Zen Technologies shares in focus today on credit rating upgrade

Shares of Zen Technologies Ltd are in news today after the firm said that CRISIL Ratings has upgraded/reaffirmed the credit ratings on bank facilities of the company. The  bank loan facilities are worth Rs 256 crore. The long term rating has been upgraded to CRISIL A/Positive from ‘CRISIL A-/Stable’. The credit rating firm has reaffirmed the aerospace and defence firm's Short Term Rating CRISIL A1. 

Zen Technologies shares closed  5.69% lower at Rs 1743.35 on BSE in the previous session. The stock hit a 52 week low of Rs 762.65 on January 29, 2024. Total 0.79 lakh shares of the firm changed hands amounting to a turnover of Rs 13.63 crore. Market cap of the firm slipped to Rs 15,740 crore on BSE. 

In terms of technicals, the relative strength index (RSI) of Zen Technologies stands at 29, signaling it's trading in the oversold zone. Zen Technologies stock has a one-year beta of 1, indicating average volatility during the period. Zen Technologies shares are trading lower than the 5 day, 10 day, 20 day, 50 day, 100 day and 200 day moving averages.     

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.