Paras Defence shares rise 40% in 3 days ahead of stock split, Q4 results announcement today
Live Events
Rafale-M Fighter Jet Deal
India–Pakistan Tensions
(You can now subscribe to our
(You can now subscribe to our ETMarkets WhatsApp channel
Shares of Paras Defence and Space Technologies have surged 40.5% over the past three trading sessions, hitting a high of Rs 1,469 on BSE, ahead of the company's Q4 results and stock split announcement due later today.The rally has also been fuelled by rising geopolitical tensions between India and Pakistan following the Pahalgam terror attack, and positive sentiment around the Rafale-M fighter jet deal.Paras Defence's board is scheduled to meet on April 30 to consider and approve the financial results for the quarter ended March 2025, as well as a stock split.'Pursuant to Regulation 29 and other applicable provisions of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, we hereby inform you that a meeting of the Board of Directors of the Company is scheduled to be held on Wednesday, April 30, 2025, inter alia: i. to consider and approve the sub-division/split of existing equity shares of the Company pursuant to the provisions of Section 61 of the Companies Act, 2013,' the company said in an exchange filing.The board will also consider the payment of a dividend to equity shareholders in the same meeting.According to Trendlyne data, this will mark the first time the company has proposed both a stock split and dividend for shareholders.Also read: Bajaj Finserv shares slide 6% after Q4 results fail to impress investors Defence stocks , including Paras Defence, are in focus as India and France are set to officially finalise a Rs 63,000 crore agreement for 26 Rafale-M fighter jets. Initial deliveries are expected in about three and a half years, with the full contract scheduled for completion within six and a half years.Paras Defence has also benefited from renewed buying interest amid escalating tensions between India and Pakistan after the Pahalgam terror attack last week. The April 22 attack claimed 26 civilian lives and has sparked widespread outrage in India, with growing demands for retaliation.Pakistan's Defence Minister Khawaja Muhammad Asif stated that a military incursion by India was now imminent. India has blamed Pakistan for backing the perpetrators, calling it the deadliest civilian attack in recent years.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
News18
an hour ago
- News18
MTNL bank loan default reaches Rs 8,659 crore in July
Agency: New Delhi, Aug 18 (PTI) State-run telecom firm MTNL's bank loan default stood at Rs 8,659 crore at the end of July, a regulatory filing said on Monday. The loss-making public sector telecom firm's total debt obligations reached Rs 34,577 crore as on July 31, 2025, comprising bank loans of Rs 8,659.09 crore, sovereign guarantee bond of Rs 24,071 crore and a loan for DoT for paying Sovereign Guarantee Bond interest of Rs 1,921 crore, according to the filing. MTNL has defaulted on payment obligation of Rs 3,768.37 crore to Union Bank of India, Rs 2,455.01 crore to Indian Overseas Bank, Rs 1,131.54 crore to Bank of India, Rs 478.26 crore to Punjab National Bank, Rs 363.43 crore to State Bank of India, Rs 276.08 crore to UCO Bank and Rs 186.4 crore to Punjab & Sind Bank. The default in loan payment occurred between August 2024 and February 2025. The state-run firm had reported a default of Rs 8,346.24 crore at the end of March 31, 2025. Last week, MTNL had disclosed its failure to repay the bond payment due on August 24. The state-owned telecom firm did not disclose the amount. MTNL in a regulatory filing that its fourth semi-annual interest of 7.61 per cent on MTNL Bond Series VIIIB is due on August 24. As per the structured payment mechanism of tri-partite agreement (TPA) signed among MTNL, Department of Telecommunications (DoT) and Beacon Trusteeship Ltd, MTNL has to fund the semi-annual interest into the escrow account maintained in Bank of India with an adequate amount 10 days before the due date, but it could not do so within the stipulated time. The debt-ridden telecom firm said all bonds issued by MTNL are sovereign-guaranteed bonds by the government and 'the Government of India is obliged to make the payment to MTNL for the same". PTI PRS PRS MR (This story has not been edited by News18 staff and is published from a syndicated news agency feed - PTI) view comments First Published: Disclaimer: Comments reflect users' views, not News18's. Please keep discussions respectful and constructive. Abusive, defamatory, or illegal comments will be removed. News18 may disable any comment at its discretion. By posting, you agree to our Terms of Use and Privacy Policy. Loading comments...
