Wednesday 24 July 2013

Zensar Technologies surges on inking multi-crore deals worth Rs 100 crore in FY14

Zensar Technologies is currently trading at Rs 245.00, up by 3.50 points or 1.45% from its previous closing of Rs 241.50 on the BSE.

The scrip opened at Rs 244.00 and has touched a high and low of Rs 249.40 and Rs 244.00 respectively. So far 1321 shares were traded on the counter.

The BSE group 'B' stock of face value Rs. 10 has touched a 52 week high of Rs 302.45 on 03-Oct-2012 and a 52 week low of Rs 219.00 on 27-Feb-2013.

Last one week high and low of the scrip stood at Rs 269.05 and Rs 240.60 respectively. The current market cap of the company is Rs 1053.01 crore.

The promoters holding in the company stood at 48.35% while Institutions and Non-Institutions held 12.94% and 38.71% respectively.

Zensar Technologies has bagged significant orders at the start of the new financial year, in both Infrastructure Management Service and Application Management areas. This wins in the last few weeks are valued at over Rs 100 crore and the company’s order book continues to be healthy in the Infrastructure and Applications businesses. The order pipeline across all markets is in excess of 300 million US dollars.

The significant wins in the infrastructure management space include multi-million dollar deals with a top direct selling specialty company doing business primarily through the mail order channel of distribution with a million active customers; third party maintenance for a telecom giant based in the US, making more than 300 million transactions possible every day across multiple platforms and geographies; server consolidation and optimization support for a leading healthcare plan provider in the US; third party maintenance for a leading technology company in the global networking space; managed services including infrastructure network and security services for a world leader in digital security and multivendor support across multiple locations in the US for the world's leading dedicated toy and children’s products retailer.

Besides, the Applications business has opened new business areas in the nonlinear growth areas of the company like mobile application development for a significant South Korean multinational conglomerate company enhancing its digital footprint; inroads into the Mining sector with a significant package application deal in South Africa.

The company has also signed multiyear application maintenance and support deal with a large Insurance organization; application support and enhancement deal for a Fortune 1000 leading supplier of electronics and technologies in the automotive sector and a large package application deal with one of the largest manufacturers of processed foods in the Middle East.

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