Shares of Zen Technologies Ltd, an aerospace and defence company, crashed 13% on Monday, 13 January, despite the company announcing that the Board of Directors of the company approved a $10 million investment in one or more tranches of its wholly owned subsidiary, Zen Technologies USA, Inc.

Zen Technology USA, formed on 9 March 2018, focuses on designing and developing combat training simulators and technology for military and security forces. Among its products are live-fire, virtual, and constructive training solutions; counter-drone technology receives special focus. The company says the investment is meant to capitalize on new opportunities for growth in the US market.

Zen Technologies designs, develops and manufactures state-of-the-art simulators. In addition to government organizations in sectors like infrastructure, mining, and transportation, the company primarily caters to the civilian market by offering training simulators for armed forces, police, paramilitary, and anti-drone systems.

At around 2:27 PM on Monday, the shares were trading at Rs 2,185.20, down 11.11% from their previous closing of Rs 2,458.45 on the NSE. 

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