Paras Defence shines as its arm inks MoU with Spacekawa Explorations

Paras Defence And Space Technologies is currently trading at Rs. 530.00, up by 11.60 points or 2.24% from its previous closing of Rs. 518.40 on the BSE.

Paras Defence
Paras Defence

The scrip opened at Rs. 530.00 and has touched a high and low of Rs. 534.00 and Rs. 527.85 respectively. So far 632 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. 534.00 and Rs. 480.30 respectively. The current market cap of the company is Rs. 2021.76 crore.

The promoters holding in the company stood at 58.94% while Institutions and Non-Institutions held 3.41% and 37.65% respectively.

Paras Defence and Space Technologies’ subsidiary — Paras Anti-drone Technologies has entered into Memorandum of Understanding (MoU) with Spacekawa Explorations (Kawa Space) for indigenous developments and deployment of Space intelligence, surveillance and reconnaissance (ISR) payloads which will include RF Wideband Software defined Radio (SDRs).

Further by signing this MOU, Paras Anti-drone Technologies and Spacekawa Explorations intend to develop and advance technologies for Space Applications that can address the challenges of a rapidly changing world.

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.

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