Paras Defence share price rises 4% after bagging order worth ₹22 crore for anti-drone system. Do you own?
The defence stock has been trading in green, gained over 4 per cent in past five sessions. Paras Defence shares have given multibagger returns by surging over 243 per cent in five years.
In a regulatory filing on Tuesday, Paras Defence announced that it had received a Letter of Intent from Cerbair for the delivery of 30 units of the CHIMERA 200 drone countermeasure system, with the contract valued at ₹ 22.21 crore.
The order will be fulfilled by its subsidiary, Paras Anti-Drone Technologies Pvt Ltd, which focuses on drone jamming solutions. The company stated that the CHIMERA 200 is an advanced anti-jamming system capable of disabling hostile drones by interfering with their communication and control signals.
This agreement highlights a significant milestone for India's defence exports, with the French company's interest signaling increasing global trust in India's homegrown counter-drone technologies.
The company further said that the the deal worth approximately ₹ 22 crore (€2.2 million) by Paras, strengthens India's position as an emerging and reliable exporter of sophisticated defence technologies. It also aligns with the country's Make in India and Defence Production & Export Promotion Policy goals of achieving $5 billion in annual defence exports by 2025.
'Our collaboration withCERBAIR is proof of India's growing stature as trusted source of advanced anti-drone technologies. We're committed to delivering field-tested solutions that meet the world's highest standards and strengthen India's position as a global defence manufacturing hub," said Ashutosh Baheti, Chief Executive Officer, Paras Anti Drone Technologies.
Looking ahead, the CHIMERA 200 is set to play a pivotal role in India's defence export ambitions, showcasing the country's ability to deliver cutting-edge, mission-ready technologies to international partners while supporting the vision of making India a global hub for advanced defence manufacturing and innovation, the company said.
'India has moved beyond licensed manufacturing to become a global hub for the development and export of world-class technologies. By delivering field-proven, customizable solutions like the CHIMERA 200 to demanding international markets, we're demonstrating not just our technological strength but our commitment to supporting India's vision of self-reliance and leadership in defence exports," said Amit Mahajan, Director, Paras Defence and Space Technologies Ltd.
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