Paras Defence Secures Arms License, Boosting Manufacturing Capabilities

Paras Defence and Space Technologies has been granted a license under the Arms Act, 1959, by the Indian government. This license allows the company to design, develop, manufacture, and upgrade various cannon systems for naval and airborne applications. Following this announcement, the company's shares surged by over 5% on the Bombay Stock Exchange. The license is expected to enhance Paras Defence's position in the defense sector, enabling it to meet increasing demands for advanced military equipment.Source: Business Standard