Zen Technologies shares in news as firm wins order from defence ministry

Shares of Zen Technologies Ltd are in news today after the firm said the defence ministry has awarded an order valued at approximately Rs 100 crore for its state-of- the-art Force-On-Force Tank training system. The innovative system empowers tank units and sub-units to engage in training on real terrains under authentic conditions using their equipment, without the necessity for live ammunition.

Zen Technologies stock opened flat at Rs 675.15 in early deals today against the previous close of Rs 675.15 on BSE. Later, it touched a high of Rs 684.95.

Total 1439 shares of the firm changed hands amounting to turnover of Rs 9.77 lakh. Market cap of the firm rose to Rs 5715 crore on BSE. The stock is neither oversold nor overbought on technical charts with its relative strength index (RSI) at 33. It has low volatility of 0.9 in a year.

Zen Technologies shares are trading lower than 5 day, 10 day, 20 day, 30 day, 50 day but higher than 100 day, 150 day and 200 day moving averages. The stock has gained 230% in one year and risen 261% 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.

"The system has been designed, developed, and tested in-house by Zen. Following comprehensive trials, the Army recognised its immense suitability for their training needs. As this marks our inaugural order for the force-on-force tank training simulators, we anticipate a robust demand for this product in both domestic and international markets in the forthcoming period," said the firm in a communication to BSE.

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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