Paras Defence extends rally post strong debut; zooms 246% over issue price

The company's capital structure, liquidity position and coverage metrics strengthen post the equity infusion of Rs 140 crore through the recent IPO in September 2021, ICRA said

Shares of Paras Defence and Space Technologies (PDSTL) continued their upward movement as they hit 5 per cent for the fourth straight day on Thursday. The shares hit a high of Rs 606.10 on the BSE today, building on gains logged on debut day (October 1, 2021).

Till 02:01 pm, a combined 140,996 equity share had changed hands and there were pending buy orders for 950,000 shares on the NSE and BSE.

With the past four days' rally, the stock price of PDSTL has zoomed 246 per cent as against its issue price of Rs 175 per share.