Zensar Tech climbs 6% on entering into a partnership with Claimatic

Shares of Zensar Technologies extended gains to the third straight day on Friday and climbed nearly 6 per cent after the company announced a strategic partnership with US-based Claimatic.

Following this development, the stock of Zensar Technologies jumped 5.70 per cent on the BSE in intra-day trade to touch a high of Rs 290. However, the scrip pared some gains and was trading 2.73 per cent up at Rs 281.85 around 9.55 am. At the same time, the BSE barometer Sensex was down 67.6 points or 0.14 per cent at 49,678.

"Zensar has entered into a global strategic partnership with US-based Claimatic. This partnership combines industry-leading, intelligent decisioning software of Claimatic with Zensar’s world-class strategic consulting, enterprise delivery, and implementation services," the company said in an exchange filing post the market hours on Thursday. READ HERE

This new, innovative partnership leverages the respective strengths of Claimatic and Zensar to create compelling value for both companies and their mutual clients, the release further added.

Commenting on the partnership, Zensar's Chief Executive Officer and Managing Director Ajay S. Bhutoria said: “This collaboration will enable us to offer insurers digital solutions that will help them remain competitive and differentiate themselves. We look forward to mutual success and growth from this partnership.”

Zensar is a digital solutions and technology services company that partners with global organizations across industries to achieve digital transformation.

The stock has retreated 19.63 per cent from its 52-week high level of Rs 346.95 touched on March 16, 2021. However, on a year-to-date basis, Zensar is up 15.63 per cent as against a gain of 4 per cent in Sensex.


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