The shares of one of India’s leading defence equipment and space technology firm gained 19%, reaching a 52-week high price of ₹1,375 after Abu Dhabi Investment Authority acquired a 1.44% stake in the company via a bulk deal.
At 11:25 a.m., Paras Defence and Space Technologies Ltd shares were trading at ₹1,355 per share, up 17.09 percent on the National Stock Exchange. The company has a market capitalization of ₹5,258 crore.
According to NSE bulk deal data, the Abu Dhabi Investment Authority (ADIA) acquired a 1.44% stake in Paras Defence and Space Technologies (PDST) through bulk deals on Friday, at an average price of ₹1,120.71 per share. Before this acquisition, ADIA did not hold any stake in the company.
Paras Defence and Space Technologies, a private sector company, is primarily engaged in the design, development, manufacturing, and testing of various defense and space engineering products and solutions.
The company expects its revenue to grow at an average rate of 25% to 30% annually. Additionally, company management anticipates order book to increase to ₹2,500 crore by the end of FY28, up from the current ₹600 crore, according to a CNBC TV18 report.
It is among the leading private sector enterprises operating within the Defence and Space segments. It has been serving the diverse requirements of the industry operating across four segments of Defence & Space Optics, Defence Electronics, Electromagnetic Pulse Protection and Heavy Engineering.
In Q4 FY24, the company’s revenue increased by 22.6% year-on-year, rising from ₹65 crore to ₹79.69 crore. However, net profit saw a slight decline of 19%, dropping from ₹11.80 crore to ₹9.60 crore during the same period.
Paras Defence shares have experienced significant growth, appreciating by 82% over the past six months and 121% over the past twelve months.
According to the latest shareholding pattern, the company’s promoter holds a 58.94% stake, Foreign Institutional Investors hold a 0.13% stake, and Domestic Institutional Investors hold a 2.75% stake.
Written by Omkar Chitnis
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