Reflects the company’s strong fundamentals, client confidence, growth potential, and competitive edge in the global technology services market.
November 24, 2023, Santa Clara, CA and Pune, India, News Summary: Persistent Systems (BSE and NSE: PERSISTENT), a global digital engineering and enterprise modernization leader, announced that it has been selected for inclusion in the MSCI India Index, S&P BSE 100, and S&P BSE SENSEX Next 50 indices.
The MSCI India Index is designed to measure the performance of the large and mid-cap segments of the Indian market. With 122 constituents, the index covers approximately 85% of the Indian equity universe. The S&P BSE 100 covers the 100 largest and most liquid Indian companies within the S&P BSE LargeMid Cap, while the S&P BSE SENSEX The next 50 indices include the next 50 largest and most liquid stocks after those included in the S&P BSE SENSEX 50.
In the last three years, the company has more than doubled its revenue to over a billion USD for the financial year ended March 2023, achieving a CAGR of 27%. This significant growth has been possible due to Persistent’s unwavering commitment to its clients, spotting the latest technology trends that help them unlock their full potential from these technological shifts. Over the last few years, Persistent has enforced strong operational rigor and brought together an ecosystem of strategic partnerships to deliver consistent value to its clients, partners, employees, and shareholders.
In FY23, the company was included in three indices of the National Stock Exchange in India: the Nifty Midcap 50, Nifty IT, and Nifty Midcap Liquid 15. The addition to the MSCI India Index, S&P BSE 100, and S&P BSE SENSEX Next 50 indices further reinforces Persistent’s commitment to creating sustainable value for its stakeholders.
Sandeep Kalra, Chief Executive Officer and Executive Director, Persistent:
“We are thrilled to be included in these three key market indices, which marks an important milestone in Persistent’s 30-plus-year-storied journey. I would like to express my sincere gratitude to our clients, employees, partners, and shareholders for their strong support and trust; without them, this achievement would not have been possible. We believe these inclusions add significantly to our credibility as a pioneering digital engineering and enterprise modernization company, and this gives us further motivation to continue to invest in fortifying our position.”
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