Paras Defence and Space Technologies (NSE:PARAS, BOM:543367) has been granted a license to manufacture MK-46 and MK-48 Belt-fed Light Machine Gun (LMG), according to a Tuesday filing to the stock exchanges.
The license for the modernized LMG is valid for a lifetime, with a target annual capacity of 6,000.
Shares of the company were up 7% in recent trade.
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