The Indian stock market may be going through a sell-off phase, but there are some stocks that brokerage houses are confident about. One such stock is that of Persistent Systems. The price of this stock is expected to cross Rs 5000. This company is associated with IT sector.
What the brokerage has to say: Analysts at brokerage and research house IIFL maintain a buy rating on the Persistent Systems stock. With this, the target price for the next 12 months has been kept at Rs 5,020. This means that the share price can go up to this level in a year.
How much profit as of now: Presently the share price is at Rs 4480 level. Compared to a day earlier, a decline of 1.40 percent has been registered. On the other hand, if compared with the target price of the brokerage, then there can be a profit of up to Rs 540 per share. At present, the market capital of the company is more than Rs 34,275 crore.
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Persistent Systems has made significant investments over the past year and a half to build a strong cloud partner ecosystem with leading cloud providers globally. Persistent Systems now has powerful cloud capability. Its scope is also increasing with time. This is the reason why brokerages also have confidence in the stock.