Zensar Tech gains after securing new orders

Zensar Technologies rose 3.39% to Rs 238 at 13:05 IST on BSE after the company said it has won significant large multi-year orders in its manufacturing sector in the United States.

The company announced the new orders during trading hours today, 3 October 2013.

Meanwhile, the S&P BSE Sensex was up 285.53 points or 1.46% at 19,802.68.

On BSE, 13,000 shares were traded in the counter as against average daily volume of 4,403 shares in the past one quarter.

The stock was volatile. The stock rose as much as 4.66% at the day's high of Rs 240.95 so far during the day. The stock lost as much as 0.06% at the day's low of Rs 230.05 so far during the day. The stock had hit a 52-week high of Rs 302.45 on 3 October 2012. The stock had hit a 52-week low of Rs 180.90 on 25 September 2013.

The stock had underperformed the market over the past one month till 1 October 2013, advancing 1.75% compared with the Sensex's 4.82% rise. The scrip had also underperformed the market in past one quarter, declining 9.32% as against Sensex's 0.31% fall.

The small-cap company has equity capital of Rs 43.67 crore. Face value per share is Rs 10.

Deepanjan Banerjee, Head of the Manufacturing Vertical SBU at Zensar said, "Zensar's key growth driver traditionally has been the manufacturing vertical in the US. This growth trend continues with significant large contracts in this space. Key wins include multi-million dollar deals with a market leading innovator in semiconductors and a leading manufacturer of engineering solutions in data and power sectors. These wins further consolidate Zensar's leadership in the sector and boost both the custom and package applications businesses."

Nitin Parab, Chief Executive of Zensar's Enterprise Transformation business said, "The company's investment in shop floor to top floor solutions and our new focus on building extended enterprise solutions with mobility, social media and big data technologies is getting good customer traction and we expect to see continued success in manufacturing, retail and distribution in this financial year."

On a consolidated basis, Zensar Technologies' net profit surged 55.85% to Rs 60.94 crore on 4.55% growth in net sales to Rs 531.28 crore in Q1 June 2013 over Q4 March 2013.

Zensar Technologies is among the top 15 software services providers from India.

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