Multibagger small-cap stock Paras Defence and Space Technologies hogged the limelight in trade on Thursday, August 21, following the announcement of an order win from Navratna public sector undertaking (PSU) Bharat Electronics (BEL).
Paras Defence shares traded in a narrow range today, with its day’s high of ₹692.95 and low of ₹672.35. The small-cap defence stock finally settled the day down just 0.04% at ₹680.55 on the BSE.
Paras Defence Order Win Details
The defence stock, in an exchange filing today, informed that it has received an order from BEL worth approximately ₹45.32 crore (including tax). The order pertains to the supply of signal and data processing systems and multi-sensor fusion systems. The above deliverables will be a part of Air Defence Applications.
The order received by Paras Defence from Navratna PSU BEL has to be completed within 29 months or earlier.
As of the financial year 2024-25 (FY25), Paras Defence’s order book stood at ₹928 crore.
Meanwhile, earlier this month, the company announced a teaming agreement with Germany-based High Performance Space Structure Systems GmbH (HPS GmbH).
Under this agreement, Paras and HPS GmbH will collaborate exclusively in the Indian region to co-develop and supply advanced Unfurlable/Deployable Antenna Reflector Subsystems for space applications, the company said in a press release.
Paras Defence Share Price Trend
Meanwhile, Paras Defence share price has risen 35% year-to-date (YTD) amid a strong traction for defence stocks following the India-Pakistan conflict. Additionally, it has risen 10.50% in the last one year.
It has emerged as a multibagger stock on a longer time frame, delivering 101.75% and 112% returns over two years and three years, respectively.
Paras Defence and Space Technologies is a premier Indian defence engineering company, delivering a comprehensive suite of indigenously designed, developed, and manufactured (IDDM) products and solutions for the defence and space sectors.
The company’s operations span two core verticals: Optics & Optronic Systems and Defence Engineering.
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