India's Paras Defence up as co forays into quantum communication

Solar Industries India

01/01/2024 09:58

** Shares of Paras Defence and Space Technologies  PRAF.NS  
rise as much as 5.6% to 759 rupees
    ** Co incorporates new subsidiary Quantico Technologies Pvt
    ** New unit to focus on quantum communication, a technology
theoretically impossible to hack, according to researchers
    ** More than 870,000 shares change hands by 2:56 p.m. IST,
2.5x of 30-day avg
    ** More than 800,000 shares were traded in single sessions
only twice in the last quarter
    ** Stock rose 19.5% in 2023, while rival defence-linked
companies Premier Explosives  PRMR.NS , Bharat Electronics
 BAJE.NS , MTAR Technologies  MTAR.NS  and Solar Industries
 SLIN.NS  rose 278.7%, 84.4%, 36.5% and 53.4%, respectively


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