Paras Defence signs MoU with MicroCon Vision; details here

Paras Defence and Space Technologies Ltd on Wednesday entered into a memorandum of understanding (MoU) with MicroCon Vision Ltd (MicroCon), part of CONTROP and the Rafael Group, Israel.

"With reference to the captioned subject matter, we are pleased to inform that M/s. Paras Defence and Space Technologies Ltd has signed a Memorandum of Understanding (MoU) with MicroCon Vision Ltd (MicroCon), part of CONTROP and the Rafael Group, Israel. MicroCon has experience and expertise in the design, development, production and marketing of ISR (Intelligence, Surveillance and Reconnaissance) payloads and EO/IR (Electro-Optical/Infra-Red) Seekers for Drones and Unmanned Aerial Vehicles," the defence firm stated in a BSE filing.

PARAS and MicroCon will be exclusive partners in India for working together on the Micro ISR payloads, it added.

On the stock-specific front, Paras Defence shares were last seen trading 1.02 per cent lower at Rs 967.35. At this price, the stock has slipped 11.75 per cent in six months.

Technically, the counter traded lower than the 5-day, 10-, 100-, 150-day and 200-day simple moving averages (SMAs) but higher than 20-day, 30-day and 50-day SMAs. Its 14-day relative strength index (RSI) came at 52.78. A level below 30 is defined as oversold while a value above 70 is considered overbought.

The company's stock has a price-to-equity (P/E) ratio of 66.72 against a price-to-book (P/B) value of 8.15. Earnings per share (EPS) stood at 14.48 with a return on equity (RoE) of 12.22. According to Trendlyne data, Paras Defence has a one-year beta of 1.4, indicating high volatility.

Paras Defence is primarily engaged in the designing, developing, manufacturing and testing of various defence and space engineering products. It has five major product category offerings in defence and space optics, defence electronics, heavy engineering, electromagnetic pulse protection solutions and niche technologies. As of December 2024, promoters held a 57.05 per cent stake in the company, 1.89 per cent lower than the previous quarter.