Paras Defence zooms 11% on inking MoU with South Korea's Green Optics

The buying on the counter came after Paras Defen signed an MoU with Green Optics Co., South Korea, to explore joint opportunities in optics and optical systems for space and defence applications

Paras Defence and Space Technologies shares zoomed 10.9 per cent in trade on the BSE, logging an intra-day high at ₹750 per share. The stock rose for the fourth session, up over 12 per cent. At 11:19 AM, Paras Defence’s share price was trading 7.73 per cent higher at ₹728.55. In comparison, Sensex was down 1.72 per cent at 78,860.85. 

 

The buying on the counter came after the company signed a memorandum of understanding (MoU) with Green Optics Co., South Korea, to explore joint opportunities in optics and optical systems for space and defence applications.

 

In an exchange filing under Regulation 30, Paras Defence said Green Optics is engaged in the design and manufacturing of optics and optical systems for space, defence, and other applications.

 

 

The two companies intend to establish a framework for joint development and manufacturing, as well as business development in their respective regions, for optics and optical systems catering to space and defence use-cases, Paras Defence said.

 

That apart, recently, the company had acquired a 49-per cent stake in Himanshi Thermal Solutions from DefSpace Technologies. With this, Himanshi Thermal Solutions has become an associate company of Paras Defence and Space Technologies.

 

The acquisition, according to the management, aligned with Paras Defence and Space Technologies’ strategic objective of expansion. The acquisition is  structured to deliver mutual value, unlocking new growth avenues and business opportunities across both organisations, it said. 

 

Himanshi Thermal  Solutions specialises in precision-engineered metal fabrication and advanced thermal management solutions for the aerospace and high-technology sectors. Their core expertise lies in the manufacturing of mission-critical liquid cold plates for space and airborne applications, complemented by specialised vacuum heat treatment services.

 

Himanshi Thermal Solutions also provides essential hardware for industries requiring rigorous thermal performance and exacting engineering standards, the company said in the exchange filing. 

 

Paras Defence & Space Technologies is a defence and space engineering company with a product portfolio spanning optics and optronic systems as well as defence engineering. Its defence engineering vertical includes defence electronics, EMP protection solutions, and heavy engineering, catering to a wide range of strategic applications.

 

The company works across technologies and platforms, including rockets and missiles, space and space research, naval systems, land and armoured vehicles, electronic warfare and surveillance, and electromagnetic shielding. Through its subsidiaries, Paras Defence is also present in newer domains such as drones, RF and microwave, anti-drone systems, EO/IR systems for avionics platforms, and quantum communication.