DIIs Bought 2,19,405 Shares & FIIs Bought 1,92,485 Shares: Defence Company Opens State-of-the-Art Optical Systems Testing Facility in Navi Mumbai
The stock is up by 60 per cent from its 52-week low of Rs 608.75 per share.
Paras Defence & Space Technologies Ltd, among India’s most progressive defence engineering companies, today opened its advanced, state-of-the-art optical systems testing facility in Navi Mumbai. The facility was inaugurated by Dr S. Somanath, Distinguished Scientist (Apex Grade) and Secretary, Department of Space (DoS), Chairman, Space Commission and Chairman, ISRO in the presence of the Company’s Managing Director Shri Munjal Shah.
The testing facility will be the most advanced center for research and development of hyperspectral and other optical systems for Space & Defence in India. With potential application areas ranging from earth observation to automobiles to homeland security to navigation and telecommunications, hyperspectral optical systems are the future of commercial space.
For perspective, the space technology market alone is pegged at over USD 1 trillion by the end of the next decade with a CAGR of 7.5 per cent. Complementing it, India’s Space policy aims to capture 10% of the global Space economy by 2030. Paras Defence’s focus on advanced optical and optronics systems is in line with the Government’s “Vision 2047” which envisages the country to be at the forefront of the global space economy and space exploration for humankind.
About the Company
Paras Defence and Space Technologies Ltd (PDST) is a leading private Indian company in the defence and space sector. They design, develop, manufacture, and test a wide range of products and solutions for these critical fields. PDST caters to four main areas: Defence & Space Optics, Defence Electronics, Heavy Engineering, and Electromagnetic Pulse (EMP) Protection Solutions. This specialization allows them to serve a diverse clientele. They supply their products to both government and private entities. Some of their government clients include prestigious organizations like the Indian Defence Force (IDF), Defence Research and Development Organisation (DRDO), Bharat Electronics Limited (BEL), Indian Space Research Organisation (ISRO), Hindustan Aeronautics Limited (HAL), and various shipyards. In the private sector, they partner with companies like Godrej, Tata Power, Larsen & Toubro, Kirloskar, TCS, and Solar Industries. Their reach extends beyond India as well, with international clients including Israel Aerospace Industries, Rafale Advanced Defence Systems, and Elbit Systems.
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In September 2024, DIIs bought 2,19,405 shares & FIIs bought 1,92,485 shares and increased their stake to 0.63 per cent and 3.46 per cent, respectively compared to June 2024. The company has a market cap of Rs 3,934 crore with 1-year stock price CAGR of 96 per cent. The stock is up by 60 per cent from its 52-week low of Rs 608.75 per share. Investors should keep an eye on this small-cap aerospace & defence stock.
Disclaimer: The article is for informational purposes only and not investment advice.