New Space India Ltd signs LOI for transfer of technology to Paras Defence

New Space India Limited, Central Public Sector Enterprise under the administrative control of Department of Space (DOS), Government-of India has executed 'Letter of Intent' (LOI) dated June 27, 2022 with Paras Defence and Space Technologies Limited for handing over the technology of "Optical Imaging System" as developed by Indian Space Research Organization (ISRO).

This technology will be transferred by way of Technology Transfer Agreement (hereinafter referred as 'the agreement') for development, manufacturing, and sale of Optical Imaging System in India and abroad. The draft of the agreement has been handed over by NSIL to Paras. The Company shall inform about the execution of the agreement to it's stakeholders, upon finalization of the commercials for the ToT.

Shares of Paras Defence and Space Technologies Ltd was last trading in BSE at Rs. 580.25 as compared to the previous close of Rs. 557.30. The total number of shares traded during the day was 8724 in over 949 trades.

The stock hit an intraday high of Rs. 601.60 and intraday low of 563.40. The net turnover during the day was Rs. 4990143.00.

Source : Equity Bulls

Keywords

ParasDefenceandSpaceTechnologies Defence INE045601015 NewSpaceIndia LOI TransferofTechnology OpticalImagingSystem ISRO