Zen Technologies, today announced receipt of a Rs 155 crore order from the Indian Air Force (IAF) for the supply of counter unmanned aircraft systems (CUAS).
Although the details of the order were not divulged, the company stated that it would carry out the order in a 12-month time frame.
This is the company's first major order in the anti-drone space. The defence training solutions provider remains confident of bagging additional orders in the future.
The stock price reacted positively to this news. Though it opened slightly lower, once this announcement was made, the price rose over 3% to hit an intraday high at Rs.453. Its 52-week high is at Rs.465.15.