This small-cap company receives order worth Rs 53 crore from Ministry of Defence!
On Friday, the shares of Paras Defence and Space Technologies jumped by 5.18 per cent.
Paras Defence and Space Technologies (PDST) is a private sector company specialising in the design, development, manufacturing and testing of a wide range of defence and space engineering products and solutions. The company operates in four key segments: defence & space optics, defence electronics, heavy engineering and electromagnetic pulse protection solutions.
On June 15, 2023, Paras Defence and Space Technologies Ltd announced that it has been awarded a contract by Instrument Research & Development Establishment (IRDE), a division of the Ministry of Defence, DRDO, Government of India, for the realisation of Optronic Periscopes. The contract includes installation support and is valued at around 53 crore. The delivery of the periscopes is scheduled to be completed partially in FY24, with the remaining balance expected to be fulfilled by FY25 or earlier.
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On Friday, the shares of Paras Defence and Space Technologies jumped by 5.18 per cent and made an intraday high of Rs 586.
The company has 3-year sales growth of 14 per cent (CAGR) and profit growth of 22 per cent (CAGR) for the last 3 years.
Investors should keep a close eye on this trending stock.