Shares of Zen Technologies Ltd gained nearly 5% in early deals today after Tata AIA Life Insurance Company bought 20 lakh equity shares or 2.38 percent stake in the company at a price of Rs 725 per share in a block deal. The transaction was worth Rs 145 crore. However, promoter Tara Dutt Atluri sold 15 lakh shares, or 1.78 percent, of Zen at the same price, amounting to Rs 108.75 crore.
Zen Technologies stock opened higher at Rs 754 today against the previous close of Rs 741.40 on BSE. Later, the multibagger stock touched a high of Rs 778, rising 4.93% in early deals.
Total 5420 shares of the firm changed hands amounting to a turnover of Rs 41.49 lakh. Market cap of the firm rose to Rs 6455 crore on BSE. The stock is neither oversold nor overbought on technical charts with its relative strength index (RSI) at 49.6. It has low volatility of 0.2 in a year.
Zen Technologies shares are trading higher than the 5 day, 10 day, 20 day, 30 day, 50 day, 100 day, 150 day and 200 day moving averages. The stock has gained 291% in one year and risen 311% since the beginning of this year. The share hit a 52-week high of Rs 912.55 on August 17, 2023 and a 52-week low of Rs 175.50 on December 23, 2022.
In the September 2023 quarter, net profit trebled to Rs 15.3 crore as against Rs 5.6 crore logged in the corresponding quarter last year. Q2 revenue almost doubled year-on-year to Rs 71.8 crore.
Zen Technologies designs, develops and manufactures state-of-the-art combat training solutions for the training of defence and security forces worldwide. The firm's headquarters are located in Hyderabad with offices in India and USA. Zen Technologies manufactures over 40 different Live Fire, Live Instrumented, Virtual and Constructive training systems to support individual and collective training capabilities.
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