Zen Technologies Ltd updates on Defence Minister announcement

Hon'ble Defence Minister Rajnath Singh yesterday announced a list of 101 items that the Defence Ministry will stop importing. Indian Armed Forces - Army, Navy and Air Force - will only procure these items from domestic defence industry. India has been one of the world's largest importer of defence equipment. This announcement is expected to give a tremendous boost to the domestic defence industry.

The list of 101 items to be procured domestically includes 9 simulators. All the said simulators are designed, developed and manufactured by Zen Technologies Limited. We expect the announcement to provide the much needed push for the domestic defence industry and, particularly, players like Zen that have invested heavily into R&D and produced a number of indigenously designed, developed and manufactured training systems.

Shares of ZEN TECHNOLOGIES LTD. was last trading in BSE at Rs.67.3 as compared to the previous close of Rs. 69.85. The total number of shares traded during the day was 137970 in over 1529 trades.

The stock hit an intraday high of Rs. 70.8 and intraday low of 66.1. The net turnover during the day was Rs. 9436870.

Source : Equity Bulls

Keywords