Mutibagger Paras Defence shares hit 10% upper circuit level after adjusting for 1:2 stock split
Shares of Paras Defence and Space Technologies Ltd hit their upper circuit on Friday following a stock split in a 1:2 ratio. The stock, which closed at Rs 1,697.30 on Thursday, opened at Rs 855 on Friday after the price was adjusted to reflect the subdivision. It subsequently rallied 10 per cent to Rs 933.50. Some brokerage trading platforms may still be displaying the unadjusted pre-split price from Thursday, potentially showing an incorrect decline of around 45 per cent in the stock.
Bourses BSE and NSE have put the securities of Paras Defence under the long-term ASM (Additional Surveillance Measure) framework. Exchanges place stocks in short-term or long-term ASM frameworks to alert investors about high volatility in share…
