Paras Defense and Space Technologies Limited announced it has been granted an industrial license by India’s Department for Promotion of Industry & Internal Trade.
The license allows the company to manufacture a range of advanced military and surveillance equipment, including thermal imaging systems, electro-optics, radar sub-systems, and border security technologies. The production facility will be located in Navi Mumbai, Maharashtra.
The shares of Paras Defense and Space Technologies Limited were trading at ₹1,294.55, up by ₹61.60 or 5.00 per cent today on the NSE at 2:40 pm.
The license is valid for 15 years and covers seven categories of high-tech defense products. This development enables Paras Defense to expand its manufacturing capabilities in the defense sector.
