DroneAcharya Aerial rises ~4% on bagging defence order

18 Dec 2023 , 02:13 PM

DroneAcharya Innovations Limited gained as much as 4.05% in today’s trade to touch an intraday high of Rs 214.50 after bagging a contract to supply drone lab equipment from the Ministry of Defence.

The company will supply and implement these components at NCPITS (CBS) Bhalra, Jammu & Kashmir. The said components are meant to facilitate drone simulators, stated the company in its media filing.

The integration of these Drone Lab Equipment will supplement the advanced simulator technology, creating a learning environment to enhance drone piloting skills among military personnel.

This month, the drone (UAV) startup launched first-person drones for asymmetric warfare for the defence personnel of India.

DroneAcharya Aerial Innovations is backed by top investor Shankar Sharma and has been one of the multi-bagger stocks in 2023 after its listing in December last year.

At around 2.11 PM, DroneAcharya was trading 0.85% higher at Rs 207.90, against the previous close of Rs 206.15 on NSE.

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