Persistent Systems shares gained on Tuesday after the company has entered into a stock purchase agreement with Altizon Systems. The company has decided to invest USD 100,000 by subscribing to the equity shares of Altizon in one or more tranches from time to time.

Immediately followed after entering into the above agreement, the company has also remitted its first tranche of investment to Altizon. Altizon is a Pune based product company focused on the Internet of Things (IoT).

Shares of the company are trading at Rs 1,366, up Rs 27.85, or 2.08% at the Bombay Stock Exchange (BSE) on Tuesday at 9:59 a.m.

The scrip has touched an intra-day high of Rs 1,400 and low of Rs 1,350. The total volume of shares traded at the BSE is 3,041.