Paras Defence shares in focus after MoU with Israel’s HevenDrones to set up JV for defence logistics drones
[hfe_template id='11223']
[ad_1]
Paras Defence and Space Technologies shares will be in focus on Tuesday after the company announced it has signed a Memorandum of Understanding (MoU) with Israel-based HevenDrones to explore opportunities in the defence and civil drone markets. "We are pleased to inform you that Paras Defence and Space Technologies Limited (‘PARAS’) has entered into an MOU (Memorandum of Understanding) on May 05, 2025 with Hevendrones Ltd., (‘HD’), Israel with an intent to create new opportunities and expand both parties' business in the Indian and Global Defence sector," the company said in a regulatory filing. As part of the agreement, both companies plan to establish a joint venture in India to develop and manufacture logistics and cargo drones. The initiative aligns with the Indian government's ‘Make in India’ programme and aims to serve domestic and international markets. This marks Paras Defence’s second partnership with an Israeli...