Drone stock currently in the spotlight due receipt purchase order from Ministry of Defense
Drone stock : During Tuesday’s trading session, the spotlight is on a company that specializes in providing drone operation training, supply, and maintenance services. This company recently made headlines after announcing that it had received a purchase order from the Ministry of Defence.
With a market capitalization of Rs. 262.6 crores, the shares of DroneAcharya Aerial Innovations Limited saw a significant surge of nearly 1.3 percent, reaching an intraday high of Rs. 111.6 on the BSE, compared to its previous closing price of Rs. 110.15.
The latest news from DroneAcharya Aerial Innovations Limited, as disclosed in its regulatory filings with the BSE, reveals that the company has secured a purchase order worth Rs. 7.53 lakh from the Ministry of Defence, Department of Military Affairs, Mechanised Army Courses Group in Ahmednagar.
Under this contract, DroneAcharya will be providing a Drone Pilot Training Course and Drone Building Course for 8 Indian Army Officials. The training program is set to begin on 3rd February 2025 and conclude on 12th February 2025.
In addition to this recent order, DroneAcharya has been making significant strides in the industry. On 18th December 2024, the company entered into a strategic partnership with Volatus Aerospace Inc., based in Canada, through a Memorandum of Understanding (MoU). This collaboration aims to enhance drone-based logistics and services in India by combining DroneAcharya’s expertise in drone surveying and training with Volatus Aerospace’s advanced delivery solutions and technological innovations.
Furthermore, on 13th January 2025, DroneAcharya received a purchase order worth Rs. 5.5 lakh from Tata Communications Limited. This order involves the development of customized drone solutions (Static Drone) to be showcased at Tata Communications’ experience center, with completion scheduled by 31st March 2025.
In terms of financial performance, Drone
During the same period, the company experienced a significant decrease in net profit, dropping from Rs. 4 crores to Rs. 1.51 crores, marking a substantial decline of approximately 62.5 percent year-over-year.
Stock Performance
The stock has shown a negative return of nearly 42.3 percent over the past year, with returns of around 22 percent in the last six months. Additionally, shares of DroneAcharya Aerial Innovations have seen negative returns of about 9.3 percent in the last month.
About the Company
Established in 2017, DroneAcharya Aerial Innovations Limited primarily focuses on drone operation training, drone supply and maintenance services, as well as management consultancy and training services.
For more market insights, follow our blog.
Stay tuned for more updates and insights on the stock market! For more insights on investing in the Indian stock market, check out resource like ET, NSE India.
Disclaimer: This blog post is for informational purposes only and should not be considered financial advice. Investors should conduct thorough research and consult with a qualified financial advisor before making any investment decisions.