₹813 Share: DIIs increase stake, This defence stock secures submarine periscope contract from DRDO worth Rs 53 crore!

Paras Defense and Space Technologies Ltd (NSE: PARAS) – Paras Defense has received an order of Rs 53 crore from Instrument Research and Development Establishment (IRDE), a laboratory of the Defense Research and Development Organization (DRDO) on January 32. The order requires Paras Defense to design and optimize optical periscopes for the Defense Ministry.

The contract for design, optimization, fabrication, and qualification of optical periscope for ICS for submarine application has been won from the government by January 30, 2024. of India, Ministry of Defence, DRDO,” the defense company said in an exchange filing.
Paras Defense said the company will complete deliveries in the financial year 2024-25 (FY24).
NSE: PARAS Share Price Target share has increased by +60.25  in the last 1 month, +289.35 

About Paras Defense and Space Technologies Ltd

Paras Defense and Space Technologies Ltd manufactures rocket missiles, electronic warfare and surveillance, battle tanks and vehicles, naval systems, electromagnetic shielding systems, space imaging systems, space research, drone technology, and aviation.
Paras defense has large markets, it is the second-largest armed force and the third-largest military spender.
Paras Defense is currently located in Navi Mumbai, Amarnath, Bangalore, Ahmedabad, New Delhi, and Hyderabad, while Electronic and Optical Design, handles sales and marketing functions such as Advance Electronic.
Founded: 16 June 2009
Headquarters: India
Number of employees: 404 (2023)
Subsidiaries: Paras Aerospace Private Limited

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