Paras Defence and Space Technologies moves up on entering into MoU with CONTROP
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Paras Defence and Space Technologies is currently trading at Rs. 498.50, up by 18.00 points or 3.75% from its previous closing of Rs. 480.50 on the BSE.
The scrip opened at Rs. 487.70 and has touched a high and low of Rs. 502.00 and Rs. 482.15 respectively. So far 20268 shares were traded on the counter.
The BSE group 'A' stock of face value Rs. 10 has touched a 52 week high of Rs. 811.35 on 19-Sep-2022 and a 52 week low of Rs. 455.05 on 27-Feb-2023.
Last one week high and low of the scrip stood at Rs. 517.10 and Rs. 456.25 respectively. The current market cap of the company is Rs. 1926.41 crore.
The promoters holding in the company stood at 58.94%, while Institutions and Non-Institutions held 3.41% and 37.65% respectively.
Paras Defence and Space Technologies has entered into an MoU (Memorandum of Understanding) on March 14, 2023 with CONTROP Precision Technologies (CONTROP), Israel with an intent to create new opportunities and expand both parties' business in the Indian and Global Defence sector. To support the MoU objectives, the parties intend to form a Joint Venture Company (JV) in India for manufacturing Electro-Optic Systems for various applications, all in accordance with the Government of India's Make in India initiative.
Paras Defence and Space Technologies is primarily engaged in the designing, developing, manufacturing, and testing of a variety of defence and space engineering products and solutions.
