Shares of Zensar Technologies rose 5% amid a market crash today after Nippon India Mutual Fund raised stake in the company. The MF has bought 39.68 lakh shares or 1.75% stake from the open market. After the transaction, the stake of mutual fund has increased from 3.47% to 5.22%.
Zensar Technologies shares rose up to 5.1% to Rs 308.2 against the previous close of Rs 293.25 on BSE.
Stock of Zensar Technologies has risen 17.58% in the last seven sessions. Zensar Technologies shares are trading higher than the 5 day, 20 day, 50 day, 100 day and 200 day moving averages. The stock has gained 39.07% in 2023 and lost 12% in a year. Zensar Technologies shares have gained 35.69% in a month.
Total 3.39 lakh shares of the firm changed hands amounting to a turnover of Rs 10.11 crore on BSE. The stock hit its 52-week high of Rs 394.50 on April 5, 2022 and a 52-week low of Rs 202 on December 23, 2022.
Market cap of the firm rose to Rs 6,699.65 crore on BSE.
In terms of technicals, the relative strength index (RSI) of Zensar Technologies stock stands at 81.5, signaling it’s trading in the overbought zone.
Zensar Technologies stock has a one-year beta of 1.2, indicating high volatility during the period. Zensar Technologies shares are trading higher than the 5 day, 20 day, 50 day, 100 day and 200 day moving averages.
The price to equity ratio of the firm stands at 19.62 against 19.76 for the industry.
In the third quarter of this fiscal, net profit slipped 16% to Rs 76.5 crore against Rs 91 crore profit in the year ago period. Revenue gained 8.6% to Rs 1223.5 cr in Q3 against Rs 1126.6 crore in Q3 of the last fiscal.
On a quarter-on-quarter basis, net profit climbed 34.68% from Rs 56.8 crore in the September 2022 quarter. However, sales slipped 3.13% from Rs 1263 crore in Q2 of this fiscal.
Meanwhile, Sensex fell over 550 points while Nifty tested sub-17,700 levels trade today. The BSE market capitalisation slipped Rs 2.79 lakh crore to Rs 262.41 lakh crore from Tuesday’s Rs 265.21 lakh crore.
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