Zensar Technologies shines on getting nod to merge US-based 100% step-down subsidiaries into its USA arm

19 Mar 2021 Evaluate

Zensar Technologies is currently trading at Rs. 305.45, up by 5.30 points or 1.77% from its previous closing of Rs. 300.15 on the BSE.

The scrip opened at Rs. 317.95 and has touched a high and low of Rs. 317.95 and Rs. 295.80 respectively. So far 16570 shares were traded on the counter.

The BSE group 'A' stock of face value Rs. 2 has touched a 52 week high of Rs. 346.95 on 16-Mar-2021 and a 52 week low of Rs. 63.70 on 24-Mar-2020.

Last one week high and low of the scrip stood at Rs. 346.95 and Rs. 279.00 respectively. The current market cap of the company is Rs. 6771.99 crore.

The promoters holding in the company stood at 49.22%, while Institutions and Non-Institutions held 40.77% and 10.01% respectively.

Zensar Technologies’ board has in-principally consented/authorised/approved merger of the US-based 100% step-down subsidiaries (Merging Entities) into Zensar Technologies Inc., USA, a material wholly owned subsidiary of the company. The four Merging Entities are Keystone Logic Inc., Professional Access, Cynosure Inc. and Indigo Slate Inc.

Consequent to the Merger, the Merging Entities would cease to exist as step-down subsidiaries/subsidiaries of the company. The rationale for merger is to achieve greater business synergies and higher operational efficiencies. It will also lead to effective management and unified control of operations.

Zensar Technologies, formerly known as ICIL was acquired by the RPG group in 1989. It is a globally focused software and services company spread across eighteen countries across the world.

Zensar Technologies Share Price

603.25 -2.45 (-0.40%)
28-Mar-2024 16:01 View Price Chart
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