Paras Defence shares climb over 4% as anti-drone tech unit bags Rs 22 crore order from French firm
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Shares of Paras Defence and Space Technologies climbed as much as 4.5% on Wednesday to Rs 1,700 on the BSE after the company announced a fresh international order for its anti-drone system from French defence firm Cerbair In a regulatory filing on Tuesday, Paras Defence said it had received a Letter of Intent from Cerbair for the supply of 30 units of the CHIMERA 200 drone countermeasure system . The total contract value stands at Rs 22.21 crore.The order will be executed by its subsidiary, Paras Anti-Drone Technologies Pvt Ltd, which specialises in drone jamming technologies. According to the company, the CHIMERA 200 is a sophisticated anti-jamming solution designed to neutralise hostile drones by disrupting their communication and control signals.The deal marks a notable validation of India's defence technology exports , with the French firm's interest reflecting growing international confidence in the country's indigenous counter-drone solutions.Paras Defence, the parent firm, is engaged in the design, development, manufacturing, and testing of advanced defence and space engineering systems.The defence stock has been on a strong upward trajectory over the past few months. It has risen 5% in the past month, 72.6% in the last three months, and 67.7% in the last six months. On a one-year basis, the shares are up 17.6%.From a technical standpoint, the stock is currently trading above all eight of its key simple moving averages — the 5-day, 10-day, 20-day, 30-day, 50-day, 100-day, 150-day, and 200-day — signaling strength across both short-term and long-term charts.The Relative Strength Index (RSI) is at 53.4, indicating the stock is neither overbought nor oversold. Meanwhile, the Moving Average Convergence Divergence (MACD) stands at 26.9, above its center line but below its signal line.: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of the Economic Times)
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