Midcap Defence Shares Rally 3.63% On Securing Rs 72.29 Cr Order From MoD

Zen Technologies Ltd. shares on Thursday zoomed 3.63% on securing an order from the Ministry of Defence (MoD), Govt. of India valued at Rs 72.29 Crores.

Zen Technologies Limited with a market cap of Rs 7,037.45 Crore is a midcap company operating in the defense sector. It is a leading provider of military training and anti-drone solutions.

Commenting on the results, Mr. Ashok Atluri-Chairman and Managing Director, said, "This is one more step towards implementing the Framework on Simulators that the Government released in September 2021. We expect such continuing implementation to lead to better training outcomes, cost savings and sustainability of the environment."

Zen Technologies shares on Thursday closed at Rs 837.35 per share post-order announcement. The shares of the company have seen a significant rise in the last few years, giving multibagger returns. It jumped 3.3% in the past 1 week. In 3 and 6 months, it has given multibagger returns of 124.67% and 217.60%. The stock has gained 299.69% in the past one year and 911.29% in 3 years.

Zen Technologies Limited is a renowned industry leader with over three decades of expertise in delivering cutting-edge Military Training and Anti-Drone solutions. The Company specializes in manufacturing state-of-the-art land-based military training simulators, driving simulators, live range equipment, and anti-drone systems. With a dedicated Research and Development (R&D) facility in Hyderabad, recognized by the Ministry of Science and Technology, Government of India, Zen Technologies has demonstrated its commitment to innovation. The Company has filed forover 130 patents, of which over 50 have been granted and has successfully shipped more than 1000 training systems worldwide.