Paras Defence shares fall 6% as post-split rally stalls
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Shares of Paras Defence and Space Technologies fell as much as 6.1% on Monday to Rs 876.55 on the BSE , as investors booked profits following last week's sharp rally triggered by the company's 1:2 stock split The stock, which had surged over 8% on Friday post-adjustment, saw a reversal in sentiment even as underlying technical indicators continued to show strength. The decline comes despite bullish cues, with the stock still trading above all eight key simple moving averages (SMAs) — from the 5-day to the 200-day — and the Moving Average Convergence Divergence (MACD) remaining above both the center and signal lines.Friday's rally followed the company's stock split becoming effective on July 4, which was also the record date for the sub-division. The split, changing the face value from Rs 10 to Rs 5 per share, had been approved by shareholders via postal ballot on June 7, 2025, as disclosed in a regulatory filing under SEBI's Listing Obligations and Disclosure Requirements (Regulation 42).However, with the Relative Strength Index (RSI) at 70.7 — a level considered overbought — a near-term pullback remains likely. Paras Defence shares continue to show strong performance over broader timeframes. The stock is up 14.4% over the past year and has surged 82.4% in the last six months. In the past three months alone, it has gained 79%, including a 7% rise over the past month. Paras Defence 's market capitalisation currently stands at Rs 7,442.64 crore.
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