Paras Defence share price falls over 6% after three promoters sell stakes via bulk deals. Do you own?

Paras Defence share price fell as much as 5 per cent in Tuesday's trading session after promoters were seen trimming stakes in the defence manufacturer via bulk deals on Monday.

At 9:50 am, Paras Defence stock touched an intraday low to ₹1,620.50 on National Stock Exchange (NSE) on May 20.

Stake sale details

On Monday, three promoters of Paras Defence & Space Technologies Ltd. — Sharad Virji Shah, Anish Hemant Mehta, and Kaajal Harsh Bhansali — offloaded a portion of their holdings through block deals.

As per available data, Sharad Virji Shah sold 9 lakh shares at ₹1,682.87 each, while Anish Mehta and Kaajal Bhansali each sold 2.17 lakh shares at ₹1,664.62 per share.

The promoters of the company collectively sold 13.34 lakh shares, which represents 5.8% of their total holdings and 3.3% of the company's total outstanding shares.

As of the March quarter, the promoters of Paras Defence held a 57.05% stake in the company. Within this, Sharad Shah owned 18.05%, while both Anish Mehta and Kaajal Bhansali each held a 3.53% stake.

The defence manufacturer launched its IPO in September 2021 at an issue price of ₹175 per share. On Monday, the stock closed at ₹1,707.70, after reaching an all-time high of ₹1,943.60 during the day.

Indian defence stocks have recently drawn significant attention, especially after Operation Sindoor showcased the country’s robust domestic defence manufacturing capabilities.

“The Nifty India Defence Index has surged over 50% since February 2025, recovering from a previous 33% correction, with a 9% gain in May alone. Despite the broad rally, only six stocks have surpassed their previous highs, while others remain below peak levels. The sector is seen as a promising long-term opportunity, backed by rising defence budgets, growing export interest, and sustained policy focus under the Make in India and Atmanirbhar Bharat initiatives,” said Siddharth Bhamre - Head of Research, Asit C Mehta Investment Intermediates Ltd.

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