Zensar Tech shares gain 7% on multi-year contracts in US

Moneycontrol Bureau

Zensar Technologies shares surged more than 7 percent after the software services provider signed large multiplayer contracts in the US, but it saw some profit booking later on.

"The second quarter of FY14 has been good with large strategic deals in the pipeline getting converted, across the applications and infrastructure businesses," says Ganesh Natarajan, vice chairman and CEO.

Also Read - Deals won in past 6 months will give higher margins: Zensar

The company has signed a five-year total infrastructure outsourcing deal with a world leading direct selling company for five of its remote sites.

"Zensar will also be working with a leading healthcare management organisation providing them infrastructure services for migration of the organisation's data centres to the Cloud," according to its release.

It has a robust pipeline of over USD 250 million of new business and expects all business lines to do well during FY14.

The stock settled at Rs 218.85, up 1.60 percent amid hefty volumes on the Bombay Stock Exchange.