Zen Technologies shares recover 3% from day’s low on order win from defence ministry

Shares of Zen Technologies Ltd recovered over 3% from the day’s low after the firm said received an order worth of Rs 93 crore from the defence ministry. 

Zen Technologies stock opened higher at Rs 826.10 against the previous close of Rs 816.55 on BSE. Later, it fell to a low Rs 800. But the news of the defence order pushed the stock 3.26% higher to Rs 826.10 compared to the intraday low on BSE.

Market cap of the firm fell to Rs 6,805 crore on BSE. Total 0.45 lakh shares of the firm changed hands amounting to turnover of Rs 3.68 crore on BSE. 

The stock has gained 215% in a year and risen 2.75% since the beginning of this year. The share hit a 52-week high of Rs 912.55 on August 17, 2023 and a 52-week low of Rs 230.45 on February 24, 2023.

The stock is neither oversold nor overbought on technical charts with its relative strength index (RSI) at 53.2.  It had a very low volatility of 0.1 in a year. 

Zen Technologies shares are trading lower than 5 day, 10 day but higher than the 20 day, 30 day, 50 day, 100 day, 150 day and 200 day moving averages.

In the third quarter of the current fiscal, Zen Technologies reported a nearly five times jump in net profit to Rs 31.66 crore against Rs 7.58 crore in the December quarter of the previous fiscal.

Revenue climbed three times to Rs 98 crore in Q3 compared to the Rs 32.93 crore reported during the corresponding period last year. On a quarter on quarter basis, the company's revenue grew 53%.

Earnings before interest, tax, depreciation and amortisation (EBITDA) climbed to Rs 44.22 crore in Q3 from Rs 8.35 crore last year. Margins expanded to 45% from 25.3% last year. 

The company's board also cleared raising funds worth up to Rs 1,000 crore or an equivalent amount through a QIP or any other permissible mode or a combination thereof.

Zen Technologies designs, develops and manufactures state-of-the-art combat training solutions for the training of defence and security forces worldwide. The firm's headquarters are located in Hyderabad with offices in India and USA. Zen Technologies manufactures over 40 different Live Fire, Live Instrumented, Virtual and Constructive training systems to support individual and collective training capabilities.

 

 

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