Paras Defence touches roof as its associate company bags order worth Rs 305 crore
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Paras Defence is locked its upper circuit limit at Rs. 1207.40, up by 57.45 points or 5.00% from its previous closing of Rs. 1149.95 on the BSE.
The scrip opened at Rs. 1204.50 and has touched a high and low of Rs. 1207.40 and Rs. 1200.10 respectively. So far 3653 shares were traded on the counter.
The BSE group 'T' stock of face value Rs. 10 has touched a 52 week high of Rs. 1592.75 on 05-Jul-2024 and a 52 week low of Rs. 608.75 on 28-Mar-2024.
Last one week high and low of the scrip stood at Rs. 1265.00 and Rs. 1139.50 respectively. The current market cap of the company is Rs. 4708.87 crore.
The promoters holding in the company stood at 58.94%, while Institutions and Non-Institutions held 3.04% and 38.02% respectively.
Paras Defence and Space Technologies’ Associate Company -- Controp-Paras Technologies has received an order from Larsen and Toubro (L&T) valued at approximately Rs 305 crore (plus taxes) comprising of manufacturing and supply of 244 nos. of Sight - 25HD EO (Electro-Optics) System along with Extended Warranty Charges and Integrated Logistics Support (ILS) Package, for their CIWS Program.
The Company shall be executing the Indian Content (IC) out of the aforementioned order, vide a separate order which will be issued by Controp-Paras Technologies to the Company, details of which shall be communicated to the Exchanges, once the order is received by the Company from Controp-Paras Technologies.
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.
