Zen technologies up by 32 per cent in 6 trading session; Here is why!
The share price of Zen Technologies is up by more than 7 per cent on Friday trading session on an intraday trading basis. The stock is up by more than 32 per cent in 6 trading sessions and especially is seen rising with heavy volume in the past couple of trading sessions.
The stock is in limelight because the central government has notified the Drone Rules 2021 on Thursday which are more liberalized where several requirements and approvals have been abolished that may make drone operations simpler for civilian drone operators.
PM Modi updates on the latest rule concerning the drones in his tweet.
Zen Technologies is a small arms manufacturing company. Market participant are betting in better prospects for the company post the fresh notification from the GOI on Drone Rules for 2021.
Zen Technologies, even though a debt free company has failed to impress investors with its earnings quality. The valuations remain expensive for the company. In one year, the stock has underperformed both the BSE Sensex and BSE SmallCap Index. Zen Technologies is a high beta stock.