India's Paras Defence extends gains on $2.57 million deal with French firm

Paras Defence and Space Technologies

02/07/2025 08:14

** India's Paras Defence and Space Technologies PRAF.NS jumps 4.6% to 1,702 rupees, takes two-day gains to 6.5%

** Subsidiary secures deal worth 220 million rupees  ($2.57 million) from France-based CERBAIR to supply high-end counter unmanned aerial system (UAS) technology CHIMERA 200

** "CHIMERA 200 set to play pivotal role in India's defence export ambitions," co says after CERBAIR deal

** YTD, PRAF up ~69% as geopolitical tensions across several regions are aiding demand for defence equipment; Nifty India Defence index .NIFTYINDDEFENCE up 36% YTD

** Since April, company insiders and promoters have trimmed their stake in PRAF by 4.5%, NSE data shows

    ($1 = 85.7240 Indian rupees)

(Reporting by Vivek Kumar M)

((VivekKumar.M@thomsonreuters.com;))