PARAS

** India's Paras Defence and Space Technologies PRAF.NS jumps as much as 10% to one-month high of 1,047.7 rupees, last up 6.6%

** PRAF on course for third consecutive session of gains

** Co receives order worth 1.42 billion rupees ($16.5 million) for development of laser source module and integration with beam control system on mobile platform

** PRAF top pct gainer on Nifty India Defence .NIFTYINDDEFENCE index, which is down 0.4%

** More than 650,000 shares change hands in an hour's trade, 4x the six-month avg volume

** PRAF up 4% YTD, turns positive with day's gains

(Reporting by Vivek Kumar M)

(([email protected];))

** Shares of India's Garden Reach Shipbuilders & Engineers GRSE.NS soar 20%, on course for their steepest-ever daily percentage rise

** Other defence stocks rise as well; Nifty India Defence .NIFTYINDDEFENCE up 5%

** Bargain-hunting and Germany's massive defence spending boost sentiment

** "Street is expecting some benefits to flow through for domestic defence players especially in shipping sector," says Sunny Agrawal, head of fundamental equity research at SBICAPS Securities, on Germany's defence spending boost

** Adds, recent correction offers some valuation comfort in defence stocks

** Ideaforge Technology IDEF.NS and Mazagon Dock Shipbuilders MAZG.NS jump 16% and 10%, respectively, while Cochin Shipyard COCH.NS is up 9%

** Hindustan Aeronautics HIAE.NS and Bharat Dynamics BARA.NS jump 4.5% and 6%, respectively, while Paras Defense and Space Technologies PRAF.NS gains 5%

** YTD, GRSE, BARA, and MAZG turn positive, while COCH, PRAF, HIAE, and IDEF are still in the red

** Defence index up 19% so far in March, on course to snap a three-month losing streak

(Reporting by Vivek Kumar M)

(([email protected];))

Jan 23 (Reuters) - Paras Defence and Space Technologies Ltd PRAF.NS:

• TO INVEST 120 BILLION RUPEES IN MAHARASHTRA

• SIGNS MOU WITH MAHARASHTRA GOVERNMENT

• SIGNS MOU TO BUILD OPTICS PARK

Source text: ID:nBSE1nRdpQ

Further company coverage: PRAF.NS

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Jan 22 (Reuters) - Paras Defence and Space Technologies Ltd PRAF.NS:

• SIGNS MOU WITH MAHARASHTRA GOVERNMENT FOR OPTICS PARK PROJECT

• TO INVEST 120 BILLION RUPEES IN OPTICS PARK

• OPTICS PARK EXPECTED TO GENERATE 2000 DIRECT JOBS

• OPTICS PARK PROJECT TO COMMENCE IN 2028

Source text: ID:nBSE2vCDzP

Further company coverage: PRAF.NS

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** Shares of India's Paras Defence and Space Technologies PRAF.NS jump 7%

** Defence engineering firm said it received lifetime licence to manufacture two types of light machine guns

** Trading vols at ~170,000 shares vs 30-day avg of 139,000 shares

** PRAF has gained 3% so far this year after a 40% surge in 2024 - its best year since listing in 2021

(Reporting by Hritam Mukherjee in Bengaluru)

(([email protected];))

** Indian defence stocks rise between 1.3% and 4%

** The Defence Acquisition Council approves five proposals worth 217.72 bln rupees ($2.57 bln) to enhance operational capabilities of the armed forces

** Data Patterns Ltd DATP.NS leads pack with 4% gain; state-owned Hindustan Aeronautics Ltd HIAE.NS and Bharat Electronics Ltd BAJE.NS rise 1.3% and 1.6% respectively

** Mazagon Dock Shipbuilders Ltd MAZG.NS, Bharat Dynamics Ltd BARA.NS, Ideaforge Technology Ltd IDEF.NS, Paras Defence and Space Technologies Ltd PRAF.NS up between 1.9% and 3.1%

