Zensar Technologies jumps after winning new order

Zensar Technologies rose 7.54% to Rs 1,080.60 at 9:43 IST on BSE after the company said it secured multi-million dollar digital transformation project from Avis Fleet in South Africa.

The announcement was made after market hours yesterday, 8 September 2016.

Meanwhile, the BSE Sensex was down 146.99 points, or 0.51%, to 28,898.29.

On BSE, so far 9,866 shares were traded in the counter, compared with average daily volume of 13,354 shares in the past one quarter. The stock hit a high of Rs 1,111 and a low of Rs 1,030 so far during the day. The stock hit a record high of Rs 1,136.05 on 9 August 2016. The stock hit a 52-week low of Rs 755 on 8 September 2015. The stock had underperformed the market over the past 30 days till 8 September 2016, falling 7.01% compared with 4.57% rise in the Sensex. The scrip had also underperformed the market in past one quarter, rising 6.18% as against Sensex's 9.05% rise.

The mid-cap company has equity capital of Rs 44.70 crore. Face value per share is Rs 10.

Spread over a time-period of two years, the project involves adding scalability and agility to the company's strategic technology roadmap, Zensar Technologies said in a statement. Zensar will enable realization of Avis Fleet's strategic project, 'Next Generation Fleet Management System'. Zensar will leverage its digital technology skills and expertise to enable Avis Fleet in improving overall customer experience and visible enhancement in the quality of service. The key business objective is to secure and grow Avis' market leadership position in this field across Africa. The overall implementation, to be divided into two phases will focus on enhancing the varied legacy technology platforms and integration of digital technologies like Agile and DevOps in building a strategic IT framework.

On a consolidated basis, Zensar Technologies' net profit rose 8.93% to Rs 76.46 crore on 1.21% increase in net sales to Rs 755.42 crore in Q1 June 2016 over Q4 March 2016.

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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