Zen Technologies stock hits 5% upper circuit as firm wins order from Indian Army
Zen Technologies stock surged 5% to Rs 205.35 against the previous close of Rs 195.60 on BSE. The shares have gained after five days of consecutive fall.
- Mar 25, 2022,
- Updated Mar 25, 2022 10:11 AM IST
Shares of Zen Technologies hit upper circuit of 5% in early trade today after the firm said it received a project sanction order (PSO) from the Indian Army for design and development of prototype of Integrated Air Defence Combat Simulator (IADCS).
Zen Technologies stock surged 5% to Rs 205.35 against the previous close of Rs 195.60 on BSE. The shares have gained after five days of consecutive fall.
The stock trades higher than 5 day, 20 day and 200 day moving averages but lower than 50 day and 100 day moving averages. The smallcap stock rose 162% in one year but lost 4.93% since the beginning of this year. A total of 8381 shares of the firm changed hands, amounting to a turnover of Rs 17.21 lakh.
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Market cap of the firm rose to Rs 1632.74 crore on the BSE. The stock hit a 52-week low of Rs 65 on May 18, 2021 and a 52-week high of Rs 257.70 on December 15, 2021.
The stock trades higher than 5 day moving averages but lower than 20 day, 50 day, 100 day and 200 day moving averages.
"The prototype is to be made ready for User Trial Readiness Review (UTRR) within a period of 30 weeks. On completion of UTRR, an order towards procurement of 16 no's of IADCS will be issued by the Indian Army for submission of their commercial offer prior to commencement of Field Evaluation Trials. The project will be completed in two phases viz., Prototype Development Phase and Procurement Phase. The equipment is envisaged to facilitate imparting training to gunners at unit level," the firm said.
Zen Technologies is primarily engaged in the design, development and manufacture of training simulators. The company offers its products to police and paramilitary forces, armed forces, security forces, government departments, such as transport, mining, infrastructure and civilian market.
Shares of Zen Technologies hit upper circuit of 5% in early trade today after the firm said it received a project sanction order (PSO) from the Indian Army for design and development of prototype of Integrated Air Defence Combat Simulator (IADCS).
Zen Technologies stock surged 5% to Rs 205.35 against the previous close of Rs 195.60 on BSE. The shares have gained after five days of consecutive fall.
The stock trades higher than 5 day, 20 day and 200 day moving averages but lower than 50 day and 100 day moving averages. The smallcap stock rose 162% in one year but lost 4.93% since the beginning of this year. A total of 8381 shares of the firm changed hands, amounting to a turnover of Rs 17.21 lakh.
Share Market LIVE: Sensex, Nifty trade flat amid volatility; RIL, SBI top gainers
Market cap of the firm rose to Rs 1632.74 crore on the BSE. The stock hit a 52-week low of Rs 65 on May 18, 2021 and a 52-week high of Rs 257.70 on December 15, 2021.
The stock trades higher than 5 day moving averages but lower than 20 day, 50 day, 100 day and 200 day moving averages.
"The prototype is to be made ready for User Trial Readiness Review (UTRR) within a period of 30 weeks. On completion of UTRR, an order towards procurement of 16 no's of IADCS will be issued by the Indian Army for submission of their commercial offer prior to commencement of Field Evaluation Trials. The project will be completed in two phases viz., Prototype Development Phase and Procurement Phase. The equipment is envisaged to facilitate imparting training to gunners at unit level," the firm said.
Zen Technologies is primarily engaged in the design, development and manufacture of training simulators. The company offers its products to police and paramilitary forces, armed forces, security forces, government departments, such as transport, mining, infrastructure and civilian market.