Zen Tech close to its high

Zen Technologies is doing well today; rising over 2.5% higher to Rs.317, the stock was very close to its 52-week high of Rs.319.75.

The company posted a very optimistic outlook ahead while stating that it has received order worth Rs.127 crore.

The CMD of the company, Atul Atluri said that Zen has faced setbacks in the past (2012), due to cancellation of some large tenders that were within the grasp. The situation looked bleak back then and the company had decided to stay away from any large tender. But since then, the CMD said that the company has made a complete turnaround and is now well-positioned to participate in and contribute to the country's growth and progress. The company believes that the next few years will be extremely positive, and it anticipates the signing of several more significant contracts in the near future. Zen believes that it will play a significant supporting role in the government's prestigious Agnipath initiative and efforts to modernize training.

Though details of the order were not given, for the market this forward looking statements were good enough.