Near-term weakness on several counts makes Zensar vulnerable
PRO Only Highlights
– Quarterly performance largely backed by improved realisations
– Medium-term triggers China plus and protectionist measures for tyre industry
– Valuations not inexpensive; but improved medium-term outlook
– Quarterly performance largely backed by improved realisations
– Medium-term triggers China plus and protectionist measures for tyre industry
– Valuations not inexpensive; but improved medium-term outlook
The stock of Zensar Technologies (CMP: Rs 229 Market Cap: Rs 5182 crore) has corrected 38 percent against the IT index of 22 percent and nearly flat Nifty since the beginning of the current fiscal. While the correction merits attention, the question is whether it is a right buy or a judicious avoid at this juncture. After a lacklustre FY21 that was in sharp contrast to its peers, FY22 was sort of a turnaround year for Zensar. Under the new…
