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Zen Technologies Ltd shares rallied 12 per cent to hit a 52-week high of Rs 107.75 on the BSE in intra-day trade on Friday on the back of heavy volumes. The stock of the defence company has zoomed 30 per cent in the past three trading days.
In the morning trade, it was trading 9 per cent higher at Rs 104.70, compared to a 0.38 per cent decline in the S&P BSE Sensex. The trading volumes on the counter jumped over seven-fold, with a combined 0.91 per cent of the total equity has changed hands on the NSE and BSE so far.
Zen Technologies manufactures land-based military training simulators, driving simulators, live range equipment and anti-drone systems. It also has its training platform to provide a real battle experience by integrating its entire range of product offerings.
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Anti-drone systems, drones, and training solutions will continue to be the core business of Zen Technologies, and the company has all the simulators required for the legacy equipment used by the Indian Army, it said.
India’s defence industry is well-positioned to grow leaps and bounds at the backing of the aggressive policies that favour indigenous sourcing. The Ministry of Defence (MoD), through its various schemes, has boosted this process, and indigenisation is taking place at a component, system, and subsystem level.
Stock Covered in the news
