Zensar Tech jumps 13% in six days

Zensar Technologies rallied 6.91% to Rs 290, extending gains for sixth trading sessions.

Shares of Zensar Technologies jumped 13.24% in six trading session from its recent closing low of Rs 251.20 on 13 February 2023.

On the BSE, 3.10 lakh shares were traded in the counter so far compared with average daily volumes of 3.80 lakh shares in the past two weeks.

The stock hit a 52-week high of Rs 394.50 on 5 April 2022. The stock hit a 52-week low of Rs 202 on 23 December 2022.

The stock had outperformed the market over the past one month, rising 32.78% compared with 0.42% rise in the Sensex.

The scrip had outperformed the market in past three months, advancing 35.96% as against Sensex's 0.44% decline.

However, the counter had underperformed the market in past one year, sliding 16.8% as against Sensex's 5.54% jump.

On the technical front, the stock's daily RSI (relative strength index) stood at 80.811. The RSI oscillates between zero and 100. Traditionally, the RSI is considered overbought when above 70 and oversold when below 30.

On the daily chart, the stock was trading above its 50-day, 200- day and 100-day simple moving average (SMA) placed at 227.72, 223.81 and 241.45, respectively. These levels will act as crucial support zones in near term.

Zensar Technologies is engaged in providing a complete range of IT services and solutions and company's industry expertise spans across manufacturing, retail, media, banking, insurance, healthcare and utilities.

The company's consolidated net profit declined 15.9% to Rs 76.50 crore despite of 8.6% rise in net sales to Rs 1,197.60 crore in Q3 FY23 over Q3 FY22.

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