** Analysts tracking stocks rate most at "buy" or higher; PRAF rated "sell" and MAZG at "hold" - LSEG data

** MAZG leads pack with YTD gains of 110%

($1 = 84.6700 Indian rupees)

(Reporting by Nandan Mandayam in Bengaluru)

(([email protected]; Mobile: +91 9591011727;))

** Shares of Paras Defence and Space Technologies PRAF.NS rise 4.6% to 1022 rupees

** Co opens state-of-the-art optical systems testing facility in Navi Mumbai for space and defence applications ranging from earth observation to homeland security

** Co plans to invest 500 crore rupees ($59.3 million) over the next few years to build India's first advanced optical systems development park

** More than 171,000 shares changed hands as of 10:50 AM IST, 1.4 times the 30-day avg daily volume

** Stock up 35.89% ytd, as of last close

(Reporting by Ananta Agarwal in Bengaluru)

(([email protected]))

Nov 22 (Reuters) - Paras Defence and Space Technologies Ltd PRAF.NS:

• OPENED OPTICAL SYSTEMS TESTING FACILITY IN NAVI MUMBAI

• CO TO INVEST 5 BILLION RUPEES TO BUILD ADVANCED OPTICAL SYSTEMS PARK

Source text: ID:nBSE1MJ4hp

Further company coverage: PRAF.NS

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** Data Patterns (India) DATP.NS falls 5% to 2,207.25 rupees

** Aerospace electronics co reports 10% decline in Sept-qtr profit to 302.8 mln rupees ($3.6 mln); rev from ops down 16%

** DATP set for third straight session of losses

** More than 404,000 shares traded in stock's busiest session in more than a week

** Stock rated "buy" on avg; median PT is at 3,403 rupees - LSEG

** DATP up ~19% YTD vs a ~43% rise in rival Paras Defence and Space Technologies PRAF.NS

($1 = 84.3680 Indian rupees)

(Reporting by Dimpal Gulwani in Bengaluru)

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Nov 7 (Reuters) - Paras Defence and Space Technologies Ltd PRAF.NS:

• PARAS DEFENCE AND SPACE TECHNOLOGIES LTD - GOT ORDER WORTH 614.3 MILLION RUPEES

Source text: ID:nBSE1txvqr

Further company coverage: PRAF.NS

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** Shares of Paras Defence and Space Technologies PRAF.NS rise as much as 5% to 1,007.90 rupees

** Defence products maker got 420.5 mln rupees order

** Over 63,000 shares traded as of 10:15 a.m. IST, vs their 30-day moving avg of 92,855 shares

** PRAF gained 23.8% YTD, including today's gains

(Reporting by Meenakshi Maidas in Bengaluru)

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Adds details on data provided by SatSure in paragraph 15

By Nivedita Bhattacharjee

BENGALURU, Oct 14 (Reuters) - India has a plan to carve out a beachhead in the battle for commercial space, officials say: crunching space data, building small satellites and launching them cheaply into orbit rather than challenging heavyweights such as SpaceX head-on.

In particular, it is taking aim at providing cost-effective services and hardware to sectors such as communications, agriculture and commodities, where high-quality data is a precious resource.

At stake is a launch market worth $14.54 billion by 2031, and a related data services market pegged at $45 billion by 2030.

"The world has gone from satellites the size of a Boeing plane to the size of a laptop," said AK Bhatt, director general of the Indian Space Association, an industry body.

"This is a sector that India can win, instead of challenging heavy launches where Elon Musk has dominance. The country already has an historical advantage in data mining and interpretation."

Since February, India has opened its space sector to private players and created a 10 billion rupee ($119 million) venture fund to support space startups. It has also unveiled plans for crewed space exploration and a mission to Venus, but the focus is on developing commercial ventures.

In many ways it will be an uphill fight. Other countries such as Japan and China have advanced space industries, and designs on cheap launches. Spaceflight itself is difficult; the startup landscape globally is littered with failed boosters and satellite designs.

