India’s Leading Defence and Space Sector Stock Jumps 11% after Company Signs MoU with South Korea’s Green Optics

On Wednesday, shares of Paras Defence and Space Technologies Limited jumped 7.95 per cent to Rs 724.15 per share from its previous closing of Rs 670.85 per share. The stock’s 52-week high is Rs 972.50 per share and its 52-week low is Rs 404.70 per share. During the session, the stock surged 11.77 per cent to its Intraday high of Rs 749.85 per share compared to the previous close.

Paras Defence and Space Technologies Limited (PARAS) has signed a Memorandum of Understanding (MoU) with Green Optics Co., Ltd., South Korea, to strengthen collaboration in the optics and optical systems segment for space and defence applications.

Green Optics Co., Ltd., South Korea, is engaged in the design and manufacturing of optics and optical systems for space, defence and related sectors. Under the MoU, both companies intend to establish a framework for joint development, manufacturing and business development in their respective regions, focusing on optics and optical systems for space and defence applications.

Paras Defence and Space Technologies (PDST) is a private sector company primarily engaged in the designing, developing, manufacturing and testing of a wide range of defence and space engineering products and solutions. The company operates across four major segments: Defence and Space Optics, Defence Electronics, Heavy Engineering, and Electromagnetic Pulse Protection Solutions.

The collaboration is aimed at leveraging complementary capabilities, technological expertise and regional strengths to expand market presence and enhance offerings in the space and defence domains.

The company has a market cap of over Rs 5,835.73 crore. The stock price has surged over 208.67 per cent in the last 3 years.

Disclaimer: The article is for informational purposes only and not investment advice.