Zen Technologies gains on plans to set up arm in UAE

The company plans to set up 100% subsidiary in the UAE

Shares of Zen Technologies were up nearly 5% at Rs 49 after the company announced plans to expand presence in the Middle East.

The Board of Directors at its meeting held on January 05, 2015, inter alia, has considered and approved to establish a 100% wholly owned Subsidiary of Zen Technologies Limited in United Arab Emirates (UAE) to tap the global market for the products of the Company, Zen Technologies in a release today.

The stock opened at Rs 49 and touched a low of Rs 45. At 14:45PM, over 595,000 shares were traded on the Bombay Stock Exchange.