This IT Stock Made Ashish Dhawan 10% Richer Today

Zensar Tech shares surged up over 10% to hit a new 52-week high of ₹375.90. As per the latest shareholding data, ace Investor Ashish Dhawan holds a 1.06% stake in the company.

What Happened: Shares of the software company have been upbeat after the company’s earnings for the March quarter beat expectations. The company’s revenue from operations grew 5.1% year-over-year to ₹1,212.6 crore. Net profits stood at ₹119.2 crore, down 8.24% but up over 55% sequentially. The company also announced a ₹3.50/share dividend for the year ended March.

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Impressed by the numbers domestic brokerage firm HDFC Securities maintained its ‘buy’ rating for the stock and increased the price target to ₹445 from ₹330. The firm noted that the company’s revenue was in line with its estimates and the EBITDA margin beat its expectations.

So, now for the part you are looking for here’s how much Zensar Tech added to Ashish Dhawan’s net worth today. Dhawan owns 1.06% or 24 lakh shares of the company. Now, when the stock closed at ₹339.50 on Friday, the value of his holding was ₹81.4 crore. With the surge today, the value of his stake went up to ₹90.2 crore.

Price Action: Zensar Tech’s share price was up 7.66% to trade at ₹365.50 on Monday afternoon.

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Posted In: EquitiesMarketsAshish DhawanZensar Tech