Buy Zensar Technologies, target price Rs 320: Motilal Oswal

Motilal Oswal has buy call on Zensar Technologies with a target price of Rs 320. The current market price of Zensar Technologies Ltd. is Rs 287.

Zensar Technologies Ltd., incorporated in the year 1963, is a Mid Cap company (having a market cap of Rs 6063.55 Crore) operating in IT Software sector.

Financials
For the quarter ended 31-03-2021, the company reported a Consolidated Total Income of Rs 882.90 Crore, down -6.00 % from last quarter Total Income of Rs 939.21 Crore and down -14.60 % from last year same quarter Total Income of Rs 1033.90 Crore. Company reported net profit after tax of Rs 90.63 Crore in latest quarter.

Investment Rationale
The brokerage maintains Buy on the stock in the likelihood of a recovery in growth and attractive valuation

Promoter/FII Holdings
Promoters held 49.2 per cent stake in the company as of March 31, 2021, while FIIs held 16 per cent, DIIs 24.6 per cent and public and other 10.2 per cent.

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