Zen Tech secures project sanction order from Indian Army; Stock hits upper circuit

25 Mar 2022 , 11:38 AM

Zen Technologies Limited has received a project sanction order (PSO) from Indian Army, for design and development of prototype of Integrated Air Defence Combat Simulator (IADCS). The prototype is to be made ready for User Trial Readiness Review (UTRR) within a period of 30 weeks, company said in a filing on Thursday.

On completion of UTRR, an order towards procurement of 16 no’s of IADCS will be issued by the Indian Army for submission of their commercial offer prior to commencement of Field Evaluation Trials. The project will be completed in two phases viz., Prototype Development Phase and Procurement Phase.

The equipment is envisaged to facilitate imparting training to gunners at unit level.

At around 11.40 am, Zen Technologies Ltd was trading at Rs205.35 apiece up by Rs9.75 or 4.98% (5% upper circuit) from its previous closing of Rs195.60 apiece on the BSE. The scrip opened at Rs205.35 and has touched a high and low of Rs205.35 and Rs202 respectively.