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Zen Technologies Shares: The drone maker’s stock is up 13% following Q4 results


Zen Technologies shares attracted a lot of buying interest in early morning deals on Monday. Zen Technologies’ share price opened up today, reaching an intraday high 324.70 each on NSE, up more than 13 percent within minutes of the stock market opening today. While climbing to intraday high of 324.70 per share, this share of the drone manufacturer came close to its highest point in its life 342.40 each on NSE.

Stock market experts say Zen Technologies’ stock is surging on strong Q4 results announced over the weekend. In FY23, Zen Technologies reported better-than-expected numbers. The company reported strong growth in its order book and YoY sales grew by more than 200 percent. The company reported year-over-year growth in EBIDA of more than 700 percent, while the company’s PAT grew more than 1,750 percent year-over-year.

Q4 results in focus

On reasons for the rise in Zen Technologies share price, Avinash Gorakshkar, Head of Research at Profitmart Securities said: “Company is a drone manufacturer and it has reported better-than-expected quarterly and annual results that have caught the attention of stock market bulls. The company continues to grow going from strength to strength and the market is valuing its business numbers in sync. The drone maker stock is a good portfolio stock and one can add this stock to one’s portfolio if the stock undergoes profit booking.”

Stock outlook Zen Technologies

Ganesh Dongre, Senior Manager – Technical Research at Anand Rathi said of what the charting pattern suggests in relation to this stock of the drone manufacturer, “Currently the stock looks expensive and on the weekly charting pattern it also looks weak. Those who have this stock in their portfolio should post a partial gain and continue to accumulate as it reaches approx 250 to 260 levels each with stop loss on 210. Buying fresh is also recommended in Zen Technologies at 250 to 260 zone with stop loss maintained at 210 levels each.”

Anand Rathi expert insisted that Zen Technologies shares could turn very bullish once they close above 340 levels. He advised long term investors to upgrade to trailing stop loss 280 as soon as the stock gives a breakout at 340 on a closing basis.

disclaimer: The views and recommendations made above are those of individual analysts or brokerage firms, and not of Mint. We recommend that investors consult certified experts before making investment decisions.

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Joanna Swanson

Joanna Swanson is Europe correspondent at the Thomson Reuters Foundation based in Brussels covering politics, culture, business, climate change, society, economies and inclusive tech. With specific focus in breaking news, she has covered some of the world's most significant stories.