Today morning, Paras Defence announced receipt of a new order – this is from Opto Electronics Factory (OLF), a Unit of India Optel Ltd., Govt. of India Enterprise, Ministry of Defence, Dehradun.

The order value is placed at Rs.42 crore.

This is for supply of 5 types of Electronic Control Sub-Systems used in Thermal Imaging Fire Control System (TIFCS) delivered by OLF to Indian Armed Forces.

The order is to be delivered in the within 24 months.

The stock price has reacted positively; from its previous close of Rs.960.35, it opened slightly higher at Rs.965 and rose to an intraday high at Rs.1008.35, up 5%, its UC of the day. Its 52-week high is at Rs.1592.75.