Midcap Defence Stock Surges Over 3% On Order From Ministry of Defence

Zen Technologies Ltd., a leading provider of defence company, on Tuesday, Sept 26, 2023, announced a landmark order win, which the company received on Sept 22, 2023, from the Ministry of Defence (MoD), Govt. of India. Zen was the resultant single vendor for this Anti-Drone systems order.

The domestic order is for the provision of Anti-Drone systems, and its approx. worth Rs 227.65 crores inclusive of GST). Comprehensive Maintenance Contract (CMC) post-warranty is a component of the agreement and is included at a cost of Rs 43.22 crores, inclusive of GST.

"This significant development reinforces Zen Technologies' market position as a go-to company for Indian IP owned Anti-drone systems. We are committed to execute our cumulative order book for equipment over the next 18 months. We anticipate receiving substantial orders in the coming months," the company stated in the filing.

Product Category	Total
Training Simulators (including service and AMC)	819.2
Counter Drone System (including service and AMC)	648.11
Total	1467.3

Note - Rupee In Crores, Excluding GST

The share price of Zen Technologies surges in early trade session following the announcement of the order. The stock is currently trading 3.83% higher at Rs 784 apiece on the BSE.

Stock gained 3.57% in 1 week, and declined 3.67% in 1 month. It gave 159.91% multibagger return in 6 months. It gave 308.92% multibagger return in 1 year. It has given 282.76% robust return in 2 years, and 922.03% string return in 3 years. It has given 1008.77% robust return in 5 years.

The stock touched 52-week high at Rs 912.55 apiece and 52-week low at Rs 175.50 apiece on the BSE. Its market cap is Rs 6,588.23 Crore.