New Delhi, July 2 -- Paras Defence share price surged as much as 4 per cent in Wednesday's trading session to Rs.1,693 apiece on National Stock Exchange (NSE) after the company announced it has bagged a new order from Frence defence company Cerbair.

The defence stock has been trading in green, gained over 4 per cent in past five sessions. Paras Defence shares have given multibagger returns by surging over 243 per cent in five years.

In a regulatory filing on Tuesday, Paras Defence announced that it had received a Letter of Intent from Cerbair for the delivery of 30 units of the CHIMERA 200 drone countermeasure system, with the contract valued at Rs.22.21 crore.

The order will be fulfilled by its subsidiary, Paras Anti-Drone Technologie...