Shares of Paras Defence and Space Technologies Limited saw a sharp rise of 3.68%, trading at ₹1,106.50 at 2:39 PM on the NSE. This increase follows the company’s announcement of securing a license under the Arms Act, 1959, allowing it to engage in the design, development, manufacturing, and upgrading of various cannon systems, including those for naval, air defense, and armored fighting vehicles.
The stock opened at ₹1,073.60, reached an intraday high of ₹1,120.00, and recorded a low of ₹1,061.50. Its previous close was ₹1,067.20. The announcement of this strategic license has fueled investor optimism, driving the stock’s strong performance today.
This license is expected to significantly enhance the company’s position in the defense manufacturing sector, especially in producing advanced weaponry systems, further bolstering market confidence.
Stock Price Details:
- Open: ₹1,073.60
- High: ₹1,120.00
- Low: ₹1,061.50
- Previous Close: ₹1,067.20
Disclaimer: This report is for informational purposes only and does not constitute investment advice.
