Shares of Zen Technologies Ltd. rallied nearly 8%, reaching a day’s high of Rs 2,033 on 6th December, after the company announced signing a memorandum of understanding (MoU) with Florida-based AVT Simulation to enter the US defence market.

Zen Technologies announced a collaboration with AVT Simulation at the National Training & Simulation Association’s conference, aiming to enter the US defence market.

Zen Tech’s Chairman, Ashok Atluri, stated that AVT Simulation would help Zen Tech break into the US defence market, while Zen Tech would help expand AVT’s international business.

Robert Abascal, Founder and Chief Strategic Officer of AVT Simulation, emphasized the importance of counter-UAS technology, describing it as a significant cost driver in modern conflicts like the war in Ukraine.

In Q2FY25, Zen Tech’s profit surged 309% to Rs 62.6 crore, up from Rs 15.3 crore, while revenue grew 263% from Rs 66.5 crore to Rs 241.8 crore.

So far in 2024, the stock has given staggering returns of 144%.

At 1:15 PM, the shares of Zen Tech were trading 2.16% higher at Rs 1,927.85 on NSE.

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