Persistent Systems Ltd. is targeting annual revenue of US$1 bn and will focus on acquisitions to achieve the same, reports a financial newspaper.
"Along with our recently-closed acquisition, our run rate (revenue) is around US$361 million a year and we are sticking to the target of US$1 billion, which is natural aspiration for a company of our size," Persistent Chairman and MD Anand Deshpande has been quoted as saying.
In December 2014, the company had said that it would like to achieve the US$1 billion revenue mark in three-to-five years.
The scrip opened at Rs. 600.05 and has touched a high and low of Rs. 627 and Rs. 600.05 respectively. So far 27282(NSE+BSE) shares were traded on the counter. The current market cap of the company is Rs. 4864 crore.
The BSE group 'A' stock of face value Rs. 10 has touched a 52 week high of Rs. 947.5 on 04-Mar-2015 and a 52 week low of Rs. 577 on 29-Jun-2015. Last one week high and low of the scrip stood at Rs. 639 and Rs. 586 respectively.
The promoters holding in the company stood at 38.53 % while Institutions and Non-Institutions held 34.31 % and 22.18 % respectively.
The stock is currently trading above its 200 DMA.
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