Page 2 - Zen Tech News Today

Defence stocks: The company, in an exchange filing, said, "Sika Interplant has secured significant new orders for advanced engineering products and services in the recent past. With these recent contracts, the cumulative of new orders received by Sika since the start of FY 2023-24 is Rs 117 crore (approx.) as on August 11, 2023." The company provides advanced products and solutions to the aerospace and defence sector.

A reasonably positive candle was formed on the daily chart on Wednesday with a long lower shadow. Technically, this pattern indicates a bullish Hammer-type pattern (not a classical one), but its placement is not ideal

Continuous foreign fund outflows and weak trend in Asian and European markets also played spoilsport for the domestic markets

During this quarter, Zen Technologies has secured new orders worth Rs 202 crore. Additionally, in July 2023, they bagged orders worth around Rs 500 crore.

Nifty inched higher to levels just below 19600, while Sensex added 232 points and closed at 65,953. Sectorally, healthcare and IT indices led the gains

Markets ended flat after a recent dip, with selective participation from midcaps. Further consolidation is expected with high volatility due to monthly expiry and US market performance. Recommendations for hedged trades until Nifty resumes the trend

SBI Securities has a target of Rs 651 on the stock, valuing it at 42 times its one-year forward earnings

The NSE Nifty index was trading 173.95 points up at 19558.25

Zen Technologies share price: On technical setup, the counter's 14-day relative strength index (RSI) came at 86.20. A level below 30 is defined as oversold while a value above 70 is considered overbought. The company's stock has a price-to-earnings (P/E) ratio of 128.87 against a price-to-book (P/B) value of 15.19.

In the Nifty pack, 39 stocks were trading in the green, while 11 stocks were trading in the red.