Paras Defence on Thursday said it is planning to invest Rs 12,000 crore to set up the country's first optics park in Maharashtra and signed an initial pact with the state government at the ongoing World Economic Forum in Davos. The project is expected to commence in 2028 and will continue till 2035 to ensure scalability and flexibility. The investment is set to create a technology hub for defence, space, automotive, semiconductor and other applications, the company said in a statement. It also reaffirms Paras Defence's commitment to the 'Make in India' initiative while advancing India's aspirations for technological independence in critical sectors, the company said, adding that the project is poised to generate over 2,000 direct employment opportunities. Under the planned initial pact, the Maharashtra government has pledged its support to the company in securing land, various incentives and approvals to bring the ambitious project to fruition, it stated. "This revolutionary proje
The uptick in the Paras Defence share came after the company announced that it has signed a MoU with the Maharashtra Government, for the proposed Optics Park Project in Navi Mumbai, Maharashtra
Department for Promotion of Industry & Internal Trade, Ministry of Commerce & Industry, Government of India granted license to the company for a lifetime
The Defence Acquisition Council (DAC) accorded Acceptance of Necessity for five capital acquisition proposals worth over Rs 21,772 crore.
Paras Defence, Ravindra Energy, Zaggle Prepaid Ocean Services, Oriental Rail Infrastructure, Puravankara and Veritas (India) from the BSE Smallcap index have locked in upper circuit.
Shares of Paras Defence and Space Technologies gained up to 5 per cent to hit an intraday high of Rs 1025.10 a piece on Monday
Data Patterns (India), Bharat Electronics, Mishra Dhatu Nigam, Garden Reach Shipbuilders & Engineers and Zen Technologies are up in the range of 3 per cent to 6 per cent
Aerospace and Defence firm Paras Defence and Space Technologies share price today surged up to 4.7 per cent at Rs 1,119 per share after the company bagged an order worth Rs 303 crore from L&T
The uptick in the Paras Defence stock price came after government granted industrial licence to the company for establishing an industrial undertaking for manufacturing defence products.
The uptick in the share price came after the company announced that its associate company, Controp-Paras Technologies Private Limited, has secured an order worth Rs 305 crore from L&T.