Zen Technologies’ shares gain 4% on Defence Ministry’s Rs 228-crore order

The share touched a 52-week high of Rs 912.55 and a 52-week low of Rs 175.50 on 17 August, 2023 and 23 December, 2022, respectively.

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Zen Technologies‘share price rose more than 4 percent intraday on September 26 after the company said it has received an order worth Rs 227.65 crore from the Ministry of Defence. At 10:13 am, Zen Technologies was quoting at Rs 784.50, up Rs 29.45, or 3.90 percent on the BSE.

The domestic order is for the supply of Anti-Drone systems. Built into the contract is Comprehensive Maintenance Contract (CMC) post-warranty, at a cost of Rs 43.22 crores, inclusive of GST, said the company.

The share price surged nearly 300 percent in the last 9 months.

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The company’s total order included, Training Simulators (including service and AMC) of Rs 819.21 crore and Counter Drone System (including service and AMC) worth Rs 648.11 crore.

The company to execute its cumulative order book for equipment over the next 18 months and anticipating receiving substantial orders in the coming months.

Recent Orders Win

On September 25, the company had received orders worth Rs 227.6 crore for supply of Anti Drone systems to Ministry of Defence, Government of India.

On September 22, the company received order worth of Rs 227.65 crore including GST from Ministry of Defence.

On September 5, the company secured orders of Rs 123.3 crore from the defence ministry (inclusive of 18 percent GST).

The share touched a 52-week high of Rs 912.55 and a 52-week low of Rs 175.50 on 17 August, 2023 and 23 December, 2022, respectively.

Currently, the stock is trading 14.03 percent below its 52-week high and 347.01 percent above its 52-week low.

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