Zen Technologies eyes expansion in US market, stock gains 

Zen Technologies shares gained in the afternoon session on Thursday after the firm said it was making a strategic push into the US defence market. Zen Technologies stock opened higher at Rs 1840.90 on BSE. It rose 3.39% intraday to a high of Rs 1,900 on BSE. The stock hit a 52 week low of Rs 687.70 on January 24, 2024. Total 0.69 lakh shares of the firm changed hands amounting to a turnover of Rs 12.95 crore. Market cap of the firm climbed to Rs 17,028 crore on BSE. 

In terms of technicals, the relative strength index (RSI) of Zen Technologies stands at 51.6, signaling it's trading neither in the overbought nor in the oversold zone. Zen Technologies stock has a one-year beta of 1.1, indicating average 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.     

"The company has formalized its partnership with Applied Visual Technology Inc. D.B.A AVT Simulation, a premier provider of customized training systems, through a Memorandum of Understanding (MoU) inked today in Florida. This collaboration is set to revolutionize simulation and training solutions for defense and security forces," said Zen Technologies.  

“Our partnership with AVT Simulation underscores our commitment to providing innovative, scalable solutions for the rapidly evolving US defense market,” said Ashok Atluri, Chairman and Managing Director of Zen Technologies Limited. “With this collaboration, we aim to set new benchmarks in defense training and simulation, enhancing military readiness and safety across the board.”

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.