ICICI Direct has given Buy recommendation for Zensar Technologies with a target price of Rs. 365 in its research report issued on May 13, 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 continue to remain positive and retain our BUY rating on the stock. We value Zensar at Rs 365 i.e. 16x P/E on FY24E.

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