Paras Defence and Space Technologies Ltd to form JV with Israel firm

Paras Defence and Space Technologies Limited ('Paras') has entered into an MOU (Memorandum of Understanding) on March 14, 2023 with CONTROP Precision Technologies Ltd, ('CONTROP'), Israel with an intent to create new opportunities and expand both parties' business in the Indian and Global Defence sector. To support the MOU objectives, the parties intend to form a Joint Venture Company ('JV') in India for manufacturing Electro-Optic Systems for various applications, all in accordance with the Government of India's Make in India initiative.

Shares of Paras Defence and Space Technologies Ltd was last trading in BSE at Rs. 480.50 as compared to the previous close of Rs. 471.30. The total number of shares traded during the day was 120197 in over 6634 trades.

The stock hit an intraday high of Rs. 509.00 and intraday low of 456.25. The net turnover during the day was Rs. 58169792.00.

Source : Equity Bulls

Keywords

ParasDefenceandSpaceTechnologies Defence INE045601015 MoU CONTROPPrecisionTechnologies Israel JVCompany JointVenture India