Zensar Technologies surges 7% on multi-year contract with City of San Diego

The stock has surged 7% to Rs 968 on the BSE in early morning trade, trading close to its 52-week high of Rs 1,000.

Shares of Zensar Technologies have surged 7% to Rs 968 per share on the BSE in early morning trade after the company announced that it has won a four year, multi-million dollar contract from the City of San Diego for network services. The stock is trading close to its 52-week high of Rs 1,000 touched on January 24, 2018 on the BSE in intra-day trade.

 

The contract has the option of extension of two additional two year terms with the total not to exceed contract value being approximately USD 79 million.

 

"This partnership aims to make the City of San Diego more transparent and accountable while enhancing security - all at a lower cost for taxpayers," said Mayor Kevin Faulconer. "We look forward to working with Zensar on several new projects to help modernize and improve the City's network as we replace aging technology with new digital infrastructure to better serve our residents."

 

At 09:25 am; the stock was trading 6% higher at Rs 955, as compared to 0.06% rise in the S&P BSE Sensex. A combined 41,504 shares changed hands on the counter on the BSE and NSE so far.