DIIs Bought 2,19,405 Shares & FIIs Bought 1,92,485 Shares: Defence Company Bags New Order Worth Rs 61,43,00,000 From IRDE; Ministry of Defence

Kiran Shroff
/ Categories: Trending, Mindshare
DIIs Bought 2,19,405 Shares & FIIs Bought 1,92,485 Shares: Defence Company Bags New Order Worth Rs 61,43,00,000 From IRDE; Ministry of Defence

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.

Paras Defence and Space Technologies Limited has secured a significant order worth approximately Rs 61.43 crore (inclusive of taxes) from the Instruments Research and Development Establishment (IRDE), a part of the Ministry of Defence, Government of India. This order pertains to the upgrade of Optronic Periscope Sight with Accessories, including an ESM Warner, for Indian Naval Submarine applications. The contract is domestic in nature and is expected to be executed within a 12-month timeframe.

Earlier, Paras Defence and Space Technologies Limited had received an order from Opto Electronics Factory (OLF), a unit of India Optel Ltd., a Government of India Enterprise under the Ministry of Defence, Dehradun. This order, valued at approximately Rs 42.05 crore (plus taxes), was for the supply of 5 types of Electronic Control Sub-Systems used in Thermal Imaging Fire Control Systems (TIFCS) delivered by OLF to the Indian Armed Forces. The order was domestic in nature and was expected to be executed within 24 months.

On Thursday, shares of Paras Defence and Space Technologies Ltd plunged 1.47 per cent to Rs 1,057.40 per share from its previous closing of Rs 1,073.20 per share. The stock’s 52-week high is Rs 1,592.75 and its 52-week low is Rs 608.75.

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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.

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 4,260 crore with 1-year stock price CAGR of 96 per cent. The stock is up by 74 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. 

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