Zen Technologies shares rally after order book update

By – Devanshi Srivastava

Zen Technologies NSE 19.99 percent shares soared more than 17 percent on Tuesday, reaching a new 52-week high, after the business gave an update on its order book, according to the company.

According to a regulatory statement, the company’s order book was at Rs 402.6 crore on September 1, 2021, compared to Rs 191.6 crore on June 30, 2021, when the report was made. During the period July-August 2021, the Hyderabad-based military equipment manufacturer received orders totaling Rs 211 crore.

Zen Technologies’ shares rose by 17 percent to Rs 113.70 before trading at Rs 110.20 at 11 a.m., according to the company. As of the same time, the BSE Sensex was trading 20.55 points, or 0.04 percent, higher at 57,572.94 points. On the 30th of August, 2021, the scrip settled at Rs 97.10.

The stock of the business has been gaining traction since the government of the United States announced a new set of permissive drone regulations. The number of approvals has been decreased, and the fees for remote pilot licenses, as well as the penalty, have been cut as a result of the new set of regulations.

Zen Technologies is the only publicly-traded company involved in the manufacture of drones in India, and it is anticipated to be the most significant benefactor of the new regulations.