New Delhi: Defence firm Zen Technologies Limited has received order worth of Rs. 64.97 Cr. from Ministry of Defence Govt. of India.
After company announced this in its filing to exchange, its share was locked at it upper price band of Rs 827.75.
Bourses BSE and NSE have put the securities of Zen Tech under the long-term ASM (Additional Surveillance Measure) framework. Exchanges put stocks in short-term or long-term ASM frameworks to caution investors about high volatility in share prices.
The firm is a provider of military training and anti-drone solutions. Recently it also bagged a $41.50 million (about ₹340 crore) order from abroad.
Last week, the defence firm announced its April-June quarter results for fiscal 2023-24 (Q1FY24), reporting a multi-fold jump of 532 per cent at ₹47.08 crore, compared to ₹7.4 crore in the corresponding period last year. The RPG Enterprises Group-company’s revenue from operations during the first quarter of current fiscal stood at ₹132.45 crore, registering a surge of 257 per cent, compared to ₹37.07 crore in the year-ago period.
The company's board has approved the re-appointment of Shilpa Choudari as the whole-time director of the company for a further period of three years starting from November 1, 2023, subject to the approval of shareholders at its annual general meeting (AGM).
The board also approved the re-appointment of Sirisha Chintapalli as the independent director of the company for second term of three years starting from August 8, 2023, subject to the approval of shareholders at the AGM.
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