Paras Defence shares soar 11% after MoU with Korea’s Green Optics. Check details
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Shares of Paras Defence rallied as much as 11% to a day’s high of Rs 750 on the BSE on Wednesday, after the company announced it had signed a Memorandum of Understanding (MoU) with Green Optics Co., Ltd., South Korea, to collaborate in the field of optics and optical systems. Green Optics is engaged in designing and manufacturing optics and optical systems for space, defence, and other applications. Under the MoU, Paras Defence and Green Optics plan to establish a framework for joint development, manufacturing, and business expansion in their respective regions, focusing on optics and optical systems for space and defence. The gains also come amid continued strength in defence stocks as the US-Iran conflict entered its fifth day. The Nifty India Defence index was the only sectoral index trading in positive territory on Wednesday. Paras Defence share performance The stock has risen over 6% since the beginning of the year. Over the past yea...