Persistent's Nagarro Deal Wipes Rs 8,350 Cr in Market Value

Persistent Systems lost Rs 8,350 crore in market value Tuesday after its shares fell sharply on news of its planned Nagarro acquisition. Traders said the selloff reflected concerns over the deal's price and the potential impact on the company's balance sheet.

The Nagarro deal, if completed, would be Persistent's largest acquisition, putting pressure on management to execute a smooth integration. Investors will watch for further details on funding and expected synergies.

Infosys and Wipro shares were largely unchanged, reflecting the firm-specific nature of the news. The readthrough for the IT services sector remains limited unless other companies announce similar-sized deals.