Shares of Paras Defence and Space Technologies Ltd surged 6% on Friday, 12 September after the company announced securing an order worth Rs 26.6 crore. 

In its regulatory filing, the company said that they have secured orders from the state-owned Opto Electronics Factory (OLF), a unit of India Optel Ltd, a government entity under the Defence Ministry.

The deal will be executed between December 2025 and September 2026, according to a stock exchange filing by Paras Defence.

The order is for the delivery of Electronic Control Systems utilized in the Thermal Imaging Fire Control System (TIFCS) for combat tank applications, which Opto Electronics Factory will provide to the Indian Armed Forces, according to the business.

The entire value of contracts for the delivery of Electronic Control Systems in TIFCS has increased to around Rs 141.63 crore, including taxes, due to incremental orders.

The original orders were approximately Rs 115.03 crore, including additional quantities of important components like the Control Panel for Ballistic Computer, Ballistic Computer, and Gun Positioning System.

Opto Electronics Factory, a subdivision of India Optel Ltd, is a state-owned defence company based in Dehradun.

Paras Defence confirmed that the orders were issued by a domestic company and stated that the promoter group and connected parties have no stake in OLF. The contract is not considered a related party transaction.

Earlier, in August, Navi Mumbai-based Paras Defence received a Rs 45.32 crore order from Bharat Electronics (BEL) to offer signal and data processing systems, as well as multi-sensor fusion systems.

Furthermore, in August, the business signed into a collaboration deal with Germany’s High Performance Space Structure Systems GmbH to work on defense and space projects in India.

At 2:44 pm, the shares of Paras Defence were trading 5.12% higher at Rs 687.50 on NSE.

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