Paras Defence and Space Technologies Limited announced it has been granted an industrial licence by India’s Department for Promotion of Industry & Internal Trade.
The licence allows the company to manufacture a range of advanced military and surveillance equipment, including thermal imaging systems, electro-optics, radar sub-systems, and border security technologies. The production facility will be located in Navi Mumbai, Maharashtra.
The shares of Paras Defence and Space Technologies Limited were trading at ₹1,294.55, up by ₹61.60 or 5.00 per cent today on the NSE at 2:40 pm.
The licence is valid for 15 years and covers seven categories of high-tech defence products. This development enables Paras Defence to expand its manufacturing capabilities in the defence sector.