Paras Defense and Space Technologies Ltd. shares experienced a significant surge on June 18, 2024, reaching a new 52-week high of ₹1373.80 on the BSE.
This surge was primarily triggered by a block deal of 3.29 lakh shares, indicating strong investor interest in the company.
Paras Defense Share Price, NSE: PARAS
Currently trading around ₹ 1,362.65 as of June 18, 2024. 11: 50 AM
Short-Term Performance (as of June 18, 2024):
- 1 Day: Up 17.78%
- 5 Days: Up 51.57%
- 1 Month: Up 74.09%
Long-Term Performance:
- 3 Months (YTD): Up 80.33%
- 6 Months: Up 82.44%
- 1 Year: Up 121.91%
Several factors contributed to Paras Defense surge:
Block Deal: A significant block deal involving 1.8% of the company’s equity was executed on the stock exchanges, boosting investor confidence.
Positive Market Sentiment: The overall market sentiment towards defense stocks has been positive due to increased government spending on defense and space programs.
Strong Fundamentals: Paras Defense and Space Technologies Ltd. has a strong product portfolio and technological capabilities, positioning it well to capitalize on the growing demand in the defense and space sectors.
Company’s Growth Potential: The company has demonstrated consistent growth in recent years, further fueling investor interest.