Zensar Technologies Rises After New Acquisition Plans
Shares of the Pune-based application software developer rose as much as 2.7 percent to Rs 947. — Zensar Technologies Ltd. will acquire U.S.-based insurance-tech company Cynosure for $33 million, to expand its foothold in the fast-growing property and casualty insurance space. A combination of internal accrual and debt will be used to finance the entire deal, the midcap I.T. firm said in an exchange filing.
The stock has been rising for three consecutive trading sessions. Trading volume was 6.2 times the 20-day average.
