Paras Defence and Space Technologies Ltd signed a Memorandum of Understanding with Green Optics Co., Ltd. of South Korea on Wednesday, March 4, 2026, aimed at joint development and manufacture of optics and optical systems for space and defence applications. The announcement sent the stock surging 9.65 per cent, trading at ₹735.60 as of 10.13 am, against a previous close of ₹670.85, touching an intraday high of ₹749.85.
Green Optics Co., Ltd. is a South Korean firm engaged in the design and manufacture of optics and optical systems for space, defence, and related sectors. Under the MoU, the two companies intend to establish a framework for joint development, manufacturing, and business development across their respective regions.
Paras Defence, headquartered in Navi Mumbai, operates in the defence optics and space technology segment. The company has R&D facilities in Bengaluru and manufacturing operations in Ambernath, Thane.
Published on March 4, 2026