Paras Defence share price surges 10% on ₹142 crore order win from DRDO

Paras Defence share price jumped nearly 10% on Thursday's trading session after the company was awarded a contract valued at around ₹142.31 crore from the Defence Research and Development Organisation (DRDO).

The order relates to the creation of a Laser Source Module and its incorporation with the Beam Control System (BCS) on a mobile platform. Additionally, the company mentioned that this falls under a High-Power Laser System contract aimed at anti-drone and anti-missile uses. The firm also stated that the project is scheduled for completion within 24 months.

Paras Defence share price today opened at an intraday low of ₹978.35 apiece on the BSE, the stock touched an intraday high of ₹1,046.95 per share.

In January, reports indicated that Paras Defence plans to invest ₹12,000 crore to establish the first optics park in Maharashtra and has signed a preliminary agreement with the state government during the ongoing World Economic Forum in Davos. The project is slated to begin in 2028 and will extend until 2035 to ensure scalability and adaptability.

This investment is intended to create a technology hub for defense, space, automotive, semiconductor, and other sectors, as stated by the company.

Additionally, it reinforces Paras Defence's dedication to the 'Make in India' initiative while promoting India's goals for technological self-sufficiency in essential sectors, the company added, noting that the initiative is expected to generate more than 2,000 direct job opportunities.

Technical Views

Anshul Jain, Head of Research at Lakshmishree Investment and Securities stated that Paras Defence share price shows early signs of reversal, eyes ₹1,200.

“After a 49% correction over the last 35 weeks, Paras Defence share price has been forming a base for the past five weeks. On the daily chart, the stock has broken above the 10, 20, and 50-day EMAs, with the 10-day EMA crossing above the 20-day—a bullish momentum shift. A bounce-back rally toward ₹1,200, the 50% retracement of the downtrend, looks likely. Dips toward ₹980 can be used as buying opportunities for a short-term upmove,” said Jain.

Disclaimer: The views and recommendations made above are those of individual analysts or broking companies, and not of Mint. We advise investors to check with certified experts before making any investment decisions.