Multibagger Stock: Shares of Zen Tech have hit the upper circuit after the news break by the defense company to receive project approval orders from the Indian Army. Zen Tech share price opened upward today and reached its 5% upper circuit level 205.40 each level. According to stock market experts, this rise in the multibagger stock can be attributed to two major reasons – project approval orders from the Indian Army and the expected increase in defense expenditure across the world in the aftermath of the Russia-Ukraine crisis. He said the stock of the drone maker has given a breakout Now at the 200 level and now the Multibagger stock may see some more upside in the upcoming sessions.
highlighting the reasons for the growth zen tech share price, Ravi Singhal, Vice Chairman, GCL Securities, said, “Gen Tech has recently received the project approval order for the design and development of a prototype of the Integrated Air Defense Combat Simulator (IADCS). This is a close turn for this multibagger share price hike. is acting as the spirit of the period. Also, after the Russo-Ukraine war, defense expenditure is expected to increase across the world. Has already announced to become self-reliant in defense procurement.
Ravi Singhal of GCL Securities said that the stock has given fresh breakout at 200 level and it may give further upward movement in the near future.
in his exchange communication Yesterday, Zen Tech Management informed the Indian Exchange about the new Indian Army order, “Zen Technologies Ltd. has received a PSO from the Indian Army for the design and development of a prototype of the Integrated Air Defense Combat Simulator (IADCS). The prototype To be made ready for User Test Readiness Review (UTRR) within a period of 30 weeks.”
Upon completion of the UTRR, an order will be issued by the Indian Army for procurement of 16 No. IADCS to submit its commercial proposal before the commencement of field evaluation trials. The project will be completed in two phases i.e. Prototype Development Phase and Procurement Phase. The device is envisaged to facilitate imparting training to gunners at the unit level.
Disclaimer: The views and recommendations given above are those of individual analysts or broking companies and not of Mint.
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