By Admin 
Paras Defense Share Price surge: In West Asia, there is a fierce war between Iran and Israel, due to which there is a lot of turmoil in the global market including the Indian market. At the same time, a tremendous rise was seen in the shares of a defense company on Wednesday, March 4. Share prices had jumped by 10 percent during the day’s trading.
In the fourth session, the company shares were running like a rocket and jumped by more than 12 percent. We are talking about Paras Defense and Space Technologies Limited. Company shares are at a gallop on the day of Holi. Let us know, what is the reason behind this rise?
Why did shares run like a rocket?
Taking steps towards expanding the scope of its work in the space and defense sector, the company has signed a Memorandum of Understanding (MoU) with Green Optics of South Korea. The news of this agreement encouraged investors to buy. This deal is aimed at exploring joint opportunities in the field of optics and optical systems for space and defense applications.
Giving information about this agreement, the company said that Green Optics works in the design and manufacturing of optics and optical systems for space, defense and other sectors. With this partnership, both the companies will explore possibilities of technical cooperation and new projects.
Support received from the environment of West Asia
Defense companies are often expected to benefit from the uncertainty created by war. In such circumstances the chances of getting new orders increase. Amidst geopolitical tension, investors are also attracted towards defense companies. Experts are also talking about the prolongation of this dispute between Iran and Israel. This could also be a reason for the rise in company shares.
Company’s performance in stock market
At the end of the trading day on March 4, the shares closed trading on the green mark on BSE. Company shares closed at Rs 719.80 with a rise of 6.44 percent or Rs 43.55. The intraday high of the day was Rs 750. Talking about the 52-week high level of company shares, during this period the shares had touched the figure of Rs 971.80. At the same time, the low level of 52 weeks is Rs 401.
Disclaimer: (The information provided here is being given for information only. It is important to mention here that investment in the market is subject to market risks. Always take expert advice before investing money as an investor. ABPLive.com never advises anyone to invest money here.)
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