Zensar Technologies surges on securing multi-million dollar deal with South African firm

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Updated: September 9, 2016 4:57:56 PM

Zensar Technologies shares surged over 10 per cent on Friday after the company informed bourses that it has signed multi-million dollar development deal with Avis Fleet in South Africa.

Stocks in focusZensar Technologies shares surged over 10 per cent on Friday after the company informed bourses that it has signed multi-million dollar development deal with Avis Fleet in South Africa. (Photo: Reuters)

Zensar Technologies shares surged over 10 per cent on Friday after the company informed bourses that it has signed multi-million dollar development deal with Avis Fleet in South Africa. The digital transformation project involves adding scalability and agility to the company’s strategic technology roadmap.

At 10.50 am, Zensar Technologies shares were trading 7.16 per cent up at Rs 1076.75. The scrip opened at Rs 1030 and has touhced a high and low of Rs 1111 and Rs 1030, respectively. Later, the scrip ended 3.71 per cent up at Rs 1042.10.

The BSE group ‘B’ stock of face value Rs 10 has touched a 52-week-high of Rs 1136.05 on August 9, 2016 and a 52-week-low of Rs 764.00 on September 29, 2015.

The promoters holding in the company stood at 47.94 per cent, while Institutions and Non-Institutions held 16.06 per cent and 36.00 per cent respectively.

“Spread over a time-period of two years, it involves adding scalability and agility to the company’s strategic technology roadmap. The company will leverage its digital technology skills and expertise to enable Avis Fleet in improving overall customer experience and visible enhancement in the quality of service. The key business objective is to secure and grow its market leadership position in this field across Africa,” the company said in a BSE filing.

Zensar Technologies operates as a software service company. It is engaged in software development, networking, e-commerce, and systems integration services. It also provides consulting, collaboration services and business process outsourcing services.

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