Persistent Systems board meeting on January 20 to consider stock split

Persistent Systems stock split: Persistent Systems shares are expected to be on investors' radar as the IT company's board is slated to hold a two-day meeting beginning Friday, January 19, to consider a sub-division or split of existing shares of the company having a face value of Rs 10 each.

"We wish to inform you that the Board of Directors of Persistent Systems Limited (‘the Company’) may consider a proposal of alteration in the share capital of the company by sub-division or split of the existing equity shares having a face value of INR 10 each, fully paid up in such manner as may be determined by the Board of Directors at the meeting scheduled to be held on Friday, January 19, 2024, and to be continued on Saturday, January 20, 2024," the company informed the bourses on January 17 post-market hours.

What is a stock split?

The process of dividing the company's outstanding shares into smaller shares is known as stock splits. In a stock split, although the number of shares outstanding increases by a specific multiple, the total value of the shares remains the same compared to pre-split amounts because the split does not add any real value.

Persistent Systems Q3 result date

In addition, the company is also scheduled to release its third quarter ended December 2023 (Q3 FY24) earnings report on Saturday, January 20, 2024.

Persistent Systems: Past performance

Persistent Systems has outperformed the Nifty as well as the Nifty IT index over one year, with a multi-bagger return of nearly 100 per cent, Meanwhile, the headline index and Nifty IT during the same period have rallied over 18 per cent.

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