Persistent Systems shares tumbled 9% to hit a 52-week low of ₹4,404 in morning trade on Monday, extending a sharp sell-off that began earlier in the session.
The stock opened at ₹4,500, down from the previous close of ₹4,840.45, as widespread selling gripped the broader Indian information technology sector.
14 billion) voluntary public takeover offer for German digital engineering firm Nagarro SE.
The BSE IT index declined 1% during the same period, reflecting cautious sentiment across the industry.
The steep drop follows the company’s recent announcement of a €1 billion ($1.14 billion) voluntary public takeover offer for German digital engineering firm Nagarro SE.
The acquisition, structured through Persistent’s wholly-owned subsidiary Galaxy Germany Holding SE, represents a significant expansion into the European market but has triggered immediate investor concern over execution complexity and integration costs.
Markets appear to be pricing in the risks associated with such a large cross-border deal, particularly given the current volatility in the IT sector.