Shares of this small-cap company zoomed over 4 per cent after signing an MoU!

The stock is up by 12.49 per cent in just one month.

Today, shares of Paras Defence and Space Technologies ended the day in green, up 1.72 per cent to Rs 527 per share with an intraday high of Rs 535.45 and an intraday low of Rs 525. The shares of the company saw a spurt in volume by more than 2.27 times on BSE. 

Paras Anti-drone Technologies Private Limited (a subsidiary of Paras Defence and Space Technologies Limited) has entered into a Memorandum of Understanding (MoU) with Spacekawa Explorations Private Limited (Kawa Space) for indigenous developments and deployment of Space intelligence, surveillance and reconnaissance (ISR) payloads which will include RF Wideband Software-defined Radio (SDRs). 

Further, by signing this MOU, Paras Anti-drone Technologies Private Limited and Spacekawa Explorations Private Limited (Kawa Space) intend to develop and advance technologies for Space Applications that can address the challenges of a rapidly changing world. 

Paras Defence and Space Technologies (PDST) is a private sector company primarily engaged in the designing, developing, manufacturing, and testing of a variety of defence and space engineering products and solutions.  

This aerospace and defence company has a market cap of Rs 2,055.30 crore. The company reported positive numbers in its Quarterly Results and annual results. 

The stock is up by 12.49 per cent in just one month. Investors should keep an eye on this Small-Cap stock.