Paras Defence and Space Technologies shares hit 5% upper circuit after Rs 305 crore order win

Paras Defence and Space Technologies Ltd.’s shares are locked in an upper circuit of 5% after one of the company’s units secured an order from L&T.

An associate company, Controp-Paras Technologies Pvt. Ltd., obtained an order from L&T for ₹305 crore, which included integrated logistics support packages, extended warranty charges and the manufacturing and supply of 244 Sight – 25 HD Electro-Optics systems.

Paras Defence will execute the Indian content of the said order by a separate order that Contorp would issue to the firm and notification of the order will be sent to the exchanges once received.

Paras Defence’s shares are now trading at ₹1,208.35, with a 5% upper circuit.

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