IIFL has given buy rating Zensar Technologies with a target price of Rs 215. The share price moved up by 2.38 per cent from its previous close of Rs 201.40. The stock’s last traded price is Rs 206.20.

Zensar Technologies Ltd., incorporated in the year 1963, is a Mid Cap company (having a market cap of Rs 4524.29 Crore) operating in IT Software sector.

Zensar Technologies Ltd. key Products/Revenue Segments include Software Development Charges & Other Services which contributed Rs 1361.30 Crore to Sales Value (99.34 % of Total Sales) and Software Products which contributed Rs 9.00 Crore to Sales Value (0.65 % of Total Sales)for the year ending 31-Mar-2020.

Financials
For the quarter ended 30-06-2020, the company reported a Consolidated sales of Rs 991.24 Crore, down 2.61 % from last quarter Sales of Rs 1017.79 Crore and down 7.45 % from last year same quarter Sales of Rs 1071.02 Crore. The Company reported net profit after tax of Rs 74.89 Crore in latest quarter.

Investment Rationale
The brokerage said that the stock has given a bullish Golden crossover (89DEMA/200DEMA) on the daily chart


Promoter/FII Holdings
Promoters held 49.23 per cent stake in the company as of March 31, 2020, while FIIs held 17.65 per cent, DIIs 24.66 and public and others 8.46 per cent.