Paras Defence shares in news today as firm gets licence to make products in Navi Mumbai

Shares of Paras Defence and Space Technologies are in news today after the firm said the Department for Promotion of Industry & Internal Trade (DPIIT) has granted Paras Defence an industrial licence to manufacture various defence-related products. The defence products include infrared and thermal imaging equipment, electro-optics systems, radar systems, and border security surveillance systems, which will be manufactured in an industrial undertaking in Navi Mumbai, Maharashtra.

Paras Defence stock ended 0.85% lower at Rs 1231.75 on Wednesday against the previous close of Rs 1242.35 on BSE.  Market cap of Paras Defence stood at Rs 4803.83 crore. Total 0.17 lakh shares of Paras Defence changed hands amounting to a turnover of Rs 2.08 crore.

Paras Defence shares have a one-year beta of 1.1, indicating high volatility during the period.         

In terms of technicals, the relative strength index (RSI) of Paras Defence stands at 46.1, signaling it's trading neither in the overbought nor in the oversold zone. Paras Defence shares stand higher than the 5 day, 10 day, 100 day, 150 day, 200 day but lower than the 20 day, 50 day and 30 day moving averages.

The licence is valid for 15 years.  

Obtained industrial licence for establishing an industrial undertaking for manufacturing of :

i. Infrared or Thermal Imaging Equipment: Monocular, Binoculars, Camera, Sights, Cooled Camera, Uncooled Camera, II Tube based Sights

ii. Electro-Optics Systems: Cameras, Day & Night Vision, Security Surveillance Systems,

iii. Sub-systems and Platform of Radar Systems,

iv. Modules and Control Assembly: Sub-systems for Cameras, Opto-Mech Assemblies,

v. Opto- Electronic Assemblies, Border Security Surveillance System: Infrared & Thermal Imaging, Camera, Sights, Cooled Camera, Uncooled Camera,

vi. Laser Range Finder,

vii. Integrated Platform Advance C

Paras Defence & Space is involved in design, development, manufacturing, testing & commissioning of products, systems and solutions for Defence & Space Applications.