Paras Defence Secures Rs 46 Crore Anti-Drone Order, Shares Surge
Paras Defence and Space Technologies Ltd, a leading Indian defence and space engineering solutions provider, has secured a significant order from the Ministry of Defence, Government of India. The company's shares surged following the news.
The order, worth approximately Rs 46.19 crore, was awarded on October 3, 2023, for the supply of Anti-Drone Systems. These systems include drone jammers, and they are expected to be delivered by March 2026.
Paras Defence, known for its expertise in optics, electronics, heavy engineering, and anti-drone systems, will provide turnkey solutions for this project. The company was founded in 2009 and listed on stock exchanges in 2021. This latest order follows a recent $3.8 million contract for ElectroOptics from Elbit Security Systems Limited.
The Ministry of Defence's order is a testament to Paras Defence's capabilities in anti-drone technology. The company's shares reacted positively to the news, trading 3.07% higher at Rs 718.55 on NSE as of 2:25 pm.
Read also:
- Mars Petcare Opens Gold-LEED Certified Center, Aims for Carbon Neutrality by 2040
- Planned construction of enclosures within Görlitzer Park faces delays
- Controversy resurfaces following the elimination of diesel filter systems at Neckartor: A renewed conflict over the diesel restriction policy
- Perennial Seeks Growth Marketing & GTM Associate for Carbon Removal Mission
