Multibagger stock: Zen Technologies shares rally as Mukul Agrawal emerges as shareholder

Shares of Zen Technologies climbed nearly 3 per cent in Wednesday's trade after seasoned investor Mukul Mahavir Agrawal emerged as a shareholder in the company in the June quarter.

As per the latest shareholding pattern, Agrawal held 11,26,765 shares or 1.34 per cent stake in the company as on June 30. His name was absent in the list of shareholders with more than 1 per cent stake, as on March 31. Agrawal entered the stock even as it is up 225 per cent year-to-date. It is difficult to ascertain, however, at what price he entered the multibagger counter.

Following the development, the stock rose 2.88 per cent to Rs 620 on BSE. The stock is up 48 per cent in the last month after the military training and anti-drone solutions maker announced huge order wins.

It recently received an order from the government valued at Rs 160 crore. The contract comes under the government's Indigenous Design and Development (IDDM) initiative, which requires Indian IP and over 60 per cent indigenous content, the company said in a BSE filing.

Before that, it announced an order win in the export markets, valued at around Rs 340 crore.

Agarwal, meanwhile, was also seen buying shares of WPIL for the first time in June quarter. He held 1,13,000 shares or 1.16 per cent stake in the company at the end of June quarter.

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