The party isn’t over for Paras Defence shareholders as the stock breaks through the ceiling five days in a row
Paras Defence & Space Technologies
- The defence equipment maker saw the best listing this year so far with 171% gains on opening ticks on October 1.
- Since then, Paras Defence and Space Technologies’s stock has hit the upper limit of 5% gain on each trading day.
- Apart from listing gains, the stock has surged 21% in five consecutive sessions.
Investor’s high hopes from the company are reflected in the constant spike in share price. The stock has gained 21% in the last five consecutive sessions after a stellar listing.
Paras made the best debut on the exchanges with 171% gains on listing. Those who got shares in the IPO nearly tripled their money within a few minutes of the listing to ₹40,375 from IPO bidding price of ₹14,875.
AdvertisementInvestors like Paras Defence more than any other sector companies because it has a diverse product portfolio. It makes stuff for defence and space optics — such as space cameras, infrared devices, diffraction gratings which help in improving image resolutions — defence electronics, electro-magnetic pulse (EMP) protection solution and heavy engineering. Besides, Paras even supplies inputs even to some of its listed peers.
Meanwhile, other defence makers failed to perform even in the last one month.
Analysts recommend investing in the stock for a long term perspective attributing to the company’s robust order book and its ability to benefit from the government’s ‘Make in India’ and ‘Atmanirbhar Bharat’ initiatives. It has a strong order book of ₹304 crore as of June 30, 2021.
|Other defence stocks||Last 1 month|
|Apollo Micro Systems||6%|
Half of the company’s ₹1,433 crore revenue at the end of March 2021 came from government projects. Another one third came from the private sector. The rest was from exports. The company had raised ₹170 crore from the IPO which it aims to invest in new equipment.
Paras Defence and Space Technologies is the top market debutants at least in 2021:
|Paras Defence & Space Technologies||171%|
|Tatva Chintan Pharma Chem||100%|
|G R Infraprojects||105%|
|Clean Science and Technology||100%|
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