India's Paras Defence gains after committing $1.39 bln for project

Paras Defence and Space Technologies

23/01/2025 08:58

** Shares of Paras Defence and Space Technologies Ltd
 PARA.NS  up 4.6% at 1,080 rupees
    ** Co signs memorandum of understanding with Maharashtra
state govt for optics park project
    ** Co will invest 120 billion rupees ($1.39 billion)in
project, upon allocation of land and subsidies from the state
govt
    ** Optics park to generate around 2,000 direct jobs and set
to commence in 2028
    ** Including session gains, stock up 42% in the last 12
months 


($1 = 86.5100 Indian rupees)

 (Reporting by Ananta Agarwal in Bengaluru)
 ((Ananta.Agarwal@thomsonreuters.com))