Zen Tech shares fall 6% after 2.5% equity worth Rs 386.1 crore changes hands in large block deal

Zen Technologies shares fell nearly 6% today as a large block deal resulted in 21.4 lakh shares, equivalent to 2.55% of equity, exchanging hands for a total value of Rs 386.1 crore at Rs 1,800 per share. This transaction has sparked concerns among investors regarding potential stake dilution or insider movements.

As of December 3, 2024, the stock price dropped 5.03% to Rs 1,816.00 compared to the previous close of Rs 1,912.25. The company’s share price has shown volatility in the past week, with a high of Rs 1,912.25 on December 2 and a low of Rs 1,763.40 on November 22, reflecting a mixed sentiment in the market.

Zen Technologies has been a prominent player in the defense simulation and training sector. The recent trade underscores growing interest in the stock while also raising questions about the motives behind the transaction. The company has been in focus recently due to its strategic partnerships and expanding market presence.

As of 9:33 AM IST, the stock was trading at Rs 1,816.00, down nearly 6% from the deal price.

 

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