Multibagger stock: After unveiling of liberal drone rules by the central government , Zen Technologies share price has been skyrocketing for the last 9 trade sessions. In less than a fortnight, this Hyderabad-based defence scrip has become a multibagger stock delivering around 120 per cent return to its shareholders.

On August 25 (Wednesday), Zen Technologies shares closed at Rs85.05 at NSE and today it has gone up to Rs186.05 per share mark. According to stock market experts, the stock has recently broken its hurdle at Rs169 and it may go up to Rs225 soon.

Speaking on the reason for such multibagger return is just 9 trade sessions; Avinash Gorakshkar, Head of Research at Profitmart Securities said, "This is a drone manufacturer company, which has recently got Rs155 crore supply order from Indian Air Force. Zen Technologies is the only listed company, which is in drone manufacturing. So, the recent Government of India’s (GoI’s) decision to ease drone rules is also fueling this defence stock's rally. In fact, Zen Technologies’ financials are also strong as its order book has jumped from around Rs190 crore in June 2021 to around Rs400 crore in July to August period. So, it has more than doubled its order book in the last two months."

Avinash Gorakshkar went on to add that market is speculative about GoI allowing drone use in e-commerce sector for supply of orders. In that case, Zensar Technologies will be the major beneficiary and hence the stock is a portfolio stock that one can keep in one's portfolio. However, he advised investors to wait for profit-booking as the stock has already scaled too high.

Advising Zensar Tech shareholders to hold the counter further; Mudit Goel, Senior Research Analyst at SMC Global Securities said, "The stock had some hurdle at Rs169, which it has already breached. So, those who have this stock in their portfolio can further hold this counter for the immediate target of Rs202. However, they must maintain trailing stop loss at Rs170."

Unveiling important levels in regard to Zen Technologies shares; Santosh Meena, Head of Research at Swastika Investmart Ltd said, "The defence stock is likely to head towards Rs200 to Rs225 level as it has broken its Rs169 hurdle."

Taking cue from this drone manufacturing stock, another aerospace stock Taneja Aerospace Aviation has hit 20 per cent upper circuit today. The stock opened today with an upside gap of Rs0.25 and went on to hit 20 per cent upper circuit at Rs52.95 per stock levels. This is a Pune-based non-military aircraft manufacturer and it has submitted its annual FY21 report in which, it has reported rise in PAT and Gross Income compared to FY20. In FY 2020-21 it has reported Gross Income of Rs348.15 crore against the Gross Income of Rs325.223 crore in FY 2019-20. Similarly, it has reported PAT at 62.275 crore in FY 2020-21 against Rs58.407 crore in FY2019-20.