Zensar Technologies gains over 5% in two days

Zensar Technologies rose 1.23% to Rs 227 at 12:18 IST on BSE, with the stock extending Thursday's 4.11% rise triggered by the company's announcement of signing large multiyear contract in the United States.

The announcement was made during trading hours on Thursday, 22 August 2013, when the stock jumped 4.11% to Rs 224.25. The stock is up 5.39% in two sessions from Rs 215.40 on 21 August 2013.

Meanwhile, the BSE Sensex was up 60.23 points, or 0.33%, to 18,373.17.

On BSE, 4,134 shares were traded in the counter compared with average volume of 3,296 shares in the past one quarter.

The stock hit a high of Rs 230.25 and a low of Rs 219.60 so far during the day. The stock hit a 52-week low of Rs 205 on 7 August 2013. The stock hit a 52-week high of Rs 302.45 on 3 October 2012.

The stock had outperformed the market over the past one month till 22 August 2013, sliding 7.79% compared with the Sensex's 9.16% decline. The scrip had also outperformed the market in past one quarter, falling 8.38% as against Sensex's 8.72% fall.

The small-cap company has an equity capital of Rs 43.60 crore. Face value per share is Rs 10.

Zensar Technologies announced that as a managed services provider, it has signed a five-year total infrastructure outsourcing deal with a world leading direct selling company for five of its remote sites. As part of this strategic agreement Zensar will establish a dedicated shared service and offshore support centre for the client which would support the client's IT Infrastructure across locations. Zensar's solution includes providing a co-location environment by hosting the client's primary hardware and systems.

The company also said that it has a robust pipeline of over 250 million dollars of new business and it expects all its business lines to do well during the current financial year.

On a consolidated basis, Zensar Technologies' net profit rose 11.7% to Rs 60.94 crore on 2.4% decline in net sales to Rs 531.28 crore in Q1 June 2013 over Q1 June 2012.

Zensar Technologies is a software services provider.

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