Shares of Paras Defence and Space Technologies exhibited a flat opening on October 23, commencing trading at Rs 738.50 on the National Stock Exchange (NSE). This development followed a regulatory filing on October 20, where the company’s Board of Directors greenlit the establishment of an associate company through a joint venture (JV) agreement with the US-based MICRO-LAM.
As per the filing, Paras Defence will secure a 40 percent stake in this collaborative venture. The primary objective of this JV, as stated by Paras Defence, is to provide specialized training, skill development, and education services centered around diamond tooling repair.
Headquartered in Mumbai, Paras Defence is a prominent manufacturer specializing in defence and space applications. The company operates across five key verticals, namely Defence & Space Optics, Defence Electronics, Heavy Engineering, Electromagnetic Pulse Protection Solutions, and Niche Technologies.
By 11:15 am, the stock price experienced a decline of 2.97%, trading at Rs ₹717.20 per share.
