Paras Defence and Space Technologies jumped 7.78% to Rs 1045 after the company announced the grant of license under the Arms Act, 1959.
This license authorizes the company to manufacture MK-46 and MK-48 belt-fed light machine gun (LMG) modernised enhanced and redefined LMG with a proposed annual capacity of 6000 units each.
The said license has been issued by the Department for Promotion of Industry & Internal Trade, Ministry of Commerce & Industry, Government of India (GoI).
Paras Defence and Space Technologies offers high precision products and turnkey solutions to the defense and space sector, operating in three main verticals defence and space optics, defence electronics solutions, and heavy engineering.
The company had reported 47.13% rise in consolidated net profit to Rs 13.86 crore on a 42.05% increase in sales to Rs 87.09 crore in Q2 FY25 over Q2 FY24.
Powered by Capital Market - Live News
Disclaimer: No Business Standard Journalist was involved in creation of this content
You’ve reached your limit of {{free_limit}} free articles this month.
Subscribe now for unlimited access.
Already subscribed? Log in
Subscribe to read the full story →
Smart Quarterly
₹900
3 Months
₹300/Month
Smart Essential
₹2,700
1 Year
₹225/Month
Super Saver
₹3,900
2 Years
₹162/Month
Renews automatically, cancel anytime
Here’s what’s included in our digital subscription plans
Exclusive premium stories online
Over 30 premium stories daily, handpicked by our editors
Complimentary Access to The New York Times
News, Games, Cooking, Audio, Wirecutter & The Athletic
Business Standard Epaper
Digital replica of our daily newspaper — with options to read, save, and share
Curated Newsletters
Insights on markets, finance, politics, tech, and more delivered to your inbox
Market Analysis & Investment Insights
In-depth market analysis & insights with access to The Smart Investor
Archives
Repository of articles and publications dating back to 1997
Ad-free Reading
Uninterrupted reading experience with no advertisements
Seamless Access Across All Devices
Access Business Standard across devices — mobile, tablet, or PC, via web or app