Latest news with #TISA
The Hindu
an hour ago
- Business
- The Hindu
Zen Tech shares surge on acquisition of stake in defence tech firm TISA Aerospace
Zen Technologies shares hit the upper circuit on Monday after the defence training and anti-drone solutions provider announced it is acquiring majority stake in emerging defence technology firm TISA Aerospace that specialises in loitering munitions and unmanned aerial vehicles. This will mark the company's entry into the high-growth domain of loitering munitions and the ecosystem around it. It is a rapidly evolving category of precision-guided weaponry that has demonstrated significant operational relevance in modern warfare, Zen said, announcing its Board approval for ₹6.56 crore investment towards acquisition of nearly 55% stake and 4 lakh compulsorily convertible debentures. Zen shares ended 5% - upper circuit – at ₹1,995.30 each on the BSE. 'TISA's expertise in loitering munitions provides us with immediate access to advanced technologies and platforms that align with the emerging operational requirements of the Armed Forces,' Chairman and Managing Director Ashok Atluri. TISA has achieved significant research and development milestones, including successful execution of a project for DRDO with critical design assistance from IIT Madras. By integrating these capabilities with its existing strengths in anti-drone systems and propulsion technologies, Zen said it sought to build a broader and more future-ready defence portfolio. 'We see strong potential in product integration across platforms, enabling us to scale faster and compete more effectively in both domestic and global markets,' he said in a release. TISA was founded in December 2020.
Time of India
5 hours ago
- Business
- Time of India
Zen Technologies acquires 55% stake in Raghu Vamsi Group's defence drone company TISA Aerospace
HYDERABAD: With the spotlight on the defence drone sector post Operation Sindoor, Hyderabad-based anti-drone tech player Zen Technologies Limited has acquired majority stake in emerging defence technology player TISA Aerospace Pvt Ltd, which specialises in indigenously developing loitering munitions and unmanned aerial vehicles (UAVs). Zen Technologies will be acquiring around 54.7% stake in Hyderabad-based TISA Aerospace for a consideration of nearly Rs 6.6 crore. This it will be doing through the acquisition of 2,06,518 equity shares from existing shareholders in the company. Zen Technologies will also be acquiring another 4 lakh 6% compulsory convertible debentures of TISA, which was set up by Raghu Vamsi Group's promoter Vamsi Vikas Ganesula and Kiran Kumar Vagga in December 2020. News of the acquisition powered Zen Technologies shares to the 5% upper circuit at Rs 1995.30 a share on the Bombay Stock Exchange on Monday as compared to the previous sessions close of Rs 1900.30 a share. The move marks Zen Technologies' foray into the rapidly growing domain of loitering munitions, UAVs and precision guided weaponry. Zen Technologies chairman and managing director Ashok Atluri said the move would beef up the company's presence in the rapidly evolving defence drone sector. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Giao dịch CFD với công nghệ và tốc độ tốt hơn IC Markets Đăng ký Undo 'TISA's expertise in loitering munitions provides us with immediate access to advanced technologies and platforms that align with the emerging operational requirements of the armed forces,' he said. Pointing out that TISA has achieved significant R&D milestones, which includes the successful execution of a project for DRDO with critical design assistance from IIT Madras, Atluri said: 'By integrating these capabilities with our existing strengths in anti-drone systems and propulsion technologies, we are building a broader and more future-ready defence portfolio.' He said the move is in line with India's 'urgent need' for self-reliance in defence capabilities, particularly in drones and loitering munitions. 'We see strong potential in product integration across platforms, enabling us to scale faster and compete more effectively in both domestic and global markets,' Atluri added. TISA Aerospace is focused on the design, development, and manufacture of advanced loitering munitions and UAVs tailored for defence applications. The company has successfully delivered loitering munitions meeting DRDO specifications and is developing new variants for the Indian Army. Stay informed with the latest business news, updates on bank holidays and public holidays . AI Masterclass for Students. Upskill Young Ones Today!– Join Now
Business Standard
7 hours ago
- Business
- Business Standard
Sensex, Nifty trade lower amid Iran-Israel tensions; VIX rallies 3.43%
