Zen Technologies Ltd. has seen a significant increase in its shares, rising by almost 8 percent to Rs 2,033, following positive predictions from Nuvama Institutional Equities.
The brokerage has reaffirmed its 'Buy' rating on the stock and set a target price of Rs 2,200, suggesting a potential increase of 16.5 percent from the previous closing price.
This optimistic outlook comes after Zen Tech signed a memorandum of understanding (MoU) with AVT Simulation, a company based in Florida, with the aim of expanding into the US defense market.
The collaboration was announced during the National Training & Simulation Association's Interservice/Industry Training, Simulation, and Education Conference, highlighting Zen Tech's strategic move to enhance its presence in simulation training and anti-drone technology.
Nuvama emphasized that this partnership will enable Zen Tech to provide Unmanned Aerial System (UAS) technology to AVT, further strengthening its position in the defense sector.