Defence stock Zen Technologies gained 2.5% in intraday trade on the BSE on Tuesday, 7 July, looking set to extend gains for the second consecutive session after the company said its subsidiary, Vector Technics, has become India’s largest fully integrated drone propulsion manufacturer.
Zen Technologies’ share price opened at ₹1,879.85 against its previous close of ₹1,852.25 and jumped 2.5% to an intraday high of ₹1,898.95.
Zen Tech, in an exchange filing after market hours on 6 July, said that its subsidiary, Vector Technics’ Shamshabad facility, has reached capacity to manufacture 3,00,000 propulsion units a year. It is now the only Indian company that designs and builds every component of the propulsion stack in-house, across both electric and internal-combustion propulsion.
“That last point is the line no competitor can cross. Most indigenous players assemble imported parts. The serious ones build electric motors and stop there. Vector winds its own motors, writes its own firmware, lays out its own power electronics, machines its own components and designs and manufactures its own carbon-fibre reinforced propellers and builds its own UAV engines and starter-generators. No one else in India does the full set,” the company claimed.
Zen Technologies share price trend
Zen Tech shares hit a 52-week high of ₹2,023.40 on 22 June after hitting a 52-week low of ₹1,224 on 14 January.
Year-to-date, the stock is up 37% compared to an 8% fall in the equity benchmark Sensex.
Over a longer timeframe of three, five, and 10 years, the stock has delivered strong multibagger returns of 332%, 1,823%, and 2,083%, respectively, as per the BSE data.
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