Paras Defence and Space Technologies soars on inking MoU with SAMEER
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Paras Defence and Space Technologies is currently trading at Rs. 546.05, up by 12.30 points or 2.30% from its previous closing of Rs. 533.75 on the BSE.
The scrip opened at Rs. 535.05 and has touched a high and low of Rs. 550.60 and Rs. 535.05 respectively. So far 17011 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. 447.10 on 28-Mar-2023.
Last one week high and low of the scrip stood at Rs. 550.60 and Rs. 525.05 respectively. The current market cap of the company is Rs. 2137.20 crore.
The promoters holding in the company stood at 58.94%, while Institutions and Non-Institutions held 3.10% and 37.96% respectively.
Paras Defence and Space Technologies has signed a Memorandum of Understanding (MoU) with Society of Applied Microwave Electronics Engineering Research (SAMEER). The objective of this MoU is to work together, fulfilling the needs of Indigenous Design, Development and Manufacturing of various technologies such as Anti-Drone systems, Atmospheric instrumentation, Next generation communication technologies including 6G, Radars and Antenna technologies, Photonics & Optoelectronics, RFIC & MMIC technologies, EMI/EMC technologies and Medical technologies.
This MoU will facilitate both parties to propose and execute projects jointly towards indigenization of the technologies of national interest. SAMEER is an autonomous R&D Laboratory under the Ministry of Electronics & Information Technology (MeitY).
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.
