- Shares of Zensar Technologies rose nearly 4% in intraday trade on Monday
- The stock traded around Rs 527, up from Rs 508.25 on Friday
- Analyst recommends holding the stock with a stop-loss at Rs 434
Shares of Zensar Technologies Ltd. climbed nearly 4% in intraday trade on Monday, reflecting renewed buying interest in the IT stock amid a broader recovery in technology shares.
The stock was trading around Rs 527 apiece, up from its previous close at Rs 508.25 on Friday, while the Nifty IT index gained around 0.74%.
The rally comes after a period of consolidation, with investors returning to select IT companies on expectations of better earnings results, stable demand, and improving deal pipelines.
Analyst's Take on Zensar Tech
According to Technical & Derivatives Analyst Deven Mehata, IDBI Capital Markets and Securities Ltd., shares of Zensar Technologies have moved into a stronger technical setup after their recent gains. However, the stock is likely to face a small resistance near Rs 520, a level that traders should closely monitor.
For investors already holding the stock, the analyst recommends maintaining a 'Hold' stance rather than chasing the rally. He suggests keeping a trailing stop-loss at Rs 434 to protect gains in case of any reversal.
On the upside, Mehata believes investors may consider booking partial or full profits around Rs 590, which represents the next significant target based on the stock's current technical structure.
Upcoming AGM, Record Date for Dividend
In an exchange filing last week, the company announced the schedule for its upcoming annual general meeting, which has been fixed for 30 July, 2026.
The company also stated the record date for being eligible to receive its final dividend, which is Friday, 17 July, and the payment of the dividend will be done on or before 29 August, 2026.
Share Price Performance
The stock has been rallying over the past month and gained over 16% during the period when Nifty 500 gained 3%.
However, the stock has declined over 35.5% in the past year, even after the past month's rally.
The market capitalisation of Zensar Tech at the end of the previous session was Rs 12,267.5 crore.
The stock is trading at a price-to-earnings multiple of 14.93 times around 10.24 am today.
Also Read: Zensar Technologies Rallies 15% In Trade — Tech Analysts Decode The Reason
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