One of the AI stocks engaged in cloud computing, the Internet of Things, endpoint security, big data analytics, and software product engineering services. The stock has jumped 5.42 percent after partnering with Microsoft to create ContractAssIst using Microsoft 365 Copilot.
Stock Price Movement
In Wednesday’s trading session, Persistent Systems Limited’s share jumped to an intraday high of 5.42 percent from the previous close of Rs. 5891.50. The stock opened at Rs. 5,900.05 and is currently trading at Rs. 6,199.75, with a high of Rs. 6,211.30 and a low of Rs. 5,900.05. The market capitalization now stands at approximately Rs. 96,623.10 crore.
What Happened
Persistent Systems has partnered with Microsoft to create ContractAssIst, an AI-powered contract management solution. The platform uses Microsoft Azure, Microsoft 365 Copilot, and Microsoft Teams to help businesses manage contracts more efficiently. It leverages advanced AI technologies, such as GPT-3.5 and GPT-4, for contract analysis and decision-making, improving productivity and reducing complexity.
ContractAssIst simplifies contract workflows by offering features like version tracking, contract comparison, and automated approval processes. It integrates seamlessly with Microsoft Teams, providing real-time collaboration, decision support, and an AI-powered chatbot for instant help. This solution aims to improve compliance, save costs, and enhance overall contract management.
Order Book
Persistent Systems reported a Total Contract Value (TCV) of $529 million for the quarter, with new bookings contributing $389.8 million. The Annual Contract Value (ACV) portion of TCV was $348.3 million, with new bookings accounting for $218.6 million, highlighting strong performance in contract acquisitions.
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Strategic Initiatives
Persistent Systems launched the T100 Program, targeting the top 100 clients to enhance customer value with four pillars: talent amplification, value maximization, AI-driven innovation, and ecosystem leadership.
The company continued its AI focus with “AI for Technology” and “AI for Business,” launching SASVA 2.0 to boost software engineering services. Additionally, Persistent acquired Arrka to strengthen its data privacy management, integrating Arrka’s expertise with SASVA and iAURA platforms to enhance data privacy and cybersecurity capabilities.
Recent quarter results
Persistent Systems Limited’s revenue has increased from Rs. 2,412 crore in Q2 FY24 to Rs. 2,897 crore in Q2 FY25, which has grown by 20.11 percent. The net profit of Waaree Renewable Technologies Limited has also grown by 23.57 percent from Rs. 263 crore in Q2 FY24 to Rs. 325 crore in Q2 FY25.
Company Overview
Persistent Systems Limited was established in 1990 and headquartered in Pune, India. The company is a multinational technology services company that specializes in cloud computing, IoT, big data analytics, and software product engineering, serving various industries globally.
Written By – Nikhil Naik
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