New Delhi, Nov. 26 -- Paras Defence share price surged nearly 1% to Rs.717.50 in Wednesday's trading session after the company announced that it has signed an agreement with DRDO.

The small-cap defence stock has been under pressure lately as it has remained flat in last one month and has descended 11.59% in six months. However, the defence stock delivered nearly 39% returns in last one year and 191% since its listing.

In an exchange filing on November 26, Paras Defence said that it has signed a technology transfer agreement with DRDO for the Driver Night Sight (DNS) system used in T-90 tanks.

This deal allows the company to manufacture and work with the night-vision technology within India. The company further informed that the agreeme...