New Delhi, Dec. 26 -- Paras Defence share price surged as much as 4% to Rs.698.20 apiece in Friday's trading session after the defence company announced divestment of its stake in its subsidiary company Ayatti Innovative. The stake divestment is expected to trigger short-term volatility in Paras Defence's share price.

In an exchange filing, Paras Defence said that the company had proposed to divest its 58.02% equity stake in Ayatti Innovative, comprising 15,20,000 equity shares of face value of Rs.10 each.

"In continuation of our earlier intimation dated March 28, 2025, we wish to inform you about the status of the proposed divestment of the Company's equity stake in its subsidiary, Ayatti Innovative Private Limited ("Ayatti")," the com...