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. According to reports from Essential Business Intelligence, the stock was trading around ₹527 apiece, up from its previous close at ₹508.25 on Friday. The Nifty IT index gained around 0.74%, supporting the sector-wide rally. 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.
According to Technical & Derivatives Analyst Deven Mehata from IDBI Capital Markets and Securities Ltd., shares of Zensar Technologies have moved into a stronger technical setup after their recent gains. As reported by Essential Business Intelligence, the analyst recommends maintaining a 'Hold' stance rather than chasing the rally for investors already holding the stock. He suggests keeping a trailing stop-loss at ₹434 to protect gains in case of any reversal, while investors may consider booking partial or full profits around ₹590. The stock is likely to face a small resistance near ₹520, a level that traders should closely monitor based on the current technical structure.
Recent technical analysis shows positive momentum indicators for Zensar Technologies. According to data from StockEdge.com, the stock's RSI value has risen to 58.84 from the previous reading of 44.92, indicating strengthening momentum in the stock's price action. An uptrend signal is generated when the RSI value crosses above 50 from lower levels, suggesting potential upward movement and often used by traders to identify buying opportunities in momentum-driven markets. This technical development supports the broader recovery trend in the IT sector.
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. According to the company's announcement, the record date for being eligible to receive its final dividend is Friday, 17 July, and the payment of the dividend will be done on or before 29 August, 2026.
The stock has been rallying over the past month and gained over 16% during the period when Nifty 500 gained 3%. However, as reported by Essential Business Intelligence, 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 ₹12,267.5 crore, and the stock is trading at a price-to-earnings multiple of 14.93 times around 10.24 am today.
