Zensar Tech gains after winning new order

Zensar Technologies rose 1.04% to Rs 958 at 13:52 IST on BSE after the company said it signed a multi-million, multi-year managed services deal with UK's John Lewis.

The announcement was made during trading hours today, 15 June 2016.

Meanwhile, the BSE Sensex was up 141.39 points, or 0.54%, to 26,537.10.

On BSE, so far 6,655 shares were traded in the counter, compared with an average volume of 1.94 lakh shares in the past one quarter. The stock hit a high of Rs 989.80 and a low of Rs 949.85 so far during the day. The stock hit a record high of Rs 1,120 on 28 December 2015. The stock hit a 52-week low of Rs 636.50 on 17 June 2015. The stock had underperformed the market over the past one month till 14 June 2016, falling 1.33% compared with 2.89% rise in the Sensex. The scrip had, however, outperformed the market in past one quarter, rising 9.91% as against Sensex's 6.94% rise.

The mid-cap company has an equity capital of Rs 44.63 crore. Face value per share is Rs 10.

Zensar Technologies, a leading provider of digital solutions, software and infrastructure services, announced a multi-million multi-year Managed Services Deal with John Lewis, UK's largest department store retailer. Zensar has been partnering John Lewis through its business transformation process with next gen applications management solutions for many years now.

As part of this agreement spread over a five-year period, Zensar will be responsible for application management and technical analysis services for buying, selling, supply chain, financial management, management information systems, digital and online order management, customer delivery and mobile applications.

This deal underlines Zensar's position as one of two key IT operational support partners at John Lewis. John Lewis has embarked on a service and productivity improvement initiative across its business operations in the last 12 months. One of the key outcomes of this partnership involves the establishment of a predictable IT operations cost structure to optimize both direct and indirect costs. As part of the scope, both entities have agreed on building a joint Innovation framework that gives both parties the opportunity to identify, invest and develop solutions of mutual interest.

On a consolidated basis, Zensar Technologies' net profit fell 1.89% to Rs 70.19 crore on 1.38% decline in net sales to Rs 746.38 crore in Q4 March 2016 over Q3 December 2015.

Zensar Technologies is a leading software and infrastructure services and solutions provider with industry expertise across manufacturing, retail, insurance, utilities, banking, financial services and government.

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