Shares of Zen Technologies rose over 2% on Monday after the defence simulation and technology company announced a recent Patent Grant in India for its ‘Mine Detection System’. Zen Technologies stock gained 2.5% to Rs 1745 on BSE against the previous close of Rs 1702.50 on BSE. Market cap of the firm stood at Rs 14,394 crore.
The multibagger stock hit a 52 week low of Rs 650 on October 26, 2023 and reached a record high of Rs 1784 on August 12, 2024.
Total 0.20 lakh shares of the firm changed hands amounting to a turnover of Rs 3.45 crore in Monday’s session.
In terms of technicals, the relative strength index (RSI) of Zen Technologies stands at 59.3, signaling it's trading neither in the overbought nor in the oversold zone. Zen Technologies stock has a one-year beta of 0.1, indicating very low volatility during the period. Zen Technologies shares are trading higher than the 5 day, 10 day, 20 day, 50 day, 100 day and 200 day moving averages.
“This innovation marks a substantial leap in the field of minefield reconnaissance, planning, and clearance, specifically addressing the development of a safer, more efficient, and accurate approach to mine detection. The Mine Detection System incorporates GPS/GIS technology to plot and record in memory the coordinates of mines in terms of Latitude/Longitude and Military Grid in Defence Series Maps (DSM).
Shares of multibagger Zen Technologies Ltd have rallied 829% in two years and over 1978% in the last three years.
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.