Zensar Technologies gains nearly 5% in two sessions

Zensar Technologies rose 1.66% to Rs 241.65 at 11:57 IST on BSE, triggered by the company winning large multi-year orders in its manufacturing sector in the United States.

The company announced the new orders during trading hours on Thursday, 3 October 2013. The stock rose 3.26% to Rs 237.70 on the day. The stock is up 4.97% in two sessions from Rs 230.20 on Tuesday, 1 October 2013. Indian financial markets were closed on Wednesday, 2 October 2013, on account of Mahatma Gandhi Jayanti.

Meanwhile, the BSE Sensex was up 41.63 points, or 0.21%, to 19,943.70.

On BSE, 1,932 shares were traded in the counter compared with average volume of 4,563 shares in the past one quarter.

The stock hit a high of Rs 245 and a low of Rs 238 so far during the day. The stock hit a 52-week low of Rs 180.90 on 25 September 2013. The stock hit a 52-week high of Rs 302.45 on 3 October 2012.

The stock had underperformed the market over the past one month till 3 October 2013, rising 0.70% compared with the Sensex's 9.14% rise. The scrip had also underperformed the market in past one quarter, falling 6.69% as against Sensex's 3.78% rise.

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

Zensar Technologies said it won significantly large multi-year orders in its manufacturing sector in the United States.

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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