Paras Defence and Space Technologies shares hit a fresh 52-week high of ₹1,527.30 on Tuesday, surging 10% on heavy trading volumes.

The stock has been on an extraordinary run lately. Over just the past month, it’s climbed nearly 30%, while the broader Sensex has actually slipped during the same period.

Zoom out further and the numbers get even more dramatic. Since touching a 52-week low of ₹580 back on 23 March this year, the stock has bounced a massive 163%.

Trading activity around the counter has been unusually heavy too. Combined volumes across NSE and BSE crossed 5.4 million shares by the afternoon session, several times the stock’s typical daily turnover.

Buy orders were piling up as well, a sign of strong investor appetite for the stock right now. Paras Defence works across two main business areas.

One is Optics and Optronic Systems, and the other is Defence Engineering, which covers defence electronics, electromagnetic pulse protection and heavy engineering work.

The company is also the only one in India developing and manufacturing optronic periscopes used in submarines, a niche it holds across the entire Asia-Pacific region.

Adding to the momentum, the company’s semiconductor arm signed an agreement with the Madhya Pradesh government back in July to set up a semiconductor packaging facility in the state, backed by a proposed investment of ₹6,200 crore.

The broader backdrop helps too. India’s defence budget for the current financial year stands at ₹7.85 trillion, with a large chunk of the capital acquisition budget reserved specifically for domestic defence manufacturers.

That kind of policy push tends to benefit companies like Paras Defence directly. The stock closed at ₹1,527.30 on the NSE on Tuesday, up 10% for the day and marking its second straight session of strong gains.

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