Multibagger stock: Zen Technologies shares hit fresh 52-week high, soar 258% in a year
Zen Technologies share price: On technical setup, the counter's 14-day relative strength index (RSI) came at 86.20. A level below 30 is defined as oversold while a value above 70 is considered overbought. The company's stock has a price-to-earnings (P/E) ratio of 128.87 against a price-to-book (P/B) value of 15.19.
- Jul 13, 2023,
- Updated Jul 13, 2023 11:27 AM IST
Shares of Zen Technologies Ltd continued their upward journey and touched fresh one-year high levels in Thursday's trade on the back of order wins. The counter today jumped 13.33 per cent to its fresh 52-week high of Rs 654. It was last seen trading 7.52 per cent higher at Rs 620.50. At this price, the multibagger stock has rallied 257.84 per cent in the past one year and 231.11 per cent on a year-to-date (YTD) basis.
The company recently announced that it has secured a significant order win in the export markets, valued at around Rs 340 crore. Zen Tech offers military training and anti-drone solutions. Zen also hinted that it "foresees more orders in near future."
Prior to this, the company received a Rs 160 crore order from the government on July 7. The contract was under the Centre's Indigenous Design and Development (IDDM) initiative, requiring Indian IP and over 60 per cent indigenous content, the company said. With three decades of IP-based Design & Development (D&D) experience, the company stands poised to benefit from such initiatives, Zen Tech mentioned. In June, it bagged an order worth Rs 202 crore from the Ministry of Defence.
Further, defence sector stocks got a major boost after it was reported that the ministry has given its initial approval to buy 26 Rafale fighter aircraft and three Scorpene submarines from France.
Prime Minister Narendra Modi departed for France today to deepen ties with India's oldest strategic partner in the West. PM Modi has been invited as the guest of honour at the Bastille Day celebrations by French President Emmanuel Macron.
The visit would "provide an opportunity to chart the course of the partnership for the future across diverse sectors such as strategic, cultural, scientific, academic and economic cooperation," the Centre said.
On technical setup, the counter's 14-day relative strength index (RSI) came at 86.20. A level below 30 is defined as oversold while a value above 70 is considered overbought. The company's stock has a price-to-earnings (P/E) ratio of 128.87 against a price-to-book (P/B) value of 15.19. The scrip has a one-year beta of 0.79, indicating low volatility.
Around 7.85 lakh shares changed hands today on BSE, which was way more than the two-week average volume of 2.09 lakh shares. Turnover on the counter stood at Rs 49.50 crore, commanding a market capitalisation (m-cap) of Rs 4,930.02 crore. There were 1,37,824 sell orders today against buy orders of 28,642 shares.
Zen Tech, as per its website, specialises in manufacturing land-based military training simulators, driving simulators, live range equipment and anti-drone systems. It has a dedicated Research and Development (R&D) facility in Hyderabad, recognised by the Ministry of Science and Technology. The company has filed for over 110 patents and successfully shipped more than 1,000 training systems worldwide.
Meanwhile, Indian equity benchmarks rose sharply in early deals today to hit their all-time high levels, led by gains in banks, financials, metals, technology, automobile and energy stocks.
Also read: Stocks to watch on July 13, 2023: Wipro, TCS, Patanjali Foods, HCL Tech, Titan, others
Shares of Zen Technologies Ltd continued their upward journey and touched fresh one-year high levels in Thursday's trade on the back of order wins. The counter today jumped 13.33 per cent to its fresh 52-week high of Rs 654. It was last seen trading 7.52 per cent higher at Rs 620.50. At this price, the multibagger stock has rallied 257.84 per cent in the past one year and 231.11 per cent on a year-to-date (YTD) basis.
The company recently announced that it has secured a significant order win in the export markets, valued at around Rs 340 crore. Zen Tech offers military training and anti-drone solutions. Zen also hinted that it "foresees more orders in near future."
Prior to this, the company received a Rs 160 crore order from the government on July 7. The contract was under the Centre's Indigenous Design and Development (IDDM) initiative, requiring Indian IP and over 60 per cent indigenous content, the company said. With three decades of IP-based Design & Development (D&D) experience, the company stands poised to benefit from such initiatives, Zen Tech mentioned. In June, it bagged an order worth Rs 202 crore from the Ministry of Defence.
Further, defence sector stocks got a major boost after it was reported that the ministry has given its initial approval to buy 26 Rafale fighter aircraft and three Scorpene submarines from France.
Prime Minister Narendra Modi departed for France today to deepen ties with India's oldest strategic partner in the West. PM Modi has been invited as the guest of honour at the Bastille Day celebrations by French President Emmanuel Macron.
The visit would "provide an opportunity to chart the course of the partnership for the future across diverse sectors such as strategic, cultural, scientific, academic and economic cooperation," the Centre said.
On technical setup, the counter's 14-day relative strength index (RSI) came at 86.20. A level below 30 is defined as oversold while a value above 70 is considered overbought. The company's stock has a price-to-earnings (P/E) ratio of 128.87 against a price-to-book (P/B) value of 15.19. The scrip has a one-year beta of 0.79, indicating low volatility.
Around 7.85 lakh shares changed hands today on BSE, which was way more than the two-week average volume of 2.09 lakh shares. Turnover on the counter stood at Rs 49.50 crore, commanding a market capitalisation (m-cap) of Rs 4,930.02 crore. There were 1,37,824 sell orders today against buy orders of 28,642 shares.
Zen Tech, as per its website, specialises in manufacturing land-based military training simulators, driving simulators, live range equipment and anti-drone systems. It has a dedicated Research and Development (R&D) facility in Hyderabad, recognised by the Ministry of Science and Technology. The company has filed for over 110 patents and successfully shipped more than 1,000 training systems worldwide.
Meanwhile, Indian equity benchmarks rose sharply in early deals today to hit their all-time high levels, led by gains in banks, financials, metals, technology, automobile and energy stocks.
Also read: Stocks to watch on July 13, 2023: Wipro, TCS, Patanjali Foods, HCL Tech, Titan, others