Shares of Zensar Technologies Ltd are in focus on Wednesday, following the RPG Annual Investor Conference 2026, as all eyes shifted to AI-led transformation strategy amid near-term demand headwinds. The Zensar Tech management characterised FY26 as a year of subdued performance, shaped by a combination of macro headwinds, soft discretionary technology spending, and select client-specific challenges, pressures that are expected to linger into the near term. 

Antique Stock Broking, which attended the conference, said Zensar Tech has articulated six strategic priorities for FY27, anchored around AI-native transformation, deeper vertical and service-line solutioning, improved account mining, stronger partner and advisor relationships, and large deal pursuit and execution. 

"The AI narrative is well-structured, though not yet sufficiently differentiated versus peers at this stage. Key initiatives include 40-plus ready-to-use vertical and horizontal agents, an 85 per cent-plus AI-native workforce, and partnerships with Anthropic, AWS, Databricks, and Snowflake. In our view, the Agentic Foundry and domain-specific accelerators are the more concrete proof points within the broader AI strategy," it said.

MOFSL, which also attended the conference, said Zensar has taken a deliberate call to stay away from the LLM/model layer, citing capital and ecosystem constraints. Instead, it is focusing on ‘AI orchestration’ across delivery, client solutions, and new offerings, MOFSL said.

"The company is also seeing improved deal momentum, supported by AI-led conversations across new buying centers, while maintaining a stance of growing above industry levels. We value Zensar at 17x FY28E EPS and reiterate our Buy rating with a target of Rs 640, implying a 31% upside potential," MOFSL said.

Antique said Zensar is positioning itself for medium-term AI-led transformation opportunities while maintaining margin discipline and operational execution to navigate near-term industry weakness. 

"However, FY27 growth is expected to remain back-ended due to persistent macro uncertainty and client-specific issues in 1HFY27, with the recently won large deal expected to contribute more
meaningfully in 2HFY27," it said while suggesting 'Hold' and a target of Rs 580.