Shares of Zensar Technologies have clocked strong gains during the last few trading sessions. The stock rose 20 per cent to hit an all-time high of Rs 585.10 on the back of heavy volumes in intra-day trade today. It ended 19.58 per cent higher at Rs 583.05 against the previous close of Rs 487.60 on BSE. Market cap of the firm rose to Rs 13,164.41 crore.
As per the share price history, Zensar Technologies’s share on BSE closed at Rs 450 on September 8, 2021. It hit an all-time high of Rs 585.10 today. In a week, the stock has delivered 30 per cent returns. It has been gaining after the company announced that they have partnered with FRISS, the most widely adopted provider of AI-powered end-to-end fraud prevention and detection solutions for P&C insurers worldwide.
“This global, strategic partnership will enable Zensar’s clients to access the latest market-ready AI, a multitude of data sources and unparalleled customer service directly through FRISS,” the company said.
The share stands higher than 5 day, 10 day, 20 day, 50 day, 100 day, and 200 day moving averages. It has gained 207 per cent in the last 12 months and risen 146 per cent since the beginning of this year.
According to MarketsMojo, the company has a strong ability to service debt as it has a low Debt to EBITDA ratio of -0.14 times. Also, the company has high institutional holdings at 38.23%.
The technical trend has improved from Mildly Bullish on September 8, 2021, and the stock is technically in a Bullish range now. Multiple factors for the stock are bullish like MACD, Bollinger Band, KST, DOW and OBV.
However, it noted that the stock is trading at a premium compared to its average historical valuations and the valuation seems to be expensive right now.
“Zensar’s new CEO Mr. Ajay Bhutoria has announced new strategy to improve sales focus and benefit from strong demand environment. Zensar will be sharpening GTM by realigning company resources along five strategic growth areas – 1) experienced services – supported by earlier acquired entities Foolproof and Indigo Slate, 2) advanced engineering services, 3) data engineering analytics (AI/ML), 4) application services, and digital foundation services,” Prabhudas Lilladher said in a result update.
The company reported a net profit of Rs 101 crore for the quarter ended June 2021. Profit in the year-ago period stood at Rs 73.31 crore. Revenue from operations declined 5.4 per cent to Rs 936.80 crore in the June-ended quarter against Rs 991.24 crore a year ago.
Recently, the company also announced that it has signed a four-year, multi-million-dollar contract with the City of San Diego for Workplace and Enterprise Compute Manage IT Services.