Zen Technologies bags order from Indian army; shares hit 5% upper circuit

Shares of Zen Technologies jumped 5% in Friday's intraday trade to hit upper circuit on getting order from Indian Army. Zen Technologies Limited has received a Project Sanction Order (PSO) from the Indian Army for design and development of prototype of Integrated Air Defence Combat Simulator (IADCS).  

Zen Technologies, the company engaged in indigenous design, development and manufacture of sensors and simulators technology-based defence training systems, will prepare prototype for User Trial Readiness Review (UTRR) within a period of 30 weeks.  

"On completion of UTRR, an order towards procurement of 16 no’s of IADCS will be issued by the Indian Army for submission of their commercial offer prior to commencement of Field Evaluation Trials," said a statement from the company.  

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The project will be completed in two phases viz., Prototype Development Phase and Procurement Phase. The equipment is envisaged to facilitate imparting training to gunners at unit level.  

At 11.50, shares of Zen Technologies Limited were locked in 5% upper circuit of Rs 205.35 a share on the BSE.  

Technical data of the stock shows that Zen Technologies Limited shares gained over 160% in one year as on March 25.  

Shares of defence training solutions provider traded on 52-week high value of Rs 257.70 per share on the BSE on December 15, 2022 and touched 52-week low value of Rs 65 on May 18 last year.  

The company is engaged in indigenous design, development and manufacture of sensors and simulators technology-based defence training systems and has been providing Defence Training Solutions services to Ministry of Defence (Armed Forces), Security Forces Police and Para-military forces.  

The company manufactures land based military training simulators, driving simulators, Live range equipment and Anti drone Systems.