Top gainer of the week: This multibagger aerospace and defense company bags multiple new orders worth Rs 500 crore!
The stock has gained more than 200 per cent in the last six months.
Zen Technologies Limited informed in the exchange filing that the company has received work orders from the Ministry of Defence, Govt. of India. The order is related to the supply of Anti Drone System to the Ministry of Defence. The current order is based on Buy Indian (IDDM) category requiring Indian IP as a prerequisite with more than 60% indigenous content and Zen was a resultant single vendor. The order is worth Rs 160 crore and is to be executed within 12 months.
In addition to this, the company received another order from the export market worth Rs 340 crores.
Overall, these order wins resulted in a positive sentiment for the company as the stock is amongst the Top Gainers this week gaining more than 35 per cent, and also made a fresh 52-week high on Thursday.
Zen Technologies Limited develops and manufactures combat training solutions for the training of defense and security forces. It is actively involved in the indigenization of technologies, which are beneficial to Indian armed forces, state police forces, and paramilitary forces. Zen Technologies is headquartered in Hyderabad, India with offices in India and the USA.
On Friday, the stock opened at Rs 600.05 and touched a high and low of Rs 607.05 and Rs 573.95. The stock closed trading at 590.15, up by 0.22 per cent.
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