Shares of Paras Defence and Space Technologies surged in morning trade, reaching a 5% upper circuit as the company announced securing a significant order worth INR 42.05 crore (plus taxes).
The order, placed by Opto Electronics Factory (OLF), involves the supply of five types of electronic control sub-systems used in the advanced Thermal Imaging Fire Control System (TIFCS). This key win is expected to strengthen Paras Defence’s position within India’s growing defence technology sector.
Paras Defence’s stock opened at Rs 965.50 today, climbing to a day-high of Rs 1,007.90 following news of the contract. The stock has been trending upwards, benefiting from robust investor interest and reached its 5% upper circuit in early trade. Over the past 52 weeks, the stock has recorded a high of Rs 1,592.70 and a low of Rs 610.00, showing considerable volatility but promising growth potential amid ongoing contract wins.
