This IT stock is trending today!

The company announced Q3FY23 results on Monday.  

On January 24, the market is trading in green. At 11:20 am, the S&P BSE Sensex is trading at 61,064.52, 0.18% up, while NIFTY50 is trading 0.14% up at 18143. Regarding Sectoral performance, IT and FMCG are outperforming, while Realty and Telecom are top losers for the day. Among stock-specific action, Zensar Technologies is one of the top gainers in BSE group ‘A’. 

The shares of Zensar Technologies are trading at Rs 232, up by 5% on the day. The stock opened at Rs 223.05 and so far, made an intraday high and low of Rs 238.8 and Rs 223.05, respectively. The stock has rallied after the disclosure of Q3FY23 results yesterday. The Q3FY23 revenue stood at Rs 1198 crore, while the net profit came in at Rs 76 crore. 

Zensar Technologies is one of the leading digital solutions and technology service providers in India. The company is based out of Pune and is a part of the RPG group (Rama Prasad Goenka Group). Zensar operates in high talent-intensive business and has over 2331 associates and 11,839 total employee headcount working in 40 plus offices worldwide. The company has a presence in 4 countries with 147 active clients. 

The company operates under RPG Group. Harsh Goenka is the chairman of the group. The group generates more than USD 4 billion in revenue and operates in a variety of businesses like infrastructure, tyres, technology, energy, plantation, and speciality. CEAT Tyres, KEC International, and RPG Life science are some of the major companies which are also part of the group.  

The company operates in 2 major business segments- Digital and Application Services and Digital foundation services. Digital and Application Services contributed 83.45% of the total revenue, while the remaining 16.55% comes from Digital foundation services. 

Talking about the geographical breakdown of the revenue – about 70.5% comes from the US, 18% is from Europe, and the remaining 11.5% is contributed by the African market. The company has a diversified client base with the top 5 clients contributing 34.9% to the revenue, the top 10 clients contributing 47%, and about 61.1% coming from the top 20 clients.