The early trading on June 2 saw a 7% increase in the share price of Paras Defence and Space Technologies as a result of the company's formation of a joint venture with an Israeli business.
Through the Make in India initiative, CONTROP Precision Technologies and Paras Defence and Space Technologies have formed a joint venture to produce, install, and provide logistical and after-sale support, among other things, in the field of electro-optic infrared technology. In the joint, CONTROP will own 70% of the shares, with the remaining 30% owned by Paras.
In comparison to the same quarter in the prior fiscal year, Paras Defene's Q4FY23 net profit increased by 4.5 percent to Rs 10.76 crore from Rs 10.30 crore. Revenue for the company increased 6.3 percent year over year to Rs 65.10 crore from Rs 61.24 crore.
At 9.21 am, the BSE's quote for Paras Defence and Space Technologies was Rs. 533.35, up Rs. 33.30 or 6.66 percent.
On September 19, 2022, the stock reached a 52-week high of Rs 811.35, and on March 28, 2023, it reached a 52-week low of Rs 447.10. It is currently 19.29 percent higher than its 52-week low and 34.26 percent lower than its 52-week high
