Shares of Paras Defence and Space Technologies Ltd. surged nearly 10% and hit a nine-month high on the NSE on Tuesday, ahead of its results.
In addition, the defence company will also consider stock split and declare its first ever dividend along with announcing its financial results for the fourth quarter and the full fiscal 2025. While the agenda includes the stock split proposal, the company has not yet disclosed the proposed ratio, as per its regulatory filing.
In a key development earlier this year, on Jan. 7, the company announced that it had received a lifetime-validity manufacturing licence from the Department for Promotion of Industry and Internal Trade to produce MK46 and MK48 belt-fed light machine guns, with an annual production capacity of 6,000 units each.
The share price rise comes in contrast to other defence companies that have declined after seeing a two-day rally.
Paras Defence Share Price Advance
Shares of Paras Defence and Space Technologies rose as much as 9.80% to Rs 1,468.95 apiece, the highest level since July 15, 2024. It pared gains to trade 3.46% higher at Rs 1,384.05 apiece, as of 9:58 a.m. This compares to a 0.12% advance in the NSE Nifty 50.
It has risen 36.78% on a year-to-date basis, and 89.84% in the last 12 months. Total traded volume so far in the day stood at 24 times its 30-day average. The relative strength index was at 61.51.
The one analyst tracking the company maintains a 'buy' rating, according to Bloomberg data. The average 12-month analysts' consensus price target implies a downside of 4.7%.
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