Shares of multibagger Zen Technologies Ltd rose 1,629% in the last three years. The defence stock, which closed at Rs 100.35 on August 27, 2021 was trading at Rs 1735.65 on July 29, 2024 on BSE. An amount of Rs 1 lakh invested in the Zen Technologies stock three years ago would have turned into Rs 17.35 lakh today. In comparison, Sensex has risen 46.11 per cent during the period. Zen Technologies stock opened lower at Rs 1814.95 on BSE. It was stuck in the lower circuit of 5% at Rs 1735.65 in the afternoon session today. The stock hit a 52 week low of Rs 650 on October 26, 2023 and a 52 week high of Rs 1969.85 on August 27, 2024.
Total 0.63 lakh shares of the firm changed hands amounting to a turnover of Rs 10.98 crore in Thursday’s session. Market cap of the firm slipped to Rs 15,671 crore on BSE.
12 promoters held 51.26 per cent stake in the firm and 2.19 lakh public shareholders owned 48.26 per cent for the quarter ended June 2024. Of these, 212476 resident individuals held 2.5 crore shares or 27.71% stake with capital up to Rs 2 lakh. Only two resident individuals with 0.59% stake or 5.32 lakh shares held capital above Rs 2 lakh for the period ended June 2024.
In terms of technicals, the relative strength index (RSI) of Zen Technologies stands at 66.4 signaling it's trading neither in the overbought nor in the oversold zone. Zen Technologies stock has a one-year beta of 0.8, indicating very low volatility during the period. Zen Technologies shares are trading higher than the 20 day, 50 day, 100 day, 200 day but lower than the 5 day and 10 day moving averages.
Recently, the company said it has successfully raised Rs 1,000 crore via its first-ever Qualified Institutional Placement (QIP). The QIP was launched on August 21, 2024 and closed on August 23, 2024.
Zen Technologies Limited designs, develops, and manufactures defence training systems, based on sensors and simulators technology. The company’s category of products includes land-based military training simulators, driving simulators, live range equipment and anti-drone systems. The company also has a training platform in Hyderabad, with an integration of its complete product range. Its Anti-Drone System (ZADS) system works on drone detection, classification and tracking on passive surveillance, camera sensors and neutralization of threat by jamming drone communication.