ZEN Technologies shares jump over 9% on Defence Ministry order win

Shares of ZEN Technologies Ltd surged 9.42 per cent in Friday's trade to hit a high of Rs 1,344.30. The stock was last seen trading 8.44 per cent higher at Rs 1,332.20. At this level, it remains down 27.20 per cent over the past six months.

Today's upmove came after the company announced that it has secured orders worth around Rs 404 crore from the Ministry of Defence.

In a regulatory filing under Regulation 30 of the Sebi (Listing Obligations and Disclosure Requirements) Regulations, 2015, ZEN Technologies said it received orders aggregating to Rs 404 crore, including GST, from the Ministry of Defence, Government of India.

According to the company, the orders include Rs 332 crore for the supply of Anti-Drone Systems/Counter Unmanned Aerial Systems (C-UAS) and Rs 72 crore for Training Simulators and Equipment.

Technically, the stock is trading above 5-day, 10-, 20-, 30-day and 50-day simple moving averages (SMAs) but lower than the 100-day, 150-day and 200-day SMAs. The 14-day Relative Strength Index (RSI) stands at 50.66. A level below 30 is defined as oversold, while a value above 70 is considered overbought.

BSE data shows that ZEN Tech is trading at a standalone and consolidated price-to-earnings (P/E) ratio of 58.36 and 44.48, respectively, with a price-to-book (P/B) value of 7.72. The company reported standalone and consolidated earnings per share (EPS) of 22.91 and 30.06, while its return on equity (RoE) stood at 13.22.

According to Trendlyne, the stock has a one-year beta of 1.34, indicating high volatility.