Droneacharya hits bulls eye

Droneacharya Aerial is doing exceedingly well; from its close of Rs.138.95, the stock opened today at Rs.144.85 and rose to an intraday high at Rs.152. Its 52-week high is at Rs.221.

The stock price rose after the company announced receipt of a slew of orders.

It received a contract to supply IT hardware for the Indian Army's drone lab in Jammu and Kashmir.

This apart, it also got an order for the supply of Precision Mapping System from Earthtree Enviro and another order of drone controllers from the esteemed Northern Command.

The company though has not given financial details for any of these three orders received yesterday.

Five days ago, the company had announced that it had received a ‘significant service order’ from Adani to provide DGCA certified drone pilot training. Once again, no financial details of the order.

Droneacharya Aerial Innovations is into training, services, and surveillance. It is one of the first private players to receive a Remote Pilot Training Organization (RPTO) licence from the aviation watchdog Directorate General of Civil Aviation (DGCA). Since March 2022, the company has trained more than 180 drone pilots.

The company had gone public in Dec’22 on the SME platform with an IPO price of Rs.54/share.

This company is founded by Prateek Shrivastava and during the IPO, Bollywood celebrities Aamir Khan and Ranbir Kapoor had invested. Shankar Sharma holds 1.91% and Ashish Nanda, founder & MD of UAE’s Innovations Group holds 9.63%. Promoter holding is low at 28.21%.