Nifty Smallcap 100 Plunges to 14,986 Low: Why Mid- and Small-Caps Are Crashing Harder Than the Market in March 2026

  The Indian stock market witnessed intense selling pressure on March 23, 2026, as mid- and small-cap indices tumbled over 4% amid a broader market crash driven by escalating geopolitical tensions in the Middle East. The Nifty Midcap 100 index has now declined around 13% year-to-date in 2026, reflecting sharp corrections in broader market segments that have outperformed in previous years but are now facing heightened volatility. Sharp Intraday Declines in Midcap and Smallcap Indices The Nifty Smallcap 100 index opened at 15,565.30 on Monday but quickly slipped to an intraday low of 14,986, erasing significant ground in early trade. By the afternoon session, the selling intensified, with the index down over 4% at points during the day. Market breadth was overwhelmingly negative—except for isolated performers like Trident (up around 2.85%), virtually every stock in the Nifty Smallcap 100 traded in the red, signaling widespread panic across smaller companies. Similarly, the Nifty M...
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Paras Defence Bags $3.8M Export Order from Israel's Elbit: Strengthening Indo-Israeli Defence Ties

 


Paras Defence and Space Technologies Ltd, a key player in India's defence manufacturing ecosystem, has secured a $3.8 million (₹34 crore) export order from Elbit Security Systems Ltd, Israel. Disclosed on September 26, 2025, the contract involves supplying advanced electro-optics products, with execution slated between February and November 2026. This deal underscores Paras' growing international stature and deepens bilateral defence collaboration amid global supply chain shifts.

The Deal: Electro-Optics for Cutting-Edge Applications

The order focuses on electro-optical systems—critical for surveillance, targeting, and night vision in defence platforms. Paras will leverage its expertise in optics and electronics to deliver these high-precision components, aligning with Elbit's needs for unmanned systems and border security. Valued at ₹34 crore, it's Paras' latest in a string of wins, following ₹45 crore from BEL for signal processing systems.

Paras, founded in 2009, specializes in defence and space tech, including missile components and EMP solutions. Its JV with Israel's HevenDrones for hydrogen-powered UAVs highlights Indo-Israeli synergy. The stock surged 7% to ₹1,250 post-announcement, with a market cap of ₹5,698 crore.

Indo-Israeli Defence Synergy: A Strategic Alliance

India-Israel defence ties, valued at $3 billion annually, emphasize tech transfer and joint R&D. Elbit, a global leader in electro-optics, partners with Paras to tap India's 'Make in India' push. This order boosts Paras' export revenue (20% of FY25 ₹500 crore turnover) and validates its quality certifications (AS9100D).

Amid US-China tensions, diversification reduces risks. Paras' pipeline includes $10 million in pursuits, targeting 30% export growth. CEO Munjal Talati noted the deal's role in building long-term capabilities.

Future Horizons: Paras in the Global Defence Arena

With India's defence exports hitting $2.5 billion in FY25, Paras eyes UAVs and EW systems. Challenges like supply chain localization persist, but government incentives (PLI scheme) aid scaling. This Elbit win positions Paras for more MRO contracts, enhancing India's self-reliance.

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