Stock Below Rs 100: Taneja Aerospace Aviation locks in upper circuit after soaring ~20 per cent

The share price of Pune-based non-military aircraft manufacturer Taneja Aerospace Aviation caught investors attention after the stock was locked in the upper circuit. The stock of Taneja Aerospace Aviation gained ~20 per cent with a spurt in volume on Tuesday even as the frontline indices and the broader markets slipped into the red. 

We have already seen a multibagger returns in Zen Technologies, where the stock has gained by more than 100 per cent in just one month. The share price of Zen Technologies jumped ~10 per cent even as the stock was locked in the upper circuit on Tuesday, on a closing basis.

The investors are betting on the GOI decision to allow the drones to be used for private sectors. The defence sector companies that manufacture drones are in demand as it is widely speculated that these drones will be in high demand for delivery of good by the e-commerce companies, once the approvals are given by the government.

Taneja Aerospace Aviation shares managed to close above the 30D SMA, indicating a positive trend in the near term. The stock gained with a huge spurt in volume on Tuesday.

Taneja Aerospace Aviation is a aircraft manufacturing company.