Mumbai, October 17 (Udaipur Kiran): Shares of Paras Defence and Space Technologies edged higher on Friday after the company announced the incorporation of a new subsidiary named ‘Paras Heven Advanced Drones’, aimed at developing logistics and cargo drones for defence and civil markets.
At 11:30 AM, the stock was trading at ₹704.85, up by ₹1.65 or 0.23%, compared to its previous close of ₹703.20 on the BSE. The scrip opened at ₹700.00 and touched an intraday high of ₹710.85 and a low of ₹697.50, with around 30,419 shares traded so far.
The BSE ‘A’ group stock, with a face value of ₹5, has touched a 52-week high of ₹971.80 on May 19, 2025, and a 52-week low of ₹401.00 on April 7, 2025. Over the past week, the stock has moved between ₹726.95 and ₹692.40. The company’s market capitalization stands at ₹5,686.64 crore.
Promoters hold 53.20% of the company’s shares, while institutional investors own 7.15% and non-institutional investors hold 39.65%.
Paras Defence said the new subsidiary, incorporated on October 15, 2025, will focus on the development and production of logistics and cargo drones catering to both defence and civilian applications. The company has subscribed to 5,100 equity shares of ₹10 each, aggregating to ₹51,000, giving it a 51% controlling stake in the new entity.
Paras Defence and Space Technologies is a leading Indian company engaged in designing, developing, manufacturing, and testing a wide range of defence and space engineering products and solutions. The move into drone technology aligns with its strategy to expand in the aerospace and unmanned systems segment.
Bhupendra Singh Chundawat is a seasoned technology journalist with over 22 years of experience in the media industry. He specializes in covering the global technology landscape, with a deep focus on manufacturing trends and the geopolitical impact on tech companies. Currently serving as the Editor at Udaipur Kiran, his insights are shaped by decades of hands-on reporting and editorial leadership in the fast-evolving world of technology.