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Zen Technologies Order: Defense sector company Zain Technologies Limited has once again received an order from the Ministry of Defence. After this news, the shares of the company saw a huge jump on Tuesday. On the second trading day of the week, the stock rose nearly 3 percent to Rs 840. Let us tell you that the share price reached 912.55 rupees on August 17. This is the stock’s highest level in 52 weeks.
What are the order details?
Ministry of Defense has awarded Zain Technologies Limited Rs. 123.3 crore has been ordered. This is the third order the company has received in a month. During the June-September quarter, the company received Rs. 733 crore orders received, compared to the June quarter ended Rs. 542 crore more than the order book. Excluding tax, the company’s current order book stands at Rs. 1,275 crores. Training simulators account for half of the total orders in this order book, while the rest comes from counter drone systems and services.
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Let us tell you that on August 31, the company received an order of Rs 72.29 crore from the Ministry of Defense. And on August 12, the company received another order worth Rs 65 crore. In June, Zen Technologies MD Ashok Atluri said the company expects exports to account for around 20 per cent of its order book in FY2024.
This stock could go up to ₹2600, price rockets, company is reducing debt, experts say – BUY
How fast in 2023
Shares of Zen Technology are up nearly 350 percent so far in 2023. The stock rose nearly 2.5 times in 2021 and 60 percent in 2020. Shares fell 15 percent in 2022.