Shares of Paras Defence and Space Technologies rose over a percent in early deals on Friday amid weakness in the broader market. The upmove in the stock came after the defence firm said it won an international order from Elbit Security Systems Limited, Israel.
The order is valued at approximately 3.8 million USD (Rs 34 cr) for ElectroOptics.
Paras Defence shares rose 1% to Rs 718 against the previous close of Rs 710.80 on BSE. Market cap of the firm stood at Rs 5,786 crore.
Total 6178 shares of the firm changed hands amounting to a turnover of Rs 43.92 lakh. The stock fell to a 52-week low of Rs 401 on April 7, 2025 and touched a 52 week high of Rs 971.80 on May 19, 2025.
“We are pleased to inform you that Paras Defence and Space Technologies Limited (“PARAS”), has received an international order from Elbit Security Systems Limited, Israel valued at approximately 3.8 million USD (Rs. 34 crs) for ElectroOptics,” said Paras Defence.
Paras Defence is engaged in designing, developing, manufacturing, and testing a wide range of defence and space engineering products and solutions. Paras Defence’s business is highly dependent on projects and programmes that are undertaken by the central government and associated entities, such as defence public sector undertakings and government organisations involved in space research.