During an extremely prestigious ToT (Transfer of Technology) event held today (April 7, 2022) Paras Defence and Space Technologies Limited, has been awarded the Technology of Optronic Submarine Periscope as developed by IRDE, DRDO, by Hon. Defence Minister Shri. Rajnath Singh.
This ToT for Submarine Periscope can be considered as one of the most critical Naval Technology and hence can be a very big step in the direction of Atmanirbhar Bharat for Defence Technologies. DRDO has always inspired the Indian Defence Industry, and such events and ToT hand-over further indicates a strong commitment by DRDO to work with the Indian Industry as Development Partners.
This technology has been transferred to the Company by way of a Licensing Agreement for Transfer of Technology of Optronic Submarine Periscope by IRDE, DRDO. The DRDO Laboratory has also nominated Paras Defence and Space Technologies Limited as the Production Agency for the Optronic Submarine Periscope.
The Optronic Submarine Periscope is the Eye of the Submarine and is used for Surveillance Applications.
The company has been working closely with DRDO and have a good understanding of this system. Paras Defence and Space Technologies Limited will be the first Indian Company to manufacture the Optronic Submarine Periscope on turnkey basis, which has good domestic business opportunities along with export business potential.
Shares of Paras Defence and Space Technologies Ltd was last trading in BSE at Rs. 727.75 as compared to the previous close of Rs. 682.30. The total number of shares traded during the day was 157032 in over 7495 trades.
The stock hit an intraday high of Rs. 743.50 and intraday low of 692.50. The net turnover during the day was Rs. 113843763.00.