For India, "the tech is there and the ability is there... but space is tricky and very competitive, and while private companies have shown that they can create a niche for themselves, we need more proof of concept," said Namrata Goswami, a space policy expert at Arizona State University.

She added that the Indian government must be an "anchor customer" for private industry.

Most of the revenue growth is expected to come from so-called downstream data applications, said Pawan Goenka, chairman of IN-SPACe, India's space regulatory body.

Those involve crunching data from orbit to help improve crop yields on earth, build more accurate navigation systems, bolster telecommunications, tighten border security and fight climate change, Goenka said.

Indian companies such as Bellatrix Aerospace, Pixxel, Agnikul Cosmos, Dhruva Space and others are already building or have launched small satellites or satellite components.

India's space agency, ISRO, last month completed the third and final developmental flight for its Small Satellite Launch Vehicle. The design will then be handed to private companies.

"The end uses of Earth observation are vast," Goenka said. "What we are doing is address various parts of the puzzle."

Bengaluru-based SatSure, for example, has been providing near real-time satellite data to the Airports Authority of India to enhance air traffic management and safety, helping airlines save fuel costs by improved flight planning. The project is expected to save 37.5 billion rupees ($446 million) in fuel costs for airlines annually by 2025 and result in a roughly 70% reduction in airport process planning timelines, the authority said.

Earth observation (EO) satellites - orbiting cameras and sensors - can unlock similar savings in other areas, said the company's chief executive, Prateep Basu.

"EO is solving problems that span across utilities, navigation, trading, industries, helping save millions of dollars," Basu said.

GOVERNMENT PUSH

Since the government opened up the market, companies big and small have jumped in, with legacy IT firms like Infosys INFY.NS investing in satellite imaging company GalaxEye Space Solutions, Google-backed GOOG.O Pixxel signing contracts with NASA, and Baring- and Promus-backed SatSure taking on clients such as HDFC Bank HDBK.NS and global seed company Syngenta.

Dhruva Space became one of the first to be handed a permit to operate satellite communication centres on earth - to date the dominion of ISRO.

"India is a software powerhouse and produces some of the best minds in the world in data science, machine learning, and artificial intelligence. The space downstream market is, at the end of the day, a software play," said Aravind Ravichandran, founder of France-based advisory firm Terrawatch Space.

The consultancy Euroconsult forecasts that between 2023 and 2032, about 26,104 small satellites - weighing less than 500 kilogrammes (1,100 lb) - will be put in orbit, averaging 1.5 tons of daily launch mass. The firm expects the overall small satellite industry to be worth $110.5 billion in the next decade.

Indian space companies have already seen an influx of funding - $126 million in 2023, a 7% increase from the $118 million raised in 2022 and an increase of 235% from the $37.6 million raised in 2021, according to Tracxn data.

But India has only about 2% of market share in commercial space activities, demand is still largely dependent on global clients, and well-established U.S., Russian and Chinese companies are formidable rivals.

"To truly make a dent, (Indian) solutions have to scale to the rest of south Asia and then to the rest of the world," said Pixxel founder and CEO Awais Ahmed.

($1 = 84.0560 Indian rupees)

(Reporting by Nivedita Bhattacharjee in Bengaluru; Editing by Gerry Doyle and Kim Coghill)

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** Shares of Zen Technologies ZETE.NS, Paras Defence and Space Technologies PRAF.NS, and ideaForge Technology IDEF.NS rise 2.2%, 8% and 2.1% respectively

** India's government is planning an incentive scheme for the drone sector to enhance implementation and documentation, a government official said at an industry body event

** Paras and ideaForge manufacture drones, while Zen is involved in the production of anti-drone systems

** ZETE set for biggest one-day gain in more than 2 months; more than 414,000 shares traded, highest in over 2 weeks

** Vols on PRAF at highest since late-August, with 144,000 shares traded

** PRAF up 54.5% YTD vs 125% jump in ZETE; IDEF down 17%

(Reporting by Aleef Jahan in Bengaluru)

