DroneAcharya Share Price Soars on Defense Ministry Contract Announcement 🚀💼
On Monday, the stock market saw a rise in DroneAcharya Aerial Innovation Limited’s share price as investors showed strong interest in the company. The stock climbed over 3% to reach an intraday high of 160.80 rupees. However, profit booking soon led to a negative trend in trading.
DroneAcharya Aerial Innovation Limited announced on Monday that it has received a contract from the Defense Ministry to provide training services. The company stated that it has secured a deal for drone pilot training from the Department of Military Affairs under the Defense Ministry. The contract highlights the increasing importance of First Person View (FPV) drones and their growing use by the Indian Army for missions.
Shares were trading at 130 rupees with a 10.10% decline on Wednesday, reflecting market fluctuations.
The 15-day training program will include theoretical sessions, simulator training, and practical on-ground drone flights. Candidates will receive certificates upon completion of the program. The company recently announced the launch of an FPV drone designed specifically for defense applications, equipped with day and night vision capabilities.
DroneAcharya Aerial Innovation Limited also revealed plans to open an office in Bangkok, Thailand, to enter the Southeast Asian market. This move will help the company expand sales, services, and training reach in Southeast Asia. Earlier this month, the company announced the acquisition of a 76% stake in AeroFly Academy Private Limited, a leading drone pilot training center in South India.
The IPO of DroneAcharya Aerial Innovation Limited was launched in December 2022 at a price band of 52 to 54 rupees per share. On December 23, 2022, the stock debuted at a nearly 90% premium on the BSE SME Exchange, listing at 102 rupees per share compared to the price band of 52-54 rupees.
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