The key equity indices traded with major losses in the mid-morning trade, weighed down by rising geopolitical tensions and a sharp selloff in IT stocks. Escalating conflict between the US and Iran, a spike in crude oil prices, and concerns over potential economic fallout triggered broad-based risk aversion among investors. The Nifty traded below the 24,950 mark. Auto shares declined after rising for three consecutive sessions. At 11:30 ST, the barometer index, the S&P BSE Sensex, tanked 568.08 points or 0.70% to 81,830.43. The Nifty 50 index slipped 164.20 points or 0.66% to 24,948.80. The broader market outperformed the frontline indices. The S&P BSE Mid-Cap index shed 0.09% and the S&P BSE Small-Cap index rose 0.17%. The market breadth was negative. On the BSE, 1,448 shares rose and 2,264 shares fell. A total of 229 shares were unchanged. The NSE's India VIX, a gauge of the market's expectation of volatility over the near term, jumped 3.43% to 14.14. Economy: The HSBC Flash India Composite Output Index a seasonally adjusted index that measures the month-on-month change in the combined output of India's manufacturing and service sectors climbed to a 14-month high of 61.0 in June. Rising from 59.3 in May, the latest reading was consistent with a sharp rate of expansion that was well above the long-run series average. The HSBC Flash India Manufacturing PMI rose from 57.6 in May to 58.4 in June, signalling the best improvement in operating conditions since April 2024. Buzzing Index: The Nifty Auto index fell 1.01% to 23,440.40. The index added 1.94% in the previous three consecutive trading sessions. Samvardhana Motherson International (down 2.76%), Bosch (down 1.67%), Mahindra & Mahindra (down 1.5%), Tube Investments of India (down 1.44%), Hero MotoCorp (down 1.38%) were the top losers. Among the other losers were TVS Motor Company (down 1%), Bajaj Auto (down 0.84%), Tata Motors (down 0.81%), Maruti Suzuki India (down 0.81%) and Balkrishna Industries (down 0.71%) declined. On the other hand, MRF (up 0.97%) ,Bharat Forge (up 0.77%) and Ashok Leyland (up 0.02%) added. Stocks in Spotlight: Bharat Electronics (BEL) advanced 2.42% after the company announced it had secured additional orders worth Rs 585 crore since its last disclosure on 5 June 2025. Zen Technologies hit an upper limit of 5% after the companys board has approved the acquisition of TISA Aerospace (TISA) through a mix of share purchase plus compulsorily convertible debentures (CCDs) from current shareholders of TISA. Embassy Developments added 3.83% after the company announced the signing of a joint development agreement (JDA) for nearly 17.9-acre land parcel in Whitefield, Bengaluru. Global Markets: US Dow Jones futures were down 96 points, hinting at a negative start for Wall Street. Asian markets slumped on Monday as investor jitters grew following the US airstrikes on three Iranian nuclear sites, which pushed oil prices higher and reignited fears of a wider Middle East conflict. Brent Crude climbed to $78.52 a barrel, continuing its upward trend amid regional tensions. On the macro front, Japan delivered a pleasant surprise. Its manufacturing sector returned to expansion in June, with the au Jibun PMI rising to 50.4 from Mays 49.4. The services sector also saw steady growth, with the index nudging up to 51.5 from 51.0. Back in the US, two of the three major indices closed lower on Friday. The S&P 500 slipped 0.22%, marking its third straight loss, while the Nasdaq dropped 0.51%. The Dow managed a modest gain of 0.08% as investors weighed geopolitical developments and the Feds next move on rates.
Business Standard
7 hours ago
- Business
- Business Standard
Zen Tech jumps after board nod to acquire majority stake in TISA Aerospace
Zen Technologies rallied 4.01% to Rs 1,976.50 after the company's board has approved the acquisition of TISA Aerospace (TISA) through a mix of share purchase plus compulsorily convertible debentures (CCDs) from current shareholders of TISA. TISA Aerospace is engaged in the design and development of UAVs for the defence industry. Its turnover was Rs 1.81 crore in FY25. As a part of the deal, Zen Technologies will acquire 2,06,518 equity shares or 54.67% stake in TISA Aerospace, along with 4,00,000 CCDs with a 6% interest rate and a face value of Rs 100 each, from an existing CCD holders. The board has approved a total investment of up to Rs 6.56 crore for the acquisition. This investment represents a focused entry into the high-growth domain of loitering munitions and the ecosystem around it a rapidly evolving category of precision-guided weaponry that has demonstrated significant operational relevance in modern warfare. The acquisition of the shares and CCDs are expected to be completed by Q2 of FY 2025-26, subject to completion of customary closing formalities. Ashok Atluri, chairman and managing director of Zen Technologies, said, This acquisition is a decisive step towards strengthening Zens position in the rapidly evolving defence drone sector. TISAs expertise in loitering munitions provides us with immediate access to advanced technologies and platforms that align with the emerging operational requirements of the Armed Forces. TISA has achieved significant R&D milestones, including the successful execution of a project for DRDO with critical design assistance from IIT Madras. By integrating these capabilities with our existing strengths in anti-drone systems and propulsion technologies, we are building a broader and more future-ready defence portfolio. This move is well-aligned with Indias urgent need for self-reliance in defence capabilities, particularly in drones and loitering munitions. We see strong potential in product integration across platforms, enabling us to scale faster and compete more effectively in both domestic and global markets. Zen Technologies is a pioneer and leader in providing world class state-of-the-art defence training and anti-drone solutions and has a proven track record in building training systems for imparting defense training and measuring combat readiness of security forces. The companys consolidated net profit surged 189.18% to Rs 101.04 crore on 129.86% jump in revenue from operations to Rs 324.97 crore in Q4 FY25 over Q4 FY24.
