Persistent Systems inches up on entering into Asset Purchase Agreement with Soho Dragon Solutions
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Persistent Systems is currently trading at Rs. 6316.55, up by 11.45 points or 0.18% from its previous closing of Rs. 6305.10 on the BSE.
The scrip opened at Rs. 6315.05 and has touched a high and low of Rs. 6327.00 and Rs. 6303.30 respectively. So far 367 shares were traded on the counter.
The BSE group 'A' stock of face value Rs. 5 has touched a 52 week high of Rs. 6788.80 on 20-Dec-2024 and a 52 week low of Rs. 3232.60 on 04-Jun-2024.
Last one week high and low of the scrip stood at Rs. 6521.00 and Rs. 6268.20 respectively. The current market cap of the company is Rs. 97130.07 crore.
The promoters holding in the company stood at 30.66%, while Institutions and Non-Institutions held 50.71% and 18.63% respectively.
Persistent Systems has entered into an Asset Purchase Agreement with Soho Dragon Solutions India for the acquisition of its identified assets on January 6, 2025, subject to the satisfaction of customary closing conditions. The acquisition of the select assets will help in consolidating the relationship with a strategic and large customer in the BFSI domain. The acquisition of assets will be completed within 4-8 weeks subject to satisfaction of customary closing conditions. The total purchase consideration payable for the acquisition is $5.94 million.
Persistent Systems is a global company specializing in software product and technology services.
