This is Zen Technologies’ first significant order in the anti-drone space, and the company remains confident of securing additional orders in the future.
Zen Technologies share price touched a 52-week high of Rs 153.75 and was locked at 10 percent upper circuit after the company secured an order worth Rs 155 crore from the Indian Air Force (IAF) for the supply of Counter Unmanned Aircraft Systems (CUAS).
The order will be carried out over 12 months.
“This is a significant step toward making India a drone and counter-drone technology export hub. These orders placed on Indian companies can have a multiplier effect on the Indian equipment manufacturers eco-system because products like anti-drone systems have a high export potential to friendly foreign countries. Anti-drone systems and training solutions are in high demand in many countries,” said Ashok Atluri, Chairman, Managing Director & CFO, Zen Technologies.
There were pending buy orders of 346,190 shares, with no sellers available.
At 09:45 hrs, Zen Technologies was quoting at Rs 153.75, up Rs 13.95, or 9.98 percent on the BSE.