Abu Dhabi Investment Authority bought 5,60,875 shares of this multibagger defence stock with a Rs 600 crore order book; Scrip hit 52-week high!

The stock is up by 61 per cent in just 1 week and gave multibagger returns of over 140 per cent from its 52-week low of Rs 600.20 per share.

Today, shares of Paras Defence and Space Technologies Ltd, ended the day in green, up 4.12 per cent to Rs 1,445.95 per share with an intraday high of Rs 1,527.55 and an intraday low of Rs 1,374.50. The stock also made a fresh new 52-week high of Rs 1,527.55 per share with a spurt in volume by more than 2.58 times on BSE.  

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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Recently, Abu Dhabi Investment Authority bought 5,60,875 shares or 1.44 per cent stake in this multibagger defence stock at Rs 1,120.71 per share aggregating to Rs 62.86 crore. The company has a market cap of over Rs 5,600 crore with 1-year stock price CAGR of 120 per cent. According to Quarterly Results quarterly results (Q4FY24) and annual results (FY24), the company reported positive numbers.

The company has an order book of Rs 600 crore. The stock is up by 61 per cent in just 1 week and gave multibagger returns of over 140 per cent from its 52-week low of Rs 600.20 per share. Investors should keep an eye on this Small-Cap defence stock.  

Disclaimer: The article is for informational purposes only and not investment advice