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Titagarh Rail Systems Ltd rose 2.41% today to trade at Rs 958.6. The BSE Capital Goods index is up 0.52% to quote at 71920.7. The index is up 1.17 % over last one month. Among the other constituents of the index, Zen Technologies Ltd increased 2.34% and Bharat Heavy Electricals Ltd added 2.06% on the day. The BSE Capital Goods index went down 0.56 % over last one year compared to the 6.32% surge in benchmark SENSEX.
Titagarh Rail Systems Ltd has added 7.51% over last one month compared to 1.17% gain in BSE Capital Goods index and 3.16% rise in the SENSEX. On the BSE, 20125 shares were traded in the counter so far compared with average daily volumes of 2.16 lakh shares in the past one month. The stock hit a record high of Rs 1896.5 on 27 Jun 2024. The stock hit a 52-week low of Rs 655.3 on 04 Mar 2025.
As a part of the deal, Zen Technologies will acquire 2,06,518 equity shares or 54.67% stake in TISA Aerospace, along with 4,00,000 CCDs with a 6% interest rate and a face value of Rs 100 each, from an existing CCD holders. The board has approved a total investment of up to Rs 6.56 crore for the acquisition.
This investment represents a focused entry into the high-growth domain of loitering munitions and the ecosystem around it — a rapidly evolving category of precision-guided weaponry that has demonstrated significant operational relevance in modern warfare.
The acquisition of the shares and CCDs are expected to be completed by Q2 of FY 2025-26, subject to completion of customary closing formalities.
Ashok Atluri, chairman and managing director of Zen Technologies, said, “This acquisition is a decisive step towards strengthening Zen’s position in the rapidly evolving defence drone sector. TISA’s expertise in loitering munitions provides us with immediate access to advanced technologies and platforms that align with the emerging operational requirements of the Armed Forces.
TISA has achieved significant R&D milestones, including the successful execution of a project for DRDO with critical design assistance from IIT Madras. By integrating these capabilities with our existing strengths in anti-drone systems and propulsion technologies, we are building a broader and more future-ready defence portfolio.
This move is well-aligned with India’s urgent need for self-reliance in defence capabilities, particularly in drones and loitering munitions. We see strong potential in product integration across platforms, enabling us to scale faster and compete more effectively in both domestic and global markets.”
Zen Technologies is a pioneer and leader in providing world class state-of-the-art defence training and anti-drone solutions and has a proven track record in building training systems for imparting defense training and measuring combat readiness of security forces.
The company’s consolidated net profit surged 189.18% to Rs 101.04 crore on 129.86% jump in revenue from operations to Rs 324.97 crore in Q4 FY25 over Q4 FY24.