Zen Technologies Share Price Surges by 5% Yesterday 📈
In a bullish trend, Zen Technologies’ shares touched a high of ₹1,607.85 on the BSE after hitting the upper circuit. This marks a 52-week high for the company. The strong quarterly results are believed to be the reason behind the surge in the company’s share prices.
Zen Technologies reported a total revenue of ₹253.96 crores during April-June 2024, showing a year-on-year increase of 92%. The company’s net profit for the first quarter has also increased to ₹74.18 crores, marking a 57% annual growth. On Wednesday (31 July 2024), the shares were trading at ₹1,666 with a 1.42% decline.
The company informed the stock exchanges, “With the government’s increasing focus, we have emerged as a key supplier of goods for the Indian Army. The government is also focusing on exports. Defence Minister Rajnath Singh has set a target of ₹50,000 crores in exports by 2029.”
In July, Zen Technologies’ share price saw a 37% increase. Investors received a 22% return from these shares in June. The company’s share price has surged by 331% in 2023, 140% in 2021, and 60% in 2020. The BSE-listed share of Zen Technologies hit a 52-week low of ₹578.10. The company’s market cap stands at ₹13,513.06 crores.
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