Zen Technologies on Tuesday, November 25, announced that it has received an order worth Rs 108 crore (excluding GST) from the Ministry of Defence, Government of India, for the supply of simulators.
According to the company’s exchange filing, the order will be executed within a year and falls under domestic procurement. The company has also stated that its promoter group has no interest in the order and that no related-party transactions are involved.
The disclosure has been made in compliance with Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.
Share Price
Following the announcement, Zen Technologies share price rose by nearly 1% in the intraday session. Over the past five trading sessions, the company’s stock has delivered flat returns.
About the company
Zen Technologies is a small arms manufacturing company that designs and develops defence and security training solutions, including simulators and anti-drone systems, for military and police forces. The company is headquartered in Hyderabad, India, with offices in India, the UAE and the USA.