India's Paras Defence gains on order win

Paras Defence and Space Technologies

16/08/2024 07:09

** Shares of Paras Defence and Space Technologies  PRAF.NS 
rise 5% to 1,208.35 rupees apiece
    ** Company's unit secures order worth 3.05 billion rupees
(about $36 million) from Larsen and Toubro  LART.NS 
    ** Order for manufacturing and supply of 244 electro optics
systems 
    ** Order to be executed within 47 months, PRAF says 
    ** LART shares trading little changed on the day
    ** PRAF, LART shares up 68% and 1%, respectively, in 2024 so
far, compared to 12% rise in Nifty 50 index  .NSEI  

($1 = 83.9500 Indian rupees)

 (Reporting by Bharath Rajeswaran in Bengaluru)
 ((bharath.rajeswaran@thomsonreuters.com; +91 9769003463;))