Paras Defence share price surges over 18%. Here’s why
- Approximately 706,000 shares were traded at an average price of ₹1,252 each, marking a premium of about 8% over the previous closing price. The total value of this transaction amounted to ₹88.7 crore.
Paras Defence and Space Technologies' share price soared over 18 per cent to reach ₹1367.60 following a significant equity transaction on June 18. This surge came after a large deal involving 1.8 per cent of the company’s equity was executed on the stock exchanges.
The stocks of Paras Defence and Space Technlogies were trading in green, up over 18 per cent at ₹1367.60 on June 18, at 9:57 am on BSE. The company enjoys a market capitalisation of ₹5,191.10 crore as per BSE.
Paras Defence and Space Technologies' share price hit a 52-week high on June 18 and Reached ₹1,376.30, as per NSE.
Approximately 706,000 shares were traded at an average price of ₹1,252 each, marking a premium of about 8 per cent over the previous closing price. The total value of this transaction amounted to ₹88.7 crore.
Paras Defence specializes in the design, development, manufacturing, and testing of a wide range of defense and space engineering products and solutions. As of March 2024, the company's promoters maintained a 58.94% stake in the business.
Defense stocks have garnered significant investor attention following Defence Minister Rajnath Singh's announcement of an ambitious target to achieve ₹50,000 crore in annual military exports. Singh also committed to accelerating 'Make in India' initiatives aimed at boosting domestic defense production.
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