Shares of Paras Defence and Space Technologies fell as much as 6.1% on Monday to Rs 876.55 on the BSE, as investors booked profits following last weeks sharp rally triggered by the companys 1:2 stock split.The stock, which had surged over 8% on Friday post-adjustment, saw a reversal in belief even as underlying technical indicators continued to reveal strength.
The decline comes despite bullish hints, with the stock still trading above all 8 crucial basic moving averages (SMAs) from the 5-day to the 200-day and the Moving Average Convergence Divergence (MACD) remaining above both the center and signal lines.Fridays rally followed the companys stock split ending up being efficient on July 4, which was also the record date for the sub-division.
The split, altering the stated value from Rs 10 to Rs 5 per share, had actually been authorized by investors through postal ballot on June 7, 2025, as disclosed in a regulative filing under SEBIs Listing Obligations and Disclosure Requirements (Regulation 42).
Nevertheless, with the Relative Strength Index (RSI) at 70.7 a level considered overbought a near-term pullback stays likely.Paras Defence shares continue to show strong performance over broader timeframes.
The stock is up 14.4% over the past year and has surged 82.4% in the last six months.
In the previous 3 months alone, it has actually gotten 79%, including a 7% rise over the previous month.Live EventsParas Defences market capitalisation presently stands at Rs 7,442.64 crore.|Jane Street clampdown raises big questions for Sebi: Can the regulator stop another derivatives fraud?(Disclaimer: Recommendations, suggestions, views and opinions offered by the experts are their own.
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