New Delhi, Sept. 26 -- Paras Defence and Space Technologies Limited ("PARAS") has made a substantial advancement in its international business strategy by securing a contract with Elbit Security Systems Limited, an Israel-based company known for its expertise in defense technologies. The order, valued at approximately $3.8 million (Rs. 34 crore), focuses on the supply of advanced Electro-Optics, a critical component in modern defense systems, it said in a stock exchange filing on 26 September, Friday.

After touching an intraday high of Rs.721 apiece, the shares of Paras Defence and Space Technologies pared some gains. At 11:40AM, the scrip traded at Rs.707, down 0.53% from its previous close on the BSE, while the Benchmark Sensex decline...