Image source: oatintro/www.istockphoto.comIndian shares extended their slump on Wednesday, as escalating US-Israel clashes with Iran lifted oil prices to a 19-month high, disrupted Middle East energy shipments, and stoked fears of a prolonged conflict.
The Nifty was down 1.85% at 24,400 and the SENSEX shed 2.13% to 78,528.82 at the time of writing.
In contrast to the falling market, Zen Technologies is outperforming. At the time of writing, stock hit an intraday high of Rs 1,420 which is 5.55% up from its previous close of Rs 1,345.4.
This inverse relationship with the market is mainly because Zen Technologies is perceived as a defence stock.
Now, let us understand the reasons behind the rise...
The main driver is intensifying conflict involving Iran, US, and Israel. Recent reports of military strikes and retaliatory attacks have shifted global focus towards defense readiness.
During recent wars, there has been significant use of Unmanned Aerial Systems (UAS) which have highlighted the necessity of both offensive drone capabilities and Anti Drone Systems, which is flagship offering from Zen Technologies.
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