This Mukul Agrawal Portfolio Stock Gained Over 7.5% On Deal With Israeli Firm

The share price of Paras Defence and Space Technologies surged over 7.5% after the company’s announcement of a joint venture agreement with an Israel-based firm.

What Happened? Under the agreement, Paras Defence will collaborate with CONTROP Precision Technologies to manufacture, install, and provide logistics and after-sale support in the electro-optic infrared field, aligning with the “Make in India” initiative.

Last month, Paras Defence inked a memorandum of understanding with SAMEER, an autonomous R&D laboratory under the Ministry of Electronics and Information Technology (MeitY) for the design, development, and manufacturing of various tech, including anti-drone technology and 6G communications.

See Also: Apple Plans To Add At Least 3 More Flagship Stores In India As Part Of Its Retail Expansion Blueprint

Paras Defence, which counts Mukul Agrawal as an investor, manufactures defence electronics and space application products.

Paras will hold a 30% stake in the joint venture, while CONTROP will retain the remaining 70%.

Price Action: Paras Defence’s share price had shot up 7.73% to ₹538.60 on Friday Morning.

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