Zen Technologies Shares Surge By 5% After Securing Rs 42 Crore Export Order – News18

According to the newest experiences, the shares of Zen Technologies, India’s main defence coaching supplier and anti-drone know-how firm, have skilled a major surge. This rise adopted the corporate securing an export deal valued at Rs 42 crore.

The inventory reached a excessive on Monday, November 20, 2023, buying and selling at Rs 5.758 on the NSE (National Stock Exchange), marking a 5 per cent enhance at 2:15 pm.

This surge in shares comes on the heels of the corporate securing a considerable export order of Rs 42 crore from a international nation. Zen Technologies is reaping rewards from the federal government’s Defence Export Initiative, witnessing a surge in exports.

The firm acknowledged on November 18, expressing, “This order, comprising state-of-the-art simulators, is from a friendly nation and stands as a testament to the Indian government’s efforts to boost defence exports, aligning with the national objective of becoming a net defence exporter,” in an change submitting.

In the final month, Zen Technologies’ shares have risen by 6.72 per cent. Over the final six months, this multi-bagger defence inventory has surged by 128 per cent, yielding a notable return of 305 per cent to buyers. This 12 months alone, the corporate has witnessed a staggering enhance of 289 per cent. Reports point out that the inventory’s 52-week excessive stands at Rs 911.40, whereas its lowest level was Rs 175.15.

A 12 months in the past, the corporate’s share value was Rs 194.90, marking a powerful enhance to Rs 758.55. The second quarter of this monetary 12 months proved extremely worthwhile for Zen Technologies, with gross sales rising by 99 per cent, leading to a revenue of Rs 66 crore. Their working earnings additionally rose by 86 per cent, contributing to an general web revenue surge of 78 per cent.