Shares of Zen Technologies dropped over 7% in early trading on December 3, following a block deal worth ₹386.1 crore. Approximately 21.4 lakh shares, equating to a 2.55% equity stake in the company, were traded at a price of ₹1,800 per share. This price represents a 5.9% discount to the previous session’s closing price.
By 10:45 AM, the stock recovered slightly, trading at ₹1,826.1 per share, still down 4.5% on the NSE.
Zen Technologies is a leading player in India’s growing defence sector, focusing strongly on in-house intellectual property and advanced technologies like anti-drone systems. The company holds over 75 patents and is well-positioned to benefit from India’s defence production goals of ₹3 lakh crore and exports worth ₹50,000 crore by FY29.
Brokerage firm Nuvama Institutional Equities has expressed optimism about Zen Technologies, setting a target price of ₹2,200. The firm expects robust order inflows, a strong earnings growth trajectory, and a return on equity above 22% in the coming years.
Zen Technologies shares have surged 136% over the past year, significantly outperforming the Nifty 50’s gain of around 17%.
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Source: Moneycontrol
News Desk
