India's Paras Defence up about 9% after JV with Israel's Controp Precision

Paras Defence and Space Technologies

02/06/2023 05:48

** Shares of Paras Defence and Space Technologies Ltd
 PRAF.NS  rise as much as 8.73% to 543.60 rupees
    ** Co, which makes products for defence and space
applications, on Thursday said it entered into a joint venture
(JV) agreement with Israel's Controp Precision Technologies Ltd 
    ** PRAF says JV to manufacture electro-optic/infra-red
systems for various applications in accordance with the
government's Make in India initiative
    ** More than 934,000 shares change hands by 10:02 a.m. IST,
7.3x 30-day avg of 128,320 shares
    ** Stock down ~17% YTD, as of last close


 (Reporting by Ashish Chandra in Bengaluru)
 ((ashish.chandra@thomsonreuters.com (+91 7982114624))