Zen Technologies shares hit all-time high, surging 20% today

Zen Technologies received two orders yesterday worth Rs 500 crore. After the news, shares of the company saw heavy buying and a jump in share price. 

During market hours in the morning, the company announced that it had received a significant order win in the export markets. The order is valued at approximately Rs 340 crores (41.5 million USD). 

After the news, share prices saw a good jump. Yesterday, the stock closed at Rs 480.95, up by 13.20%. Today, it opened at Rs 489 and is currently trading at Rs 577.10, up by 19.99%. Today it also hit an all time high of Rs 577.10 today. The 52-week low of the stock is Rs 167.05. The company has a market capitalization of around Rs 4500 crore. Over the past six months, the company has given a multibagger return of around 200%. 

After market close, the company announced that it had received another order from the Ministry of Defence, Government of India. The order is related to the supply of an anti-drone system to the Ministry of Defence. The order is based on the Buy Indian (IDDM) category, which requires Indian IP as a prerequisite with more than 60% indigenous content. Zen was the sole vendor selected for this order. The worth of the order is Rs 160 crore (only base price) for the anti-drone system, and it should be executed within 12 months. 

One month ago, Zen also received an order from the Ministry of Defence, Government of India. This order is related to the supply of training equipment to the Ministry of Defence. The nature of the training equipment is confidential. Training equipment worth Rs 171 crore has to be supplied within 12 months, along with a warranty for 4 years. Post-warranty, a Comprehensive Maintenance Contract (CMC) of Rs 31 crore will be spread over 4 years. 

Zen Technologies designs, develops, and manufactures combat training solutions for the training of defense and security forces. It is actively involved in the indigenization of technologies that are beneficial to the Indian armed forces, state police forces, and paramilitary forces. 

Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. It is based on several secondary sources on the internet, and is subject to changes. Please consult an expert before making related decisions.