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The company also clarified that neither its promoters nor the promoter group have any interest in the awarding authority, and the transaction does not qualify as a related-party deal under regulatory norms.
Zen Technologies provides defence training and anti-drone solutions. It builds training systems for imparting defense training and measuring combat readiness of security forces. With a dedicated R&D (recognized by the Ministry of Science and Technology, Government of India) and production facility in Hyderabad, the company has applied for over 180+ patents and shipped more than 1,000 training systems around the world.
On a consolidated basis, the company’s net profit stood at Rs 59.4 crore in Q2 FY26, down 5.2% year-on-year from Rs 62.7 crore in Q2 FY25, though it rose 24.4% sequentially from Rs 47.8 crore in Q1 FY26. Total revenue came in at Rs 198.9 crore, declining 20.6% YoY from Rs 250.3 crore a year earlier, but up 10.5% QoQ from Rs 180 crore in Q1 FY26.
Commenting on the development, Ashok Atluri, Chairman and Managing Director, Zen Technologies, said, “India's first Combat Training Node isn't just about 60+ training simulators and solutions—it's proof that indigenous R&D can deliver world-class capability when policy supports it. Late Mr. Manohar Parrikar got it: companies with R&D DNA and combat-proven systems are national strategic assets, not just vendors. The CTN will deliver what every defense procurement should: faster readiness, lower costs, and home-grown technology that gives India an edge. This is what Atmanirbhar Bharat looks like when you prioritize IP over just manufacturing. The CTN represents a shift in how India approaches defense training, from importing foreign systems to building battle tested indigenous capability that can be exported globally. With rapid feedback cycles, companies like Zen can iterate based on operational lessons, something foreign vendors constrained by ITAR restrictions and commercial considerations simply cannot match.'
The counter rose 0.69% to Rs 1,392 on the BSE.
PSU bank shares rebounded after three consecutive sessions of losses.
At 12:25 IST, the barometer index, the S&P BSE Sensex fell 43.97 points or 0.05% to 84,856.74. The Nifty 50 index added 6.15 points or 0.03% to 25,968.30.
In the broader market, the S&P BSE Mid-Cap index fell 0.01% and the S&P BSE Small-Cap index rose 0.04%.
The market breadth was positive. On the BSE, 1,967 shares rose and 1,944 shares fell. A total of 212 shares were unchanged.
MCX Gold futures for 5 December 2025 settlement jumped 1.17% to Rs 1,25,300.
Derivatives:
The NSE's India VIX, a gauge of the market's expectation of volatility over the near term, declined 4.13% to 12.69. The Nifty 25 November 2025 futures were trading at 25,959.20, at a discount of 9.1 points as compared with the spot at 25,968.30.
The Nifty option chain for the 25 November 2025 expiry showed a maximum call OI of 330.9 lakh contracts at the 26,000 strike price. Maximum put OI of 321.5 lakh contracts was seen at 25,900 strike price.
Buzzing Index:
The Nifty PSU Bank index rose 1.08% to 8,455.80. The index fell 2.46% in the past three consecutive trading sessions.
Bank of Maharashtra (up 1.58%), State Bank of India (up 1.38%), Indian Bank (up 1.32%), Central Bank of India (up 1.16%), Punjab & Sind Bank (up 0.85%), Indian Overseas Bank (up 0.81%), Bank of Baroda (up 0.8%), Canara Bank (up 0.77%), Union Bank of India (up 0.68%) and Punjab National Bank (up 0.63%) advanced.
Stocks in Spotlight:
ZEN Technologies rose 0.84%. The company announced that it has received an order worth approximately Rs 108 crore from the Ministry of Defence for the supply of simulators.
Max India advanced 2.25% after the company said that its wholly owned subsidiary Antara Assisted Care Services has launched a new facility in Whitefield, Bengaluru. This 80-bed senior care home in Bengaluru's top IT hub and residential area strengthens the company's presence in Karnataka, where it now operates nearly 163 beds across Bannerghatta and Whitefield locations. Nationally, Antara now has 500 operational beds.
Yatra Online declined 5.58% after the company’s chief executive officer (CEO), Dhruv Shringi resigned due to personal reasons, effective from 24 November 2025. Following his resignation from the CEO role, the company appointed Siddhartha Gupta as the new CEO, also effective 24 November 2025.
Commenting on the development, Ashok Atluri, Chairman and Managing Director, Zen Technologies, said, 'This ₹108 crore order represents more than business growth—it's validation of indigenous R&D done right. Over a decade ago, we supplied our first tank simulators to the Indian Army. Back then, procurement systems weren't built to support single indigenous vendors. Today, this order proves what's possible when policy protects genuine Indian IP. A TERI study showed that just 15% penetration of crew gunnery simulators saves ₹1,123 crore annually for our armed forces—that's an 18:1 return on investment of ₹61 crore. These aren't just training tools; they're force multipliers that free up resources for more capability building. Operation Sindoor reminded us: procurement speed matters. The faster we can deploy indigenous solutions, the stronger we become.'
Bharat Dynamics Ltd rose 5.04% today to trade at Rs 1595. The BSE Capital Goods index is up 0.05% to quote at 70698.47. The index is up 2.33 % over last one month. Among the other constituents of the index, Titagarh Rail Systems Ltd increased 2.31% and Zen Technologies Ltd added 1.69% on the day. The BSE Capital Goods index went up 7.08 % over last one year compared to the 8.35% surge in benchmark SENSEX.
Bharat Dynamics Ltd has added 6.22% over last one month compared to 2.33% gain in BSE Capital Goods index and 1.76% rise in the SENSEX. On the BSE, 53821 shares were traded in the counter so far compared with average daily volumes of 79952 shares in the past one month. The stock hit a record high of Rs 2096 on 30 May 2025. The stock hit a 52-week low of Rs 897.15 on 18 Nov 2024.
These projects are slated for completion within a year.
Ashok Atluri, chairman and managing director, Zen Technologies, said: “Recent operations like Op Sindoor have made it clear the pace at which our defence systems evolve determines our ability to secure the nation.
Imported systems evolve at a rate set by foreign vendors and their interests, not ours. Incidents like the pager malware operation highlight why control over every system component is vital.
Buying Indian-designed, developed and manufactured products is not an option, it’s a requirement for survival as drone and cyber threats keep evolving. Zen Technologies is committed to ensuring India is always one step ahead.”