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Zensar Technologies surges 7% on multi-year contract with City of San Diego

The stock has surged 7% to Rs 968 on the BSE in early morning trade, trading close to its 52-week high of Rs 1,000.

SI Reporter  |  Mumbai 

Photo: Twitter
Photo: Twitter

Shares of have surged 7% to Rs 968 per share on the in early morning trade after the company announced that has won a four year, multi-million dollar contract from the for network services.

The stock is trading close to its 52-week high of Rs 1,000 touched on January 24, 2018 on the in intra-day trade.

The contract has the option of extension of two additional two year terms with the total not to exceed contract value being approximately USD 79 million.

"This partnership aims to make the more transparent and accountable while enhancing security - all at a lower cost for taxpayers," said Mayor Kevin Faulconer. "We look forward to working with Zensar on several new projects to help modernize and improve the City's network as we replace aging technology with new digital infrastructure to better serve our residents."

At 09:25 am; the stock was trading 6% higher at Rs 955, as compared to 0.06% rise in the S&P Sensex. A combined 41,504 shares changed hands on the counter on the BSE and so far.

First Published: Wed, April 04 2018. 09:27 IST