Zen Technologies cut its initial losses on proposal to consider buyback of own shares.
The stock was up 1.61% to Rs 91.50 at 12:12 IST on BSE, having recovered from the sessions’ low of Rs 85.70.
The stock hit a high of Rs 98.45 and a low of Rs 85.70 so far during the day. The stock has a 52-week high of Rs 197.70 on 21 August 2008 and a 52-week low of Rs 59 on 23 October 2007.
The company’s current equity is Rs 8.55 crore. Face value per share is Rs 10.
The board of directors of Zen Technologies will meet on 30 October 2008 to consider buyback. The company made this announcement during trading hours today, 23 October 2008.
Zen Technologies reported a net loss of Rs 0.31 crore in Q1 June 2008 as compared to net profit of Rs 9.71 crore in Q4 March 2008. Net sales declined 85.08% to Rs 2.91 crore in Q1 June 2008 over Q4 March 2008.
The company is engaged in designing, developing and manufacturing of training simulators for the security forces. It also designs, develops and manufactures driving simulators of two types: driving simulators and driving training simulator.
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