India's Paras Defence gains 3% on signing MoU to design defence equipment

Paras Defence and Space Technologies

16/05/2023 08:40

** Shares of Paras Defence and Space Technologies Ltd
 PRAF.NS  rise as much as 3.28% to 551.35 rupees, a one-week
high
    ** Uptick after the company that designs products for
defence and space applications signs an memorandum of
understanding with the Society of Applied Microwave Electronics
Engineering Research SAMEER) urn:newsml:reuters.com:*:nFWN37D01O
    ** PRAF intends to work with SAMEER to design and
manufacture anti-drone systems, next generation communication
technologies like 6G, radars and antenna technologies among
others
    ** Trading volume is 268,500 shares as of 1:02 p.m. IST,
nearly twice the 30-day avg - Refinitiv data
    
    ($1 = 81.7800 Indian rupees)

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