Paras Defence signs MoU with Israel's CIELO; stock gains 3%

Paras Defence and Space Technologies Ltd on Monday announced that it has signed a Memorandum of Understanding (MoU) with Cielo Inertial Solutions Ltd (CIELO), an Israel-based technology firm specialising in inertial systems.

According to a regulatory filing on Tuesday, the company stated that this collaboration aims to combine the technical expertise of both companies to promote and pursue opportunities in India for the adaptation, marketing, sales and production of Inertial Sensors and Closed Loop Fibre Optic Gyro (FOG)-based inertial solutions.

CIELO is recognised globally for its advanced inertial technologies and manufactures Closed Loop FOGs, Inertial Measurement Units (IMUs), GyroCompasses, North Finding Systems and Inertial Navigation Systems (INS). The partnership is expected to strengthen the companies' collective presence in India's defence and aerospace technology sector.

The company informed the stock exchanges that the signed MoU represents a step towards expanding its product capabilities in collaboration with a global technology partner.

Following the announcement, shares of Paras Defence rose 2.66 per cent to hit a day high of Rs 726.95 on BSE.

Paras Defence operates across five key verticals -- defence and space optics, defence electronics, heavy engineering, electromagnetic pulse protection solutions and niche technologies. The company designs, develops, manufactures and tests a wide range of products for defence and space applications.

As of the June 2025 quarter, promoters held a 53.74 per cent stake in Paras Defence.