Shares of Paras Defence and Space Technologies Ltd hit a 5% upper circuit on 25 November after the company announced the opening of its advanced and state-of-the-art optical systems testing facility in Navi Mumbai, Maharashtra.

This facility will be the most advanced centre for research and development of hyperspectral and other optical systems for defence and space in India.

The management of the company said that the company’s focus on advanced optical optronics systems is in line with India’s “Vision 2047”, which is aimed towards taking India to the forefront of the global space economy and space exploration for humankind. 

S Somanath, Distinguished Scientist and Secretary, Department of Space, Chairman, Space Commission and Chairman, ISRO, said, “With their advanced manufacturing and testing capabilities, Paras continues to deliver critical optical systems essential to ISRO’s missions. Our partnership reflects shared innovation and a commitment to self-reliance in high-tech manufacturing.”

He added that this facility not only strengthens our space exploration efforts but also broadens the applications of optical systems in other industries. Such initiatives will position the company as a global leader in optical-electronic systems, driving India’s progress in science and technology.

At 3:32 pm, the shares of Paras Defence closed 4.51% higher at Rs 1,021 on NSE.

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