This Defense stock gives multibagger returns in 6 months. Experts see more growth

According to stock market experts, the defense company has recently done some wholesale deals, where some mutual funds have invested in the company. It has reported 7.5 per cent growth in net profit in the September 2021 quarter. It recently got its first export order at Lime Simulation Worth 35 crores.

Advising investors to add this Multibagger stock to their stock portfolio; Avinash Gorakshakar, Head of Research, Profitmart Securities, said, “In the last three months, the company has witnessed all such developments that pave the way for the stock to become a quality stock. Recently, it has received its first export order; it has placed 7.5 per cent. Per share reported almost 100% increase in net profit 95 cr in Q2FY22. However, the major trigger for the stock is the recent liberal drone policy announced by the central government. It is the only listed company in India to have a proven drone manufacturing technology. Recently listed Paras Defense has said that it will also make drones in the future, but at present Zen Technologies is the only listed company that makes drones. Hence, one can add this stock to their portfolio as the central government’s drone policy is going to push this multibagger stock from the next financial year.” He added that the company has announced fund raising in mid-October 2021. Which is going to help the company’s development in the future.

In line with the views of Avinash Gorakshakar; Sumeet Bagadiya, Executive Director, Choice Broking said, “This multibagger defense stock has strong support 175 to 180 levels. Can buy stock at current levels for one month target from 240 maintain stop loss at 250 175 per share level. Any major downside in the stock should be accumulated as it is looking highly positive on the chart pattern.”

Zen Technologies has recently done some wholesale deals where some of the big investment houses like ICICI Prudential Mutual Fund, Goldman Sachs India, Citigroup Global Markets Mauritius and Morgan Stanley Mauritius Company have bought stake in the company.

In Q2Fy22, Zensar Technologies reports 7.5 percent growth in net profit 94.4 crores. Posted a benefit of 87.8 crore in the year-ago period. Defense company’s operating revenue up 12.2 percent 1,050.6 crore in the reported quarter from 936.4 crore in the same period of the previous financial year.

Disclaimer: The views and recommendations given above are those of individual analysts or broking companies and not of Mint.