This multibagger stock made investors’ bumper earnings in 2021, brokerage firm advised to buy

Multibagger stock: Shares of Zensar Technologies have been performing very well. The stock has risen 178% in a span of one year, while it has given multibagger returns of over 113% so far this year (Year-to-date or YTD). From trading around ₹242 per stock level in early January, Multibagger stock is currently trading near ₹516.

Within the IT sector, Zensar Technologies is showing resilience by maintaining its 50-day EMA above the 50-day EMA, brokerage firm ICICI Securities said in a recent note. The brokerage firm has given a ‘Buy’ rating to the stock and has recommended a target price of ₹595 per share and a stop loss of ₹468 for the three-month time frame.

Zensar Technologies provides Application and IMS services to Hi-Tech, Manufacturing, Retail and BFSI. It is net debt free and has a healthy double digit return ratio (with a ROCE of 19%). The company saw healthy growth due to new logos, healthy demand and a boom in existing customers. Zensar has aligned its services with client spend, which is helping to accelerate growth. Zensar has also hired leadership to drive growth in this segment.

Disclaimer: (The information provided here is for informational purposes only. It is important to mention here that investing in the market is subject to market risks. Always consult an expert before investing money as an investor. Anyone from Also investing money is never advised here.)

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