Introduction:
Leading defence manufacturer has received a license under the Arms Act, 1959, to produce MK-46 and MK-48 Belt-fed Light Machine Guns. The approval enables the company to manufacture up to 6,000 units annually, strengthening its market position.
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Share price movement of Paras Defence:
On January 7, 2025, Paras Defence and Space Technologies Limited opened at ₹960.65, down 6.79% from its previous close of ₹969.55. The stock reached a high of ₹1,066.50 (9.97%) and a low of ₹960.65. By 10:11 AM, it traded at ₹1,035.40, a 6.79% increase, with a market cap of ₹4,172.01 crore.
Paras Defence Secures License for LMGs:
Paras Defence and Space Technologies Limited has received a license under the Arms Act, 1959, from the Department for Promotion of Industry & Internal Trade. This license allows the company to manufacture MK-46 and MK-48 Belt-fed Light Machine Guns (LMGs).
The license grants Paras Defence the authority to produce up to 6,000 units annually of each machine gun model. This milestone is expected to enhance the company’s position in the defence sector and contribute significantly to its production capabilities.
The license, which is valid for a lifetime, will bolster Paras Defence’s manufacturing capabilities and expand its offerings in the modern defence industry. The approval is a significant step towards strengthening the company’s growth and market presence in defence technology.
Recent news on Paras Defence:
As of October 30, 2024, Paras Defence and Space Technologies announced receiving orders worth ₹42.05 crore for supplying Electronic Control Sub-Systems for Thermal Imaging Fire Control Systems. The order, from OLF, is to be executed within 24 months.
Stock performance of Paras Defence for Period of 1 week, 6 months and 1 year:
Paras Defence and Space Technologies has seen a decline of 3.87% over the past week and 35.6% over the last six months. However, the stock has delivered a positive return of 26.1% over the past year, reflecting long-term growth potential.
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Shareholding pattern of Paras Defence:
| All values in % | Sep 2024 | Jun 2024 | Mar 2024 |
| Promoter | 58.90% | 58.90% | 58.90% |
| FII | 3.50% | 3.00% | 0.10% |
| DII | 0.60% | 0.10% | 2.80% |
| Public | 37.00% | 38.00% | 38.20% |
About Paras Defence:
Paras Defence and Space Technologies (NSE: PARAS) is a leading private sector company in defence and space, specializing in optics, electronics, electromagnetic pulse protection, and heavy engineering, offering vital components for space applications and defense solutions.
Disclaimer: The above article is written for educational purposes, and the companies’ data mentioned in the article may change with respect to time The securities quoted are exemplary and are not recommendatory.
