Paras Defence and Space Technologies share price rose 2 percent in the early trade on October 14 following the company signed a Memorandum of Understanding (MoU) with Cielo Inertial Solutions, Israel.
The company with CIELO will combine their respective capabilities in order to promote and pursue opportunities in India for the adaptation, marketing, sale and production of Inertial Sensors and Closed Loop FOG based Inertial Solutions.
CIELO is a global technology expert in inertial solutions and an Israeli manufacturer of Closed Loop FOGs, IMUs, GyroCompass, North Finding Systems and INS.
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Earlier in this month, company subsidiary Paras Anti-Drone Technologies received an order from Ministry of Defence, Government of India valued at approximately Rs 46.19 crore (incl GST) for Anti-Drone Systems such as Drone Jammers.
Also in last month, company received an international order from Elbit Security Systems, Israel valued at approximately 3.8 million USD (Rs 34 crore) for ElectroOptics.
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