ICICI Direct has given Hold recommendation for Zensar Technologies with a target price of Rs. 250 in its research report issued on Sep 15, 2022

ICICI Direct’s research report on Zensar Technologies

Zensar Technologies (Zensar) offers application & IMS services to hi-tech, manufacturing, retail and BFSI. • Zensar has grown organically and inorganically over the years • Net debt free and healthy double digit return ratio (with RoCE of 19%).

Outlook

We maintain our HOLD rating on the stock. We value Zensar at Rs 250 i.e. 15x P/E on FY24E.

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