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New License Authorizes Key Defence Systems
Zen Technologies has secured a significant arms manufacturing license from the government, authorizing the production of 12.7mm, 23mm, 30mm, and 40mm cannons. These rapid-fire systems are crucial for air defense, naval operations, and countering drones and loitering munitions.
Protecting Strategic Assets
Integrated with advanced fire-control systems, radar, and sensors, these cannons offer responsive and cost-effective protection. Zen Technologies noted their utility for securing strategic assets, armored formations, border areas, and critical infrastructure. The company stated that global conflicts involving modern aerial threats highlight the demand for such domestic defense solutions. Zen Technologies operates an R&D and production facility in Hyderabad and has previously supplied systems to the Indian armed forces.
Stock Market Response
Shares of Zen Technologies jumped as much as 7.8% following the announcement. The stock ultimately closed 6% higher on the National Stock Exchange (NSE). This gain extends a positive trend, with the stock up 8% over the past 12 months and 18% year-to-date.