Shares of Zen Technologies rose over 4 per cent today after the firm said it would consider raising of funds in a meeting of board of directors to be held on October 16.
Zen Technologies stock touched an intraday high of Rs 214, rising 4.21 per cent against previous close of Rs 205.35 on the Bombay Stock Exchange (BSE).
The stock opened with a gain of 4.04 per cent at Rs 205.35.
Zen Technologies shares are trading higher than 5 day, 20 day, 50 day, 100 day and 200 day moving averages.
The stock has gained 147 per cent in one year and has risen 135.32 per cent since the beginning of this year.
The share hit 52-week high of Rs 237.35 on September 15, 2021 and 52-week low of Rs 65 on May 18, 2021.
Total 0.95 lakh shares of the firm changed hands amounting to turnover of Rs 2.01 crore. Market cap of the firm rose to Rs 1,681 crore on BSE.
The firm in a communication to BSE said, "Pursuant to Regulation 29( I)( d) of the Securities and Exchange Board of India (Listing Obligations and Disclosures Requirements) Regulations, 2015 ("Listing Regulations") as amended from time to time, notice is hereby given that the Meeting of the Board of Directors of Zen Technologies Limited is scheduled to be held on Saturday, 16 October 2021, inter-alia to consider fund raising and related matters."
The small cap stock hit upper circuit of 5 per cent to Rs 215.45 on October 1 after the government issued a notification regarding Rs 120 crore production-linked incentive scheme for drone manufacturers. With the implementation of this scheme, companies are expected to invest around Rs 5,000 crore for manufacturing drones.
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 the US. 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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