Business Standard
7 hours ago
- Business
- Business Standard
Nifty trades below 25,050; European mrkt opens lower
The frontline indices traded with modest cuts in the afternoon trade as escalating geopolitical tensions between the US and Iran, coupled with a rise in crude oil prices and concerns over potential economic fallout, triggered broad-based risk aversion among investors. The Nifty traded below the 25,050 mark. IT, auto and FMCG shares declined, while media, metal and consumer durables stocks advanced. At 13:30 IST, the barometer index, the S&P BSE Sensex, tanked 344.25 points or 0.42% to 82,063.92. The Nifty 50 index slipped 84.90 points or 0.34% to 25,026.60. The broader market outperformed the frontline indices. The S&P BSE Mid-Cap index rose 0.28% and the S&P BSE Small-Cap index added 0.40%. The market breadth was negative. On the BSE, 1,700 shares rose and 2,241 shares fell. A total of 198 shares were unchanged. Economy: The HSBC Flash India Composite Output Indexa seasonally adjusted index that measures the month-on-month change in the combined output of India's manufacturing and service sectorsclimbed to a 14-month high of 61.0 in June. Rising from 59.3 in May, the latest reading was consistent with a sharp rate of expansion that was well above the long-run series average. The HSBC Flash India Manufacturing PMI rose from 57.6 in May to 58.4 in June, signalling the best improvement in operating conditions since April 2024. Gainers & Losers: Trent (up 3.77%), Bharat Electronics (up 2.87%), Hindalco Industries (up 2.37%), Adani Enterprises (up 1.21%) and SBI Life Insurance Company (up 0.74%) were the major Nifty50 gainers. Infosys (down 2.29%), Larsen & Toubro (down 1.98%), Mahindra & Mahindra (down 1.65%), Hero MotoCorp (down 1.64%) and HCL Technologies (down 1.43%) were the major Nifty50 losers. Stocks in Spotlight: Ideaforge Technology hit an upper limit of 10% after the company secured an order worth approximately Rs 137 crore, inclusive of all charges to supply Mini UAVs with accessories to Ministry of Defence. NBCC (India) rose 1.75% after the company secured an order worth Rs 296.53 crore from the Meerut Development Authority (MDA) for redevelopment projects in Meerut, Uttar Pradesh. Bharat Electronics (BEL) advanced 2.81% after the company announced it had secured additional orders worth Rs 585 crore since its last disclosure on 5 June 2025. Zen Technologies hit an upper limit of 5% after the companys board approved the acquisition of TISA Aerospace (TISA) through a mix of share purchases plus compulsorily convertible debentures (CCDs) from current shareholders of TISA. Global Markets: European markets opened lower and Asian markets traded mixed on Monday as investor jitters grew following the US airstrikes on three Iranian nuclear sites, which pushed oil prices higher and reignited fears of a wider Middle East conflict. Brent Crude climbed to $78.52 a barrel, continuing its upward trend amid regional tensions. On the macro front, Japan delivered a pleasant surprise. Its manufacturing sector returned to expansion in June, with the au Jibun PMI rising to 50.4 from Mays 49.4. The services sector also saw steady growth, with the index nudging up to 51.5 from 51.0. Back in the US, two of the three major indices closed lower on Friday. The S&P 500 slipped 0.22%, marking its third straight loss, while the Nasdaq dropped 0.51%. The Dow managed a modest gain of 0.08% as investors weighed geopolitical developments and the Feds next move on rates.
