Nomura has retained its neutral rating on Persistent Systems, setting a target price of ₹5,200, implying a very slight upside of 0.36% from the current market price of ₹5,181.65. The company posted resilient Q2 growth driven by strong execution and healthy deal wins. Revenue growth exceeded expectations, and the firm anticipates margin improvements in H2FY25, with a potential long-term margin boost of 200-300 basis points.
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