Persistent Systems: 37% Upside? Why Axis Capital Hikes Target To Rs 7,210, Retains 'Buy'
Indian markets moved higher in a promoter activity development.
· NDTV Profit
According to Axis Capital, the increase in Persistent's Nagarro stake to 83.25% following the open offer removes a major potential overhang for the stock.
The analysis
This is a Promoter stake / pledge event. Promoters transact with better information than the market. Direction against the price trend is the signal — accumulation into weakness reads differently from a sale into strength.