Shares of Paras Defence and Space Technologies Ltd rose as much as 8% on the NSE in early trade on Monday, tracking gains in the broader defence sector and ahead of its board meeting this week.
The company is scheduled to consider a stock split at its board meeting on Wednesday, alongside the approval of its audited financial results for the fourth quarter and financial year 2025 and a potential final dividend. The company, however, has not disclosed the proposed ratio for the stock split yet, according to its regulatory filing on Friday.
The stock's momentum was also supported by a sector-wide rebound. Defence stocks, which saw profit-booking pressure last week, were advancing on Monday as buying interest returned. Nifty Defence was the top sectoral gainer in early trade on Monday, with Paras Defence among the top three gainers.
Earlier this year, on January 7, Paras Defence announced it had received a lifetime-validity manufacturing licence from the Department for Promotion of Industry and Internal Trade, allowing it to produce the MK46 and MK48 belt-fed light machine guns, with a proposed annual capacity of 6,000 units each.
Paras Defence Share Price Today
Paras Defence stock rose as much as 8.03% during the day to Rs 1129 apiece on the NSE. It was trading 6.19% higher/lower at Rs 1109.8 apiece, compared to a 0.89% advance/decline in the benchmark Nifty 50 as of 10:35 a.m. and a 3.71% advance in Nifty Defence.
It has risen 52.19% in the last 12 months and 9.46% on a year-to-date basis. The total traded volume so far in the day stood at 6.1 times its 30-day average. The relative strength index was at 65.15.
According to Bloomberg data, the one analyst tracking the stock at Nirmal Bang maintains a ‘buy' rating with a target price of Rs 1,329.
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