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Zen Technologies spurts on mulling commercial production of ventilators

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Zen Technologies hit an upper circuit of 10% at Rs 36.60 after the company said that it is looking to commercially manufacture ventilators.

The company last month started the process of developing a ventilator prototype for India in its bid to fight against the COVID-19 pandemic.

The company announced on Monday (18 May) that the ventilator is developed and it is currently undergoing certification process. There is interest to procure these ventilators both in India and abroad. Zen is looking to commercially manufacture it and discussions are going on the possibility of outsourcing the manufacturing of the ventilators, it said in a statement.

Zen Technologies is engaged in the business of designing, developing and manufacturing state-of-the-art combat training solutions for the training of defence and security forces worldwide.

On the BSE, 17,549 shares were traded in the counter so far compared with average daily volumes of 3,615 shares in the past two weeks. The stock hit a high of Rs 36.6 and a low of Rs 34.25 so far during the day.

The stock hit a 52-week high of Rs 80 on 30 May 2019. The stock hit a 52-week low of Rs 22.4 on 31 Mar 2020.

The counter also witnessed some bit of bargain hunting. The stock has corrected 25.34% in nineteen sessions to end at Rs 32.85 on Friday (15 May 2020), from its recent closing high of Rs 44 recorded on 20 April 2020.

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(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Mon, May 18 2020. 13:10 IST