Zen Technologies Rises 3% After ₹295 Cr Defence Order

Shares of Zen Technologies rose over 3% in early trade on Tuesday after the Hyderabad-based defence electronics company secured a ₹295 crore order, including GST, from the Ministry of Defence for the supply of simulators.

The stock climbed 3.3% to an intraday high of ₹1,775.50 on the NSE, outperforming the broader market, which traded lower amid weakness in banking stocks.

According to an exchange filing, the order has been awarded by a domestic entity and is expected to be executed within one year.

The fresh order comes weeks after Zen Technologies reported a weaker set of June-quarter earnings. The company posted a consolidated net profit of ₹34.4 crore for the quarter ended June 30, 2026, down 27.8% from ₹48 crore in the corresponding quarter last year.

Revenue from operations declined 10.5% year-on-year to ₹141.6 crore from ₹158.2 crore, while EBITDA fell 40.2% to ₹38.7 crore. EBITDA margin contracted sharply to 27.3% from 40.9% in the year-ago period.

QIP Timeline Extended

Separately, the company's board approved extending the utilisation timeline for the unutilised balance of proceeds raised through its qualified institutional placement (QIP) by 24 months, from August 23, 2026, to August 22, 2028.

The extension relates to funds earmarked for inorganic growth opportunities, acquisitions, strategic initiatives and general corporate purposes. The company clarified that there is no change in the objectives of the issue or the proposed utilisation of the QIP proceeds, with only the timeline being extended.

The stock's gains came even as the broader market traded in the red. At 9:32 am IST, the BSE Sensex was down 341.60 points, or 0.43%, at 78,200.84, while the NSE Nifty 50 fell 98.40 points, or 0.40%, to 24,485.40. Banking stocks remained under pressure, with the Nifty Private Bank index declining nearly 1%, led by losses in Axis Bank, Federal Bank and RBL Bank.