CNBC-Awaaz has got exclusive information quoting sources that Zensar Tech Large investor Marina Holdco is preparing to sell 10 percent stake in the company. According to sources, this deal can be done through block deal. However, Marina Holdco’s response on this news is still awaited.
According to sources, Marina Holdco may sell 23 million shares in Zensar Tech through the block deal. Marina Holdco will sell about 10 percent stake in Zensar Tech through this deal. Marina Holdco bought a stake in Zensar Tech in 2015.
Zensar Tech is a digital solutions company that provides its services in all countries of the world. The company caters to the banking, financial, hi-tech, manufacturing, insurance, consumer services and many other sectors. The company provides services like designing, cloud technology, advanced analytics and business acceleration to its clients.
At present, this stock is seen around Rs 292 with a fall of about Rs 20 or 6.1 percent on NSE. Zensar Tech founded in 1963 is a midcap company with a market cap of Rs 6967.15 crore. Giving buy rating to this stock, Yes Securities has given a target of Rs 340.
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