Zensar Tech Recommends Dividend Of Rs 7 Stock Witnesses Sharp Decline

Despite a strong positive undertone floating in the market, Zensar Technologies Limited witnessed a sharp fall in the opening hours on Wednesday. The company recently came up with the quarterly financial results for the quarter ended on March 31, 2017.

The share price declined owing to the poor quarterly performance of the company. The company’s consolidated revenue for the quarter came in at Rs 743 crore, registering 5.5% QoQ decline. The company has also recommended a dividend of Rs 7 per equity share for the year ended 2016-17, which is subject to the declaration of the same by the members at the ensuing Annual General Meeting.

As of 0955 hours on Wednesday, the stock touched its intraday low of Rs 814.25 per share, down by Rs 102.55 per share or around 11%.

The company has also recently agreed to acquire Keystone Logic Solutions Limited for gaining strong foothold in the IT sector.

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About Suhani Varma