Shares of Paras Defence and Area Applied sciences Ltd. surged over 9% on the NSE on Tuesday, monitoring positive factors within the broader defence sector and forward of a key board assembly scheduled later this week.
The corporate’s board is ready to satisfy on Wednesday to think about a inventory cut up, approve audited monetary outcomes for the fourth quarter and the complete fiscal 2025, and doubtlessly declare a closing dividend. Whereas the agenda consists of the inventory cut up proposal, the corporate has not but disclosed the proposed ratio, as per its regulatory submitting.
The rally in Paras Defence shares was additionally supported by a broader rebound in defence shares, which emerged as the highest gainers on Tuesday after dealing with profit-booking stress final week. Paras Defence was among the many prime three performers within the section.
In a key growth earlier this yr, on January 7, the corporate introduced that it had obtained a lifetime-validity manufacturing licence from the Division for Promotion of Business and Inside Commerce to provide MK46 and MK48 belt-fed gentle machine weapons, with an annual manufacturing capability of 6,000 models every.
Paras Defence Share Worth Information
The scrip rose as a lot as 9.28% to Rs 1,249.90 apiece, the best stage since Sept. 6, 2024. It pared positive factors to commerce 8.58% larger at Rs 1,241.90 apiece, as of 11:58 a.m. This compares to a 0.04% advance within the NSE Nifty 50 Index.
It has risen 22.86% on a year-to-date foundation, and 70.14% within the final 12 months. Whole traded quantity to this point within the day stood at 8.05 occasions its 30-day common. The relative energy index was at 51.98.
One analyst monitoring the corporate maintains a ‘purchase’ score, in response to Bloomberg knowledge. The common 12-month consensus worth goal implies an upside of 6.6%.
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