Shares of Paras Defence and Space Technologies Ltd. surged by 5% on Thursday, reaching an upper circuit limit of ₹1,293.3 per share on the BSE, following a significant industrial license acquisition. The license, granted by the Department for Promotion of Industry and Internal Trade (DPIIT) under the Ministry of Commerce and Industry, authorizes the company to establish an industrial facility in Navi Mumbai, Maharashtra, with a validity of 15 years.

This license enables Paras Defence to manufacture a diverse array of high-tech products, including infrared and thermal imaging equipment, electro-optics systems, radar system components, border security surveillance systems, and advanced computer-based control and monitoring platforms.

Additionally, on August 14, Paras Defence announced that its associate company, Controp-Paras Technologies Private Limited, secured a substantial order worth ₹305 Crore (excluding taxes) from Larsen and Toubro Limited (L&T). This order further cements the company’s strategic positioning within the defense and space technology sectors.