Zen Technologies up 1% after launching four new remote-controlled defense systems and surveillance systems

The company reported that the newly launched remote-controlled weapons and surveillance systems make use of advanced and state-of-the-art technology. The new launches are RCWS – 7.62 X 51 MMG (Parashu), Tank Mounted RCWS – 12.7 X 108 HMG (Fanish), Naval RCWS – 12.7 X 99 HMG (Sharur), and Artillery Rugged Camera (Durgam).

The company reported the new launch aligns with the company’s mission and commitment to the Atmanirbhar Bharat vision. The company is ordering solutions for armored vehicles, and naval defense, and has a track record of providing defense solutions in the past. Previously, the company had launched systems like Hawkeye, Prahasta, and Sthir Stab 640.

Ashok Atluri, chairman and managing director of Zen Technologies, said, that the company is focused on designing solutions to boost national defense and also expand into global security. He added that the newly launched systems will boost operational capabilities while keeping soldiers out of harm’s way.

“Our new range of remote-controlled weapon and surveillance systems are designed to equip armed forces with advanced tools that significantly boost operational capabilities while taking our soldiers out of harm’s way giving our forces extraordinary tactical superiority,” he said.

In August, the company reported that it had successfully raised ₹1,000 crore through a qualified institutional placement (QIP). The company raised the funds through the issue of 62,46,096 equity shares at an issue price of ₹1,601 crore. The amount was at a 5% discount to the QIP floor price of ₹1,685.18 per share. The issue saw strong demand and was oversubscribed by 5 times.

Shares of the company have risen by nearly 120% since the beginning of the year. The stock has gained over 121% in the past year.