(([email protected]))

Oct 1 (Reuters) - Paras Defence and Space Technologies Ltd PRAF.NS:

• FLOOR PRICE FOR QIP AT 1,096.35 RUPEES PER SHARE

Source text for Eikon: ID:nBSE4QmHxw

Further company coverage: PRAF.NS

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** Shares of Paras Defence And Space Technologies PRAF.NS rise 4.6% to 1,116 rupees

** Co won order worth 2.93 bln rupees ($35 mln) from associate co Controp-Paras Technologies to make components for order from L&T LART.NS

** Stock set to end five-day losing run if trend holds

** Stock eyes second-best day in September

** PRAF up ~55% YTD vs ~8% drop in rival Mishra Dhatu Nigam MISR.NS

($1 = 83.7740 Indian rupees)

(Reporting by Varun Vyas in Bengaluru)

(([email protected]))

** Shares of Paras Defence And Space Technologies PRAF.NS rise as much as 4.8% to 1,293.70 rupees

** India government grants the aerospace and defense firm for an industrial license to manufacture defence and security technology equipment

** The license includes equipment like cameras, security surveillance, thermal imaging and radar systems

** Stock last up 3.4%, extending YTD gains to ~77%

(Reporting by Yagnoseni Das in Bengaluru)

(([email protected];))

Aug 21 (Reuters) - Paras Defence and Space Technologies Ltd PRAF.NS:

• PARAS DEFENCE AND SPACE TECHNOLOGIES -GOVERNMENT GRANTED INDUSTRIAL LICENSE TO CO

Source text for Eikon: ID:nBSE1DFY4y

Further company coverage: PRAF.NS

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** Shares of Paras Defence and Space Technologies PRAF.NS rise 5% to 1,208.35 rupees apiece

** Company's unit secures order worth 3.05 billion rupees (about $36 million) from Larsen and Toubro LART.NS

** Order for manufacturing and supply of 244 electro optics systems

** Order to be executed within 47 months, PRAF says

** LART shares trading little changed on the day

** PRAF, LART shares up 68% and 1%, respectively, in 2024 so far, compared to 12% rise in Nifty 50 index .NSEI

($1 = 83.9500 Indian rupees)

(Reporting by Bharath Rajeswaran in Bengaluru)

(([email protected]; +91 9769003463;))

July 30 (Reuters) - Paras Defence and Space Technologies Ltd PRAF.NS:

• PARAS DEFENCE AND SPACE TECHNOLOGIES - GOVERNMENT GRANTED INDUSTRIAL LICENSE TO CO

Source text for Eikon: ID:nBSE20l5Gw

Further company coverage: PRAF.NS

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Recasts with policy details; changes dateline to Feb. 22 to reflect ongoing story

BENGALURU, Feb 22 (Reuters) - India will allow 100% foreign direct investment in the manufacture of satellite systems without official approval and eased the rules for launch vehicles, a government statement said, aiming for a greater share of the global space market.

India's space ambitions got a boost when it became the first country to land a spacecraft near the unexplored south pole of the moon in August - and the fourth to achieve a soft landing - just days after a similar Russian mission failed.

The government said in a statement late on Wednesday that foreign companies could invest in the manufacture of components and systems or sub-systems for satellites up to 100% without approval.

Foreign firms planning to build satellites in India would not require government approval up to 74% of the investment; for investment in launch vehicles, investment could go up to 49% without such approval, the statement said.

India has privatised space launches and is aiming for a five-fold increase in its share of the global launch market, which some expect to be worth $47.3 billion by 2032. India currently accounts for about 2% of the space economy.

The country hopes that liberalised rules for the space sector, long controlled by the government, will draw interest from Elon Musk’s SpaceX and Jeff Bezos' Blue Origin, among others.

