Zen Technologies Ltd.’s shares are in the headlines today after the company said that the military ministry has given an order for its cutting-edge Force-On-Force Tank training system, valued at about Rs 100 crore. The ground-breaking method enables tank units and subunits to train on actual terrain in real-world scenarios with their gear and no need for live ammo.
In early trading today, Zen Technologies‘ shares began flat at Rs 675.15, down from the previous close of Rs 675.15 on the BSE. It eventually reached a high of Rs 684.95.
After rigorous testing, the army approved the in-house designed and developed force-on-force tank training system, indicating potential demand in both domestic and international markets. Regarding the army’s possible adoption of the Zen Armoured Combat Training System (ACTS) for thorough combined arms training, Zen is upbeat.
Modern combat training systems are created, developed, and produced by Zen Technologies for use by defence and security personnel all around the world. The company has operations in India and the United States, and its headquarters are in Hyderabad. More than 40 different Live Fire, Live Instrumented, Virtual, and Constructive training systems are produced by Zen Technologies to accommodate both individual and group training capabilities.
The defence ministry placed orders with Zen in September for anti-drone equipment valued at Rs 227.65 crore. It had also obtained an order from the Ministry of Defence worth Rs 202 crore.
By the end of the current fiscal year’s first quarter, the company’s net earnings had increased by 474% to Rs 47.13 crore. a notable rise over the Rs 8.21 crore earned during the same quarter last year.
A total of 1439 shares of the company were traded for a total transaction value of Rs 9.77 lakh. The company’s BSE market value increased to Rs 5715 crore. Technical indicators show that the stock is neither overbought or oversold, with a relative strength index (RSI) of 33. Its annual volatility is about 0.9.
Zen Technologies’ stock is currently trading above the 100, 150, and 200 day moving averages but below the 5 day, 10 day, 20 day, 30 day, and 50 day moving averages. The stock has increased 261% since the start of the year and 230% in only one year. August 17, 2023, saw the share reach a 52-week high of Rs 912.55, and December 23, 2022, saw it reach a 52-week low of Rs 175.50.