Zen Technologies Ltd Share Price – NSE  /  BSE

Aerospace & Defence, Small Cap

Suven Pharmaceuticals Ltd, Data Patterns (India) Ltd, Dwarikesh Sugar Industries Ltd and Finolex Cables Ltd are among the other gainers in the BSE's 'A' group today, 02 March 2024.

Zen Technologies Ltd surged 5.00% to Rs 953.4 at 11:47 IST. The stock was the biggest gainer in the BSE's 'A' group. On the BSE, 88 shares were traded on the counter so far as against the average daily volumes of 40958 shares in the past one month.

Suven Pharmaceuticals Ltd soared 5.00% to Rs 724.55. The stock was the second biggest gainer in 'A' group. On the BSE, 5731 shares were traded on the counter so far as against the average daily volumes of 94027 shares in the past one month.

Data Patterns (India) Ltd spiked 5.00% to Rs 2789.3. The stock was the third biggest gainer in 'A' group. On the BSE, 427 shares were traded on the counter so far as against the average daily volumes of 3.26 lakh shares in the past one month.

Dwarikesh Sugar Industries Ltd spurt 5.00% to Rs 81.94. The stock was the fourth biggest gainer in 'A' group. On the BSE, 7339 shares were traded on the counter so far as against the average daily volumes of 1.7 lakh shares in the past one month.

Finolex Cables Ltd advanced 4.98% to Rs 960.95. The stock was the fifth biggest gainer in 'A' group. On the BSE, 2258 shares were traded on the counter so far as against the average daily volumes of 12197 shares in the past one month.

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AiTuring Technologies offers a comprehensive suite of solutions for electronic optics and robotics and is committed to focused research and development, providing support, and manufacturing advanced long-range electro-optics.

The company will acquire 51% stake in AiTuring Technologies for offering complete counter-drone solution including electrooptics, expanding product portfolio, Achieving cost savings and operational efficiencies through backward integration, Gaining valuable technology, IP, and talent.

The said acquisition will be completed within 6 months

Further, the board has approved the constitution of the Investment and Finance committee pursuant to invest the funds of the company and grant loans or give guarantee or provide security in respect of loans.

Zen Technologies is principally engaged in design, development and manufacture of Training Simulators,Anti Drone Systems and operations for Para-military Forces, Armed Forces, Security Forces,Police and Government Departments.The Company caters to both domestic and international market.

The company reported consolidated net profit of Rs 30.58 crore in Q3 FY24, steeply higher than Rs 9.44 crore posted in Q3 FY23. Revenue from operations increased 89.59% YoY to Rs 99.52 crore in the quarter ended 31 December 2023.

Zen Technologies fell 0.47% to end at Rs 801.65 on the BSE as on 23 February 2024.

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The Board of Zen Technologies at its meeting held on 24 February 2024 has approved the acquisition of 51% stake in AiTuring Technologies for a consideration of Rs 3.87 crore.

AiTuring Technologies offers a comprehensive suite of solutions for electronic optics and robotics and is committed to focused research and development, providing support, and manufacturing advanced long-range electro-optics.

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Ashok Atluri, chief managing director, Zen Technologies said, “The focus on training has historically been on technical training comprising of virtual simulators and live range equipment. Now the inclusion of tactical, force-on-force training simulators in their training augurs well for the armed forces and makes them combat ready at the highest level. This order further confirms a well-balanced approach by the armed forces to both technical and tactical training.”

Zen Technologies is engaged in design, development and manufacture of Training Simulators for Police and Para-military Forces, Armed Forces, Security Forces, Government Departments like Transport, Mining, Infrastructure and Civilian market.

The company reported a net profit of Rs 31.67 crore in Q3 FY24, steeply higher than Rs 7.58 crore posted in Q3 FY23. Revenue from operations surged to Rs 98.08 crore in the quarter ended 31 December 2023 as against Rs 32.93 crore recorded in Q3 FY23.

The scrip declined 1.18% to Rs 806.95 on the BSE.

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