Shares of Paras Defence and Space Technologies Ltd jumped 9% in early trading after the company secured a major order worth ₹142.31 crore from the Defence Research and Development Organisation (DRDO). As 0f 9:17 AM, the shares were trading 8.04% higher at Rs 1,030.55.
The contract, awarded by the Center for High Energy Systems & Sciences (CHESS), DRDO, Hyderabad, strengthens Paras Defence’s position in India’s growing defense technology sector.
The order involves the development of a Laser Source Module and its integration with a Beam Control System (BCS) on a mobile platform. This project is part of DRDO’s High-Power Laser System initiative aimed at enhancing India’s defense capabilities against aerial threats, including drones and missiles. The contract is expected to be executed within 24 months.
Paras Defence shares opened at ₹975.00 and surged to a high of ₹1,044.70, maintaining a low of ₹975.00. The stock remains well below its 52-week high of ₹1,592.70 but significantly above the 52-week low of ₹610.00.
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