Know why Zen Technologies shares jumped 144 per cent in September

The stock of Zen Technologies is seeing frenzied buying activity this month, triggered by its first significant order in the anti-drone space from the Indian Air Force worth Rs 155 crore, won earlier this month. The stock has hit its upper circuit in nine consecutive trading sessions this month and is now trading at a lifetime high of Rs 237.35.

On September 03, 2021, the company announced that it secured an order to the tune of Rs 155 crore from the Indian Airforce for the supply of Counter Unmanned Aircraft Systems (CUAS) to be carried out in a 12-month time frame. 

The order from the Indian Airforce is significant in comparison to the order book of the company which stood at Rs 402.6 crore in September 2021, as against Rs 191.6 crore on June 30, 2021. Moreover, Zen Technologies remains confident of securing additional orders in the future. 

Zen Technologies is engaged in manufacturing land-based military training simulators, driving simulators, live range equipment and anti-drone systems. The company is also engaged in indigenous design, development and manufacture of sensors and simulators technology-based defence training systems and has relentlessly been providing Defence Training Solutions and seamless services to the Ministry of Defence (Armed Forces), Security Forces Police, Para-military forces. 

On Wednesday, the stock of Zen Technologies Limited locked at its upper circuit of 5 per cent again, and thereby trading was suspended at Rs 237.35 per share, up by 5 per cent or Rs 11.30 per share. The stock’s 52-week high is Rs 237.35 and the 52-week low is Rs 65 on BSE.