Paras Defence shares climb as subsidiary gets LoI from French anti drone leader Cerbair
Shares of Paras Defence and Space Technologies Ltd rose 2.15 per cent in Tuesday's trade to hit a high of Rs 1,635.80. Today's upmove in the share price came after the company informed the exchanges that Cerbair, France -- a leading player in anti-drone solutions -- has acknowledged the rapid advancement made by its subsidiary, Paras Anti-Drone Technologies Pvt Ltd, in the development of the CHIMERA 200 Project, which focuses on drone anti-jamming technology.
As a result, Cerbair has issued a Letter of Intent (LoI) expressing its intent to procure 30 units of the CHIMERA 200 system, valued at approximately 2.2 million euros (around Rs 22.21 crore).
"We are pleased to inform you that Cerbair, France (French leader in anti-drone solutions) has acknowledged the swift progress of Paras Anti-Drone Technologies Pvt Ltd (Paras Anti-Drone), a subsidiary of Paras Defence and Space Technologies Ltd (PARAS), in the development of CHIMERA 200 Project involving the drone anti jamming technology and has hence issued a Letter of Intent with a requirement to purchase 30 units of CHIMERA 200 from Paras Anti-Drone, valued at approximately 2.2 million euros (Rs 22.21 crore)," the defence firm stated in a BSE filing.
Bourses BSE and NSE have put the securities of Paras Defence under the long-term ASM (Additional Surveillance Measure) framework. Exchanges place stocks in short-term or long-term ASM frameworks to alert investors about high volatility in share prices.
Kranthi Bathini, Director of Equity Strategy at WealthMills Securities, believes Paras Defence may be entering a consolidation phase after its sharp rally. He advised long-term investors to hold their positions and consider accumulating the stock during dips.
The company is primarily engaged in the designing, developing, manufacturing and testing of various defence and space engineering products. It has five major product category offerings in defence and space optics, defence electronics, heavy engineering, electromagnetic pulse protection solutions and niche technologies.
As of March 2025, promoters held a 53.74 per cent stake in Paras Defence, 3.31 per cent lower than the previous quarter.
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