Shares of this multibagger stock under ace investor Mr. Mukul Agrawal’s portfolio hit the 5 percent upper circuit after securing an order worth Rs 100 crores from the Ministry of Defence.
With a market capitalization of Rs 5,957.90 crores, the stocks of Zen Technologies Limited opened their trading hour at Rs 675.15 and currently are locked in the 5 percent upper circuit recorded at Rs 708.90.
The company, in a recent filing with the Bombay Stock Exchange (BSE) dated 26th October 2023, intimated that it has bagged an order worth around Rs 100 crores from the Ministry of Defence for its state-of-the-art Force-On-Force Tank training system.
The abovementioned system will empower tank units and sub-units to engage in training on real terrains under authentic conditions using the equipment without any necessity for live ammunition.
During the recent financial quarters, the company’s operating revenues as well as net profits increased with the former moving up from Rs 95.88 crores during Q4FY22-23 to Rs 132.45 crores during Q1FY23-24, and, the net profits, keeping the timeframe the same, increased from Rs 23.37 crores to Rs 48.44 crores.
Mr. Mukul Agrawal, one of the well-known ace investors based in India, has invested in the stocks of Zen Technologies Limited. He took an entry into the stock way back in December 2015, and, currently, as per the September 2023 holding data, he holds around 11.27 lakh equity shares of the company equating to a 1.34 percent stake.
In the past six months, the company’s stock has delivered multibagger returns of approximately 140 percent, i.e., if someone had invested Rs 1 lakh in the stock six months back, it would have converted to Rs 2.40 lakhs.
As per the shareholding pattern data available for the September 2023 quarter, the company’s Promoters hold a 57.45 percent stake, and the Foreign Institutional Investors (FIIs), continuously increasing their stake, currently hold a 4.84 percent stake in the company.
Zen Technologies Limited is involved in designing, developing, and manufacturing training simulators. Catering to domestic as well as international markets, the company offers a wide range of products, some of which include Hand Grenade Simulator, Driving Training Simulator, Weapon Simulator, etc.
Written by Amit Madnani
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