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Persistent Systems rises on entering into partnership with Monument Bank

Aug-03-2022   09:59 Hrs IST

Persistent Systems is currently trading at Rs. 3669.20, up by 45.65 points or 1.26% from its previous closing of Rs. 3623.55 on the BSE.

The scrip opened at Rs. 3595.00 and has touched a high and low of Rs. 3710.00 and Rs. 3585.75 respectively. So far 6780 shares were traded on the counter.

The BSE group 'A' stock of face value Rs. 10 has touched a 52 week high of Rs. 4986.85 on 03-Jan-2022 and a 52 week low of Rs. 2982.50 on 04-Aug-2021.

Last one week high and low of the scrip stood at Rs. 3710.00 and Rs. 3413.45 respectively. The current market cap of the company is Rs. 27692.98 crore.

The promoters holding in the company stood at 31.26%, while Institutions and Non-Institutions held 46.39% and 22.34% respectively.

Persistent Systems and Monument Bank have entered into partnership to build a bespoke, cloud-native digital banking platform for lending and deposit services to support Monument’s ongoing operations. Monument’s target clients are usually pressed for time and often feel underserved and undervalued by other banking providers. Monument’s mission is to help its clients prosper and optimise their time by offering smart, efficient and flexible solutions.

Persistent was engaged in the designing and planning of Monument’s technology systems and subsequently helped construct the Bank’s bespoke systems architecture using a flexible building block approach. This approach enables new components to be added and swapped over time to take advantage of the latest innovations, allowing Monument to choose and integrate multiple SaaS based core component technologies.

Persistent Systems is a global company specializing in software product and technology services.