News18
an hour ago
- News18
Ahead of IPO, Vikram Solar raises Rs 621 cr from anchor investors
New Delhi, Aug 18 (PTI) Solar module maker Vikram Solar on Monday mobilised Rs 621 from anchor investors, a day before its initial share-sale opening for public subscription. The institutional investors who participated in the anchor round included Goldman Sachs Fund, Morgan Stanley India Investment Fund, BNP Paribas, HSBC, Citigroup, ICICI Prudential Life Company and SBI General Insurance Company, according to a circular uploaded on BSE's website. Also, UTI Mutual Fund (MF), Franklin Templeton MF, Kotak Mahindra MF, Nippon India MF and Edelweiss MF have been allotted shares in the anchor round. As per the circular, the company has allotted 1.87 crore equity shares to 43 funds at Rs 332 apiece, taking the total fundraising to Rs 621 crore. The Rs 2,079-crore initial public offering (IPO) with a price band of Rs 315 to Rs 332 per share would open for subscription during August 19 to August 21. The IPO includes fresh issues of equities worth up to Rs 1,500 crore and an offer for sale (OFS) of over 1.74 crore shares, valued at around Rs 579.37 crore at the upper end of the price band, by its promoters. Of the fresh issuance, the company plans to use the proceeds for funding capital expenditure for investment in its wholly owned subsidiary, VSL Green Power Private Ltd, for both Phase I and Phase II of the project. According to a CRISIL report, the company holds one of the largest capacities among non-captive manufacturers on the Ministry of New & Renewable Energy's approved list of module manufacturers, with 2.85 GW listed as of June 2025. Vikram Solar has two solar PV module manufacturing facilities located in West Bengal and Tamil Nadu, and a solar cell manufacturing facility with two units, in Gangaikondan, Tamil Nadu. It has established a pan-India presence, serving 19 states and two Union Territories. The company's key domestic customers include prominent government entities, such as NTPC, Neyveli Lignite Corporation, and Gujarat Industries Power Company and large private independent power producers (IPPs), like ACME Cleantech Solutions Adani Green Energy, Azure Power India, JSW Energy and Rays Power Infra, among others. In terms of financials, Vikram Solar's revenue from operations increased by 36 per cent to Rs 3,423 crore in fiscal 2025 from Rs 2,511 crore in the preceding fiscal, similarly, profit after tax rose 75 per cent to Rs 140 crore in fiscal 2025 from Rs 80 crore in fiscal 2024. JM Financial, Nuvama Wealth Management, UBS Securities, Equirus Capital and PhillipCapital are book-running lead managers, while Link Intime India is the registrar for the IPO. PTI SP HVA view comments First Published: August 18, 2025, 22:30 IST Disclaimer: Comments reflect users' views, not News18's. Please keep discussions respectful and constructive. Abusive, defamatory, or illegal comments will be removed. News18 may disable any comment at its discretion. By posting, you agree to our Terms of Use and Privacy Policy. Loading comments...
Indian Express
an hour ago
- Indian Express
Foreign liabilities of MFs rose 19.9% to $30.5 bn in 2024-25: RBI survey
Domestic mutual fund industry's foreign liabilities surged 19.9 per cent to $30.5 billion, in market value terms during financial year 2025, primarily driven by an increase in units issued to non-residents, a Reserve Bank of India survey showed. Among major countries, non-residents of the United Arab Emirates (UAE) held the largest share in mutual fund (MF) units, both in terms of face value (21.2 per cent) as well as at market value (20.2 per cent) during fiscal 2025. In face value terms, foreign liabilities in units of MFs held by non-residents of UAE increased by 32.8 per cent to Rs 3,305 crore in FY25, while in market value terms, they rose by 28 per cent to Rs 11,508 crore. The non-residents of other countries that own a large share of domestic MF units, in face value terms, include the United States of America (USA) – 11.2 per cent, the United Kingdom (UK) – 10.8, and Singapore – 6.6 per cent. The survey showed that overseas assets of MFs declined by 5.6 per cent and stood at $8.3 billion in March 2025, due to lower holdings of foreign equity securities. As a result, the net foreign liabilities of MFs increased to $22.2 billion in March 2025 from $16.6 billion a year ago. The findings are based on the RBI's survey of Foreign Liabilities and Assets of the Mutual Funds showed. The survey covered 45 Indian MFs and their Asset Management Companies (AMCs), which held or acquired foreign assets or liabilities during 2024-25 or in the preceding years. It showed that over 95 per cent of the overseas equity investment of domestic mutual funds (MFs) were concentrated in the USA (64.4 per cent), Luxembourg (19.7 per cent), and Ireland (11 per cent). Foreign liabilities of AMCs increased by 16.8 per cent and stood at $7.5 billion in March 2025, on the back of higher inward direct investment. Residents in Japan, Canada and the UK together accounted for over 83 per cent of FDI (foreign direct investment) among Indian AMCs.
