Stock split after Rs 32/share dividend: FIIs bought 24,66,401 shares of this multibagger IT stock; scrip hit fresh 52-week high!

The stock gave multibagger returns of over 100 per cent from its 52-week low of Rs 3,959.25 per share, 450 per cent in 3 years and a whopping 1,300 per cent in 5 years.

Persistent Systems Limited informed that the Board of Directors of the company have approved a stock split of equity shares after an interim dividend. Here are the details:

Stock Split: The Board approved the proposal of the stock split in the ratio of 1:2 i.e., existing 1 equity share having a face value of Rs 10 each, into 2 equity shares having a face value of Rs 5 each, fully paid-up.  

Dividend: Earlier, the company announced an interim dividend of Rs 32 per share having a face value of Rs 10 each. The record date for the interim dividend is today, January 30, 2024.

Persistent Systems is a software engineering and strategy partner helping companies modernize their businesses. They offer flexible solutions through pre-built platforms and partnerships with major players like Salesforce and AWS. Renowned for their brand strength and impressive client list, they specialize in BFSI, healthcare, and software development, delivering services from cloud solutions to mobile healthcare tools. With global presence and strong financials, they boast consistent order book growth and a commitment to acquisitions, like their recent MediaAgility purchase, fortifying their digital capabilities.

Today, shares of Persistent Systems Limited plunged 3.11 per cent to Rs 8,371 per share with an intraday high of Rs 8,828.60 and an intraday low of Rs 8,337. The stock also made a fresh new 52-week high of Rs 8,828.60 per share with a total of 15,746 shares quantity traded on BSE. In the December quarter (Q3FY24), FIIs bought 24,66,401 shares of this company and reported positive numbers in its Quarterly Results and nine-month results.

The shares of the company have a PE of 62.6x, an ROE of 25.3 per cent and an ROCE of 30.3 per cent. The stock gave multibagger returns of over 100 per cent from its 52-week low of Rs 3,959.25 per share, 450 per cent in 3 years and a whopping 1,300 per cent in 5 years. Investors should keep an eye on this Mid-Cap IT stock.

Disclaimer: The article is for informational purposes only and not investment advice.