India's Paras Defence jumps most in nearly two weeks on order win

Paras Defence and Space Technologies

16/06/2023 05:30

** Shares of Paras Defence and Space Technologies  PRAF.NS 
rise as much as 3.2% to 573 rupees, best day since June 5 if
gains hold
    ** Co won contract for Realization of Optronic Periscopes
from Instrument Research & Development Establishment, Govt. of
India
    ** Order worth around 530 mln rupees ($6.46 million)
    ** More than 150,700 shares change hands by 09:40 a.m. IST
vs 30-day avg of 339,270 shares
    ** PRAF trading above its moving average convergence
divergence line (MACD), indicating bullish sentiment
    ** Stock hit highest since June 8
    ** Stock down 7.7% YTD up to last close



($1 = 81.9850 Indian rupees)

 (Reporting by Ashna Teresa Britto in Bengaluru)
 ((AshnaTeresa.Britto@thomsonreuters.com ; ( +91 8078332441))