Paras Defence leads defence sector rally with 10% surge on export momentum 

Shares of Paras Defence and Space Technologies Limited jumped nearly 10 per cent in early trading today, reaching ₹933.60, emerging as the top performer in the defence sector today as investors responded positively to the company’s recent export breakthrough and broader sector tailwinds.

The stock jumped ₹84.80 or 9.99 per cent from the previous close, leading the NIFTY Defence index which gained 1.52 per cent to 8,991.35 points. Paras Defence recorded strong trading volumes of 33.59 lakh shares worth ₹308.79 crore, making it the most active stock by percentage gains in the defence basket.

The rally follows the company’s announcement on July 1 of a ₹22 crore export deal with France-based CERBAIR for up to 30 units of its CHIMERA 200 counter-drone systems. This marks a significant milestone for Paras Defence’s international expansion and validates India’s growing capabilities in sophisticated defence manufacturing.

The broader defence sector received a major boost from the Defence Acquisition Council’s approval of capital acquisition proposals worth ₹1.05 trillion under the Indigenously Designed, Developed and Manufactured (IDDM) category. The approvals cover advanced platforms, including armoured recovery vehicles, electronic warfare systems, surface-to-air missile systems and naval mine countermeasure vessels.

Key beneficiaries of the defence procurement drive include Bharat Dynamics, Bharat Electronics, Cochin Shipyard, Mazagon Dock Shipbuilders and Garden Reach Shipbuilders, with Paras Defence positioned to benefit from the electronic warfare and counter-drone segments.

Additionally, BEML gained 3.30 per cent after the Indian Army released a Request for Information for approximately 400 High Mobility Reconnaissance Vehicles under the Make in India program, further strengthening sector sentiment.

The CHIMERA 200 system, which secured the French contract, offers wideband detection and neutralisation capabilities across 400 MHz to 6 GHz frequencies. The field-proven technology has been deployed across India’s critical infrastructure and represents the country’s technological advancement in counter-UAV systems.

Ashutosh Baheti, CEO of Paras Anti Drone Technologies, highlighted the deal as proof of India’s growing stature in advanced anti-drone technologies. The export aligns with India’s ambitious target of achieving $5 billion in annual defence exports by 2025, positioning Paras Defence as a key contributor to this national objective.

Published on July 4, 2025