Zensar Technologies surges 8.1% in 3 days

Zensar Technologies rose 3.3% to Rs 233 at 13:07 IST on BSE, with the stock extending 2-day 4.71% gains triggered by the company signing a large multiyear contract in the United States.

Meanwhile, the S&P BSE Sensex was up 82.84 points or 0.45% at 18,602.28.

On BSE, 5,807 shares were traded in the counter as against average daily volume of 3,351 shares in the past one quarter.

The stock hit a high of Rs 236.40 and a low of Rs 229.75 so far during the day. The stock hit a 52-week high of Rs 302.45 on 3 October 2012. The stock hit a 52-week low of Rs 205 on 7 August 2013.

The stock had outperformed the market over the past one month till 23 August 2013, sliding 6.6% compared with the Sensex's 8.78% fall. The scrip had, however, underperformed the market in past one quarter, declining 8.14% as against Sensex's 5.87% fall.

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

Shares of Zensar Technologies have surged 8.17% in three trading sessions from a recent low of Rs 215.40 on 21 August 2013, after the company during trading hours on 22 August 2013 said it has signed a large multiyear contract with a world leading direct selling company in the United States.

Zensar Technologies said 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 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 a software services provider.

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