three years.
On August 01, 2023, Nifty and Sensex started the day with slight gains, trading higher by 0.1 per cent and 0.11 per cent, respectively. However, by the time of the market close, Sensex and Nifty traded on a mixed note, with no significant change in their overall performance.
Today, the shares of Persistent Systems Limited soared 1.52 per cent. The company's current market capitalisation is Rs 37,080.16 crore.
Persistent Systems inaugurated its first office in Kolkata, West Bengal, the "City of Joy." Situated in the main IT hub at Salt Lake Sector-V, this 250-seat office marks a significant addition to Persistent's rapidly expanding global delivery network.
Functioning as a Center of Excellence (CoE) for emerging technologies and software engineering, the facility will play a vital role in accelerating the digital transformation journeys of clients across various industries.
Additionally, it aims to attract top-notch talent from West Bengal, Odisha, Bihar, Jharkhand, and the North-Eastern States. The inauguration of this state-of-the-art facility took place in the presence of Anand Deshpande, Founder, Chairman & Managing Director at Persistent, along with Persistent's leaders and employees.
Speaking on the occasion, Deshpande said, “Kolkata is India’s intellectual and cultural hub and is one of the fastest-growing IT centers in India. We are truly delighted to add this city to our existing network of global talent hotspots. Through our association with premier educational institutions, this new location will enable us to attract top talent and allow our existing team members in the region to work from the office, thereby bolstering our capabilities and further strengthening our culture.”
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Persistent Systems offers software engineering and strategy services for business implementation and modernization. With proprietary software and partnerships with Salesforce and AWS, they deliver comprehensive solutions to clients.
Over the past 5 years, the company has achieved a commendable profit growth of 24.6 per cent CAGR. Additionally, the company has consistently maintained a healthy dividend payout ratio of 36.6 per cent, rewarding its shareholders with consistent returns.
The stock has witnessed significant buying activity as it has surged more than 424 per cent in the last three years.
Keep a close eye on this trending stock.
Disclaimer: The article is for informational purposes only and not investment advice.