Zensar Technologies surges on inking major deal with large multibillion dollar American enterprise

18 Mar 2014

Zensar Technologies is currently trading at Rs. 393.75, up by 7.60 points or 1.97 % from its previous closing of Rs. 386.15 on the BSE.

The scrip opened at Rs. 380.00 and has touched a high and low of Rs. 408.90 and Rs. 380.00 respectively. So far 31131 shares were traded on the counter.

The BSE group 'B' stock of face value Rs. 10 has touched a 52 week high of Rs. 429.80 on 21-Jan-2014 and a 52 week low of Rs. 180.90 on 25-Sep-2013.

Last one week high and low of the scrip stood at Rs. 389.45 and Rs. 371.25 respectively. The current market cap of the company is Rs. 1690.96 crore.

The promoters holding in the company stood at 48.26 % while Institutions and Non-Institutions held 12.66 % and 39.08 % respectively.

Zensar Technologies has signed a major deal with a large multibillion dollar American enterprise that designs and builds specialty trucks and military vehicles, and that operates as a leader in every market in which it competes. The company is a Fortune 500 organization with manufacturing operations in the Americas, Europe, Asia, and Australia. This large deal with the client involves a full-featured team in select areas, to scale with demand over a two-year period. The strategic nature of this project positions Zensar well with the client and also has the company poised for additional opportunities in the near future. Currently, Zensar is building critical enterprise wide systems for the client's supplier network.

It has also signed its largest deal to date in the dual shore IM space with an existing American client. Another significant deal has been closed with a specialty insurance and reinsurance company which operates underwriting hubs worldwide and operates more than 50 offices worldwide, expanding Zensar's existing reach from the company's UK operations into the US as well.

Zensar Technologies is among the top 20 software services providers from India. Zensar is the world's first enterprise-wide SEI CMM Level 5 Company and was also later certified as a CMMI Level 5 Company with industry expertise that spans Retail, Manufacturing, Banking, Insurance, Utilities, Healthcare and Life Sciences.


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