Shares of Zen Tech started the fresh week in green on Monday going up close to 3% as the markets opened.
What Happened: The surge today comes as the company announced a bagging order worth ₹227.65 crore. The order is from the Ministry of Defence, Government of India. Further details of the order were not revealed.
The stock has been on a tremendous run this year. Since the start of the year, the stock has surged over 290%. Earlier in the month, the company had announced bagging another order from the Defence Ministry worth ₹123.3 crore.
As of June 30, 2023, the company’s order book stood at ₹542 crore. As per the military training and counter-drone solutions provider, it has received orders worth over ₹700 crore in the current quarter, taking the order book over ₹1,200 crore.
Mukul Agrawal owns a 1.34% stake in the company which is worth around ₹80 crore.
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Price Action: Zen Tech’s share price was up 2.75% to trade at ₹740 as markets opened on Monday.
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