Shares of Zen Applied sciences have been locked on the higher circuit for the sixth straight buying and selling session on Wednesday, rising over 100 per cent in the course of the interval. The rally was triggered within the inventory after the corporate secured a brand new order from the Indian Air Pressure (IAF).
Within the final 5 buying and selling periods, the inventory had hit the ten per cent higher circuit restrict; nevertheless, the exchanges have revised the circuit filter to five per cent with impact from right now. The inventory of the defence is now buying and selling at its life-time excessive.
Until 10:46 am, a mixed 1.02 million fairness shares had modified fingers with pending purchase orders for round 1.15 million shares on the BSE and NSE. Compared, the S&P BSE Sensex was up 0.06 per cent at 58,315.
On September 3, Zen Applied sciences introduced that it has secured an order value Rs 155 crore from the Indian Air Pressure (IAF) for provide of Counter Unmanned Plane Methods (CUAS).
The order will probably be carried out in a 12-month timeframe. That is Zen Applied sciences’ first vital order within the anti-drone area, and the corporate stated it stays assured of securing further orders sooner or later.
Earlier this month, the corporate had acknowledged that it had secured orders value Rs 211 crore throughout April-June (Q1FY22) quarter. “Order e-book as on September 01, 2021, stands at Rs 402.6 crore as in opposition to an order e-book of Rs 191.6 crore on thirtieth June 2021,” Zen Applied sciences had stated.
Zen Applied sciences is engaged in manufacturing land-based army coaching simulators, driving simulators, stay vary tools and anti-drone methods. The corporate is engaged in indigenous design, growth and manufacture of sensors and simulators expertise primarily based defence coaching methods and has relentlessly been offering Defence Coaching Options and seamless providers to Ministry of Defence (Armed Forces), Safety Forces Police, Para-military forces.
Anti-drone methods, drones, and coaching options will proceed to be the core enterprise of Zen Applied sciences and the corporate has all of the simulators required for the legacy tools utilized by the Indian Military, the discharge added.