Strong deal momentum to keep Street hooked on to Persistent
ET Intelligence Group: The stock of Persistent Systems, a mid-tier IT services company, has gained 10% since its second-quarter result announcement last Tuesday, taking the three-month return to 20%. The stock has remained buoyant following the company’s strong business momentum in the September quarter, even as the broader market has shown weakness. The key business…
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Unicom’s Prospects Ride on Ecomm Rise
ET Intellligence Group: Unicommerce eSolutions, which provides ecommerce-related software solutions, plans to raise up to βΉ277 crore through an offer for sale. The promoter group stake will fall to 23.6% after the IPO from 48.6% excluding any Esop adjustments. AceVector, which also owns Snapdeal, is the major promoter of Unicom. The company counts Mamaearth, Lenskart,…
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