The foreign direct investment policy reform is expected to boost employment and will allow companies to set up manufacturing facilities in India, the government said in the statement.

"This will give India access to the latest tech advances and much-needed funds, not only from the country but from international investors too," said A.K. Bhatt, director general of the Indian Space Association.

Space-related India stocks such as Paras Defence and Space Technologies PRAF.NS, MTAR Technologies MTAR.NS, Taneja Aerospace and Aviation TANE.BO and Apollo Micro Systems APLL.NS climbed 2% to 5% on Thursday.

(Reporting by Nivedita Bhattacharjee, Angela Christy, Mrinmay Dey, Kanjyik Ghosh; Editing by Emelia Sithole-Matarise and Gerry Doyle)

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Feb 5 (Reuters) - Paras Defence and Space Technologies Ltd PRAF.NS:

• CO GOT TRANSFER OF TECHNOLOGY OF SMART WAREHOUSE FOR SAFE STORAGE OF GRAINS

Source text for Eikon: ID:nBSE2mr8sQ

Further company coverage: PRAF.NS

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** Shares of Paras Defence and Space Technologies Ltd PRAF.NS up 3% at 808 rupees

** PRAF on Tuesday entered into licensing agreement with India's DRDO for transferring technology of remote control border defence system

** Co can now manufacture and sell this system to Indian armed forces

** More than 755,000 shares traded, 1.5x the 30-day avg

** PRAF up ~3% in Jan

(Reporting by Nandan Mandayam in Bengaluru)

(([email protected]; Mobile: +91 9591011727;))

** Shares of Paras Defence and Space Technologies PRAF.NS rise as much as 5.6% to 759 rupees

** Co incorporates new subsidiary Quantico Technologies Pvt

** New unit to focus on quantum communication, a technology theoretically impossible to hack, according to researchers

** More than 870,000 shares change hands by 2:56 p.m. IST, 2.5x of 30-day avg

** More than 800,000 shares were traded in single sessions only twice in the last quarter

** Stock rose 19.5% in 2023, while rival defence-linked companies Premier Explosives PRMR.NS, Bharat Electronics BAJE.NS, MTAR Technologies MTAR.NS and Solar Industries SLIN.NS rose 278.7%, 84.4%, 36.5% and 53.4%, respectively

(Reporting by Ashish Chandra in Bengaluru)

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Updates with closing levels in paragraph 1, 4

By Rama Venkat

BENGALURU, Nov 30 (Reuters) - Shares of India's Tata Technologies TATE.NS settled nearly three-fold higher on their trading debut on Thursday, valuing the first Tata Group company to go public in nearly two decades at 532.64 billion rupees ($6.4 billion).

The Tata Motors' TAMO.NS unit, which provides engineering and technology services to auto, aero and heavy machinery makers, beat the valuation of its peers like KPIT Technologies KPIE.NS and L&T Technology Services LTEH.NS.

Tata Technologies' listing-day gains were also among the best since 2021-end, according to LSEG data and analysts.

The shares surged past the initial public offer price of 500 rupees to debut at 1,200 rupees before hitting the day's high of 1,400 rupees and ending 163% higher at 1,313 rupees.

"The listing was beyond imagination... and post that, the rally to 1,400 rupees was even more unexpected," Arun Kejriwal, founder of Kejriwal Research and Investment Services, said, adding that short-term investors could book profits.

The company's future earnings through a part of financial year ending March 2025 appear to have been discounted at the current valuation, Kejriwal added.

Tata Technologies' valuation has topped that of its peers KPIT Technologies, L&T Technology Services and sister Tata Group company Tata Elxsi TTEX.NS, which are valued between 409 billion rupees and 514 billion rupees.

IT services provider Tata Consultancy Services TCS.NS, which listed in 2004, was the last Tata Group company to go public.

