Zen Technologies Limited secures export order of Rs. 120 crores

Zen Technologies Limited has been awarded a ~ ₹120-crore export contract. The simulators are the main focus of the order. The order will be carried out in roughly a year. In the face of stiff worldwide competition from multinational corporations, Zen Technologies emerged as the lead runner. Owing to a confidentiality agreement, the customer's identity cannot be published due to the nature of the deal.

Commenting on the order win, Mr. Ashok Atluri, Chairman, Managing Director & CFO commented: "This order was on the back of a very rigorous purchase process followed by the customer. Government of India also provided active support, among other things by facilitating quicker visits (during COVID) by the customer."

He added that "There is an increasing demand from countries for anti-drone systems and training solutions. After the slow-down caused by Covid, the interest from various countries is slowly gathering pace. This has definitely translated into a good pipeline of opportunities that Zen can address in the near term."

Shares of ZEN TECHNOLOGIES LTD. was last trading in BSE at Rs.94.8 as compared to the previous close of Rs. 95.5. The total number of shares traded during the day was 99623 in over 2546 trades.

The stock hit an intraday high of Rs. 98.7 and intraday low of 93.85. The net turnover during the day was Rs. 9659139.

Source : Equity Bulls

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