Paras Defence and Space Technologies receives work order worth Rs 52 crore from Ministry of Defence
Paras Defence and Space Technologies has been awarded a work order worth Rs 52 crore by the Ministry of Defence for the supply of Optronic Periscopes. The company will supply the equipment by the end of the financial year 2024-25. The news has resulted in a 7% increase in the company’s share price.
Key highlights:
– Paras Defence and Space Technologies receives work order worth Rs 52 crore from the Ministry of Defence.
– The company will supply Optronic Periscopes by the end of the financial year 2024-25.
– The news has resulted in a 7% increase in the company’s share price.
This is the second contract signed by Paras Defence and Space Technologies this month. Earlier, the company had signed a contract with CONTROP Precision Technologies.
Despite the recent increase in share prices, investors who had bet on Paras Defence and Space Technologies at the beginning of the year are still facing losses of more than 2%. However, investors who had bought the company’s shares a year ago have received a return of up to 1.78%.
In other news, Wipro is buying back its shares at a price of Rs 57 per share, resulting in a profit for shareholders. The company has seen a surge of more than 7% in its share prices over the past month.
Overall, Paras Defence and Space Technologies’ recent contract with the Ministry of Defence is good news for the company and its shareholders, as it indicates growth and expansion opportunities in the defence sector.
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