Zensar Technologies hits new high; turns ex-date for stock split

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Zensar Technologies rallied 5% to Rs 352 on the BSE in intra-day trade today after the stock turned ex-date for stock split in the ratio of 5 for 1. The company fixed September 10, 2018 as record date for the stock split.

The board of directors of information technology firm at their meeting held on April 24, 2018 approved the sub-division of equity shares of the Company from one equity share of face value of Rs 10 each into five equity shares of Rs 2 each.

Zensar Technologies said the stock split is done to make shares more affordable to small shareholders and to increase liquidity.

In past five months, the market price of Zensar Technologies has zoomed almost 100% from Rs 177 on March 9, 2018 (adjusted to stock split). In comparison, the S&P BSE Sensex was up 15% during the same period.

At 11:19 am; the stock was trading 2% higher at Rs 342 on the BSE, as compared to 0.06% rise in the benchmark index. A combined 220,086 equity shares changed hands on the BSE and NSE so far.