Multibagger Paras Defence Shares Jump Over 9% After Stock Split
Paras Defence shares opened trading at Rs 858 apiece and then surged over 9% to as high at Rs 929.
Paras Defence & Space Technologies Ltd. share price advanced over 9% during early trade on Friday after the stock went ex-trade for its first-ever stock split.
Notably, the small-cap defence company has delivered multibagger returns to investors in the last three-to-five-year period.
The small-cap company set the ex/record date as July 4 and for share split in the ratio 1:2, wherein one share of face value of Rs 10 will be split into two Rs 5 shares.
The share price ended on the NSE at Rs 1,697.6 apiece on Thursday. The stock opened trading at Rs 858.
The company has a wide pool of retail investors. Over three lakh resident individuals holding nominal share capital up to Rs 2 lakh own 30.4% equity in the company.
Paras Defence shares advanced 9.5% intraday to Rs 929 apiece. The scrip was trading 8.5% higher by 9:40 a.m. The benchmark NSE Nifty 50 was flat.
The total traded volume so far in the day stood at 3.2 times its 30-day average. As nearly 15 lakh shares exchanged hands, the trade value surged to Rs 133 crore, as per NSE data. The relative strength index was at 62.
Paras Defence has delivered multibagger 190% returns in the last three years and 247.55% in five years.
The company's current market cap stands at Rs 7,400 crore.
