Shares of Paras Defence and Space Technologies jumped 10.9 per cent to an intraday high of Rs 750 and were trading 7.73 per cent higher at Rs 728.55 at 11:19 AM. The counter rose for the fourth session and has gained over 12 per cent in that period. The broader market was weaker with the Sensex down 1.72 per cent at 78,860.85. The moves followed a corporate announcement.

Paras signed an MoU with Green Optics Co of South Korea to explore joint development in optics and optical systems for space and defence. The exchange filing said Green Optics designs and manufactures optics and optical systems for space, defence and other sectors. The firms intend to create a framework for joint development, manufacturing and regional business development.

Separately, Paras acquired a 49 per cent stake in Himanshi Thermal Solutions from DefSpace Technologies, making Himanshi an associate. Management said the acquisition aligned with strategic expansion objectives and was designed to unlock growth and business opportunities. Himanshi focuses on precision metal fabrication and advanced thermal management for aerospace and high technology sectors.

The filing said Himanshi manufactures mission critical liquid cold plates for space and airborne applications and offers specialised vacuum heat treatment services, supplying hardware for industries that require rigorous thermal performance and exacting engineering standards. Paras Defence and Space Technologies has a product portfolio spanning optics and optronic systems and a defence engineering vertical that includes defence electronics, EMP protection solutions and heavy engineering.

The group said it operates across rockets and missiles, space research, naval and armoured vehicles, electronic warfare, surveillance and electromagnetic shielding. Through subsidiaries Paras Defence is present in newer domains such as drones, RF and microwave systems, anti drone measures, electro optical and infrared systems for avionics platforms and quantum communication. Investors reacted favourably to the strategic developments and the firm said it will continue to pursue collaborations and targeted acquisitions to broaden technology and market access.