Zen Technologies share price: This small-cap defence stock hits new 52-week high; scrip up 32% in five sessions

Zen Technologies, a small-cap defence company, shares on Friday touched a new 52-week high after surging for almost 12 per cent to Rs 107.75 on the BSE intraday trade on Friday amid heavy volumes. The stock in the last five sessions jumped nearly 32 per cent from Rs 81.7 per share on the BSE.

At around 10:58 am, the scrip was trading almost 7 per cent to Rs 102.75 per share on the BSE, as compared to 0.01 per cent decline in the S&P BSE Sensex. 

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The trading volumes on the counter have jumped over seven-fold with a combined 0.91 per cent of the total equity having changed hands on the NSE and BSE so far.

Anti-drone systems, drones, and training solutions will continue to be the core business of Zen Technologies and the company has all the simulators required for the legacy equipment used by the Indian Army, the company said in a statement.

Zen Technologies in its financial year 2020-21 (FY21) annual report said, Defence exports in the country witnessed strong growth in the last two years. India aims to export military equipment worth US$ 5 billion (Rs 35,000 crore) in the next five years. 

The company expects its exports to accelerate hereon, as the efforts made in the past few years will finally render its effect. Apart from this, Zen Technologies is driven to make further progress by focusing on large export opportunities within the Middle East, CIS, and Africa. 

The company is dedicating a core team to pursue business opportunities in the USA and other friendly countries and looks to enhance the AMC revenue stream, non-cyclical, the company said.

Zen Technologies has a training platform to provide a a realistic battle experience by integrating its entire range of product offerings.