This Mukul Agrawal Backed-Small Cap Stock Surges 4% After Defense Contract Win

Shares of Zen Technologies jumped close to 4% on Thursday to hit an intraday high of ₹842.

What Happened: The company on Thursday announced an order win from the Ministry of Defence, Government of India. The military training and anti-drone solutions provider informed that the order was worth around ₹72.39 crore.

The company did not release much information about the deal. “This is one more step towards implementing the Framework on Simulators that the Government released in September 2021,” Ashok Atluri – Chairman and Managing Director said in a statement.

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Earlier this month, the company had announced bagging another order from the Ministry of Defence. The ₹65-crore order was for the supply of simulators to the ministry.

Ace investor Mukul Agrawal had picked up a stake in the company during the June quarter. Currently, he owns a 1.34% stake in the company that is worth around ₹94 crore.

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Price Action: Zen Tech’s share price was up 1.81% to trade at ₹827.50 in the early hours of trading on Thursday.

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Posted In: NewsContractsMoversTrading IdeasMukul AgrawalZen Technologies