Zensar Technologies hits 52-week high | Business Upturn

Zensar Technologies hits 52-week high

FII and DII are heavily cutting there stake in the business but retail investors remain bullish on the stock

On Friday, Zensar Technologies, an Indian firm that provides software and services, achieved a new 52-week high.

On May 12th, the share price reached a new 52-week high of 341. This is a 10% increase from the previous day. This was a response to the quarterly results that were released by the corporation.

Since June of 2020, both domestic and foreign institutional investors have been pessimistic about the company, but retail investors have been bullish on the stock.

The firm said on Thursday that its consolidated net profit for the March quarter increased by 56 percent quarter-on-quarter to 119.2 crores. The revenue came in at 1,212.6 cr, a 1.3% increase over the previous quarter’s total of 1,197.6 cr.

According to Manish Tandon, Managing Director and CEO of Zensar Technologies, “In Q4FY23, we continued to make significant progress towards improving profitability,” as seen by an increase in EBITDA of 320 basis points, which brought the percentage to 14.5 percent.

The Rama Prasad Goenka Group, which is both an industrial and services conglomerate, owns this business and operates it as a subsidiary.