India has seen a record 201 IPOs so far this year, while share benchmarks have scaled record highs on improving economic growth prospects.

Shares of the other stock market debutantes on Thursday, Fedbank Financial Services FEDB.NS and Gandhar Oil Refinery GADH.NS, closed 0.2% and 78.3% higher, respectively.

Pharmaceutical company Sigachi Industries SIGC.NS and Paras Defence & Space PRAF.NS had climbed as high as 270% and 171%, respectively, on listing in 2021, Aditya Kondawar, Vice President of Complete Circle Capital, said.

($1 = 83.3520 Indian rupees)

(Reporting by Rama Venkat in Bengaluru; Editing by Mrigank Dhaniwala)

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Nov 6 (Reuters) - Paras Defence and Space Technologies Ltd PRAF.NS:

• PARAS DEFENCE AND SPACE TECHNOLOGIES LTD SEPT-QUARTER CONSOL NET PROFIT 94.2 MILLION RUPEES VERSUS 84.8 MILLION RUPEES

• PARAS DEFENCE AND SPACE TECHNOLOGIES LTD SEPT-QUARTER CONSOL REVENUE FROM OPERATIONS 613.1 MILLION RUPEES VERSUS 556.9 MILLION RUPEES

Source text for Eikon: ID:nBSE9tSHSV

Further company coverage: PRAF.NS

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Oct 20 (Reuters) - Paras Defence and Space Technologies Ltd PRAF.NS:

• RE-APPOINTS MUNJAL SHARAD SHAH AS MD

• APPROVED TO INCORPORATE AN ASSOCIATE CO BY ENTERING A JV AGREEMENT WITH MICRO-LAM

Source text for Eikon: ID:nBSEbQ616B

Further company coverage: PRAF.NS

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Oct 19 (Reuters) - Paras Defence and Space Technologies Ltd PRAF.NS:

• GOT SECOND TYPE CERTIFICATE FROM DGCA FOR PARAS-AGRICOPTER V2.1 AGRI DRONE

Further company coverage: PRAF.NS

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Sept 4 (Reuters) - Paras Defence and Space Technologies Ltd PRAF.NS:

• RE-APPOINTS MUNJAL SHARD SHAH AS MD

Source text for Eikon: ID:nBSE1N3JR8

Further company coverage: PRAF.NS

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** Shares of defence-linked companies rise after India's defence acquisition council approves proposals worth 78 bln rupees

** Paras Defence and Space Technologies PRAF.NS, Premier Explosives PRMR.NS, Bharat Electronics BAJE.NS, MTAR Technologies MTAR.NS and Solar Industries SLIN.NS jump between 1.7% and 4.5% each

** Proposals pertain to enhancing efficiency of Indian Air Force, procuring guns, tanks and systems for mechanised infantry and unmanned surveillance

** BAJE, which will provide the electronic warfare (EW) suite to Indian Air Force, gained as much as 2.64% to a record high

** PRMR, SLIN also scaled fresh all-time highs on Friday

(Reporting by Bharath Rajeswaran in Bengaluru)

(([email protected]; +91 9769003463))

** Shares of cos linked to the Indian space agency's moon mission surge between 4%-18%, after the country landed its spacecraft on the lunar south pole

** Larsen & Toubro LART.NS and Centum Electronics CENT.NS, which supplied equipment, hit record highs

** Precision engineering firm MTAR Technologies MTAR.NS, which counts ISRO among its clients, jumped as much as 10% to its highest since Jan 5, 2022

** Paras Defence and Space Technologies PRAF.NS advanced 17.3%, while Indo National INNL.NS, which supplied four electronics components for the launch vehicle, jumped 5%

** India on Wednesday made history as its Chandrayaan-3 lander successfully touched down on the moon's south pole, thought to be a potential source of water and oxygen

(Reporting by Rama Venkat in Bengaluru)

(([email protected]; https://twitter.com/ramavenkat0607;))