DroneAcharya shares rally 7% on securing Indian Army contract

Shares of DroneAcharya Aerial Innovations Ltd climbed 7 per cent in Monday's trade after the company secured a contract from the Indian Army, Ministry of Defence. In a filing to BSE,  DroneAcharya Aerial Innovations said the contract entails providing capacity building and advanced drone training at the Mechanised Army Courses Group, Ahmednagar.

Following the development, the stock rose 6.91 per cent to hit a high of Rs 201 on BSE over its previous closing of Rs 188. DroneAcharya Aerial Innovations shares hit a 52-week high of Rs 221.00 on October 27, 2023.

Under the terms of the agreement, DroneAcharya said it would will be responsible for training Senior officers of the Mechanised Army Courses Group, MIC&S, Ahmednagar, as proficient Drone Pilots.

"The training program will also encompass the utilisation of drones for Disaster Management purposes, showcasing the versatile applications of drone technology in critical scenarios. This significant achievement underscores DroneAcharya's commitment to excellence and innovation in the field of aerial technology," it said.

DroneAcharya Aerial Innovations said that the growing number of capacity building tenders by the Indian Army reflects the recognition of the effectiveness of drones in executing various tactical missions, even in challenging and demanding conditions.

"This contract not only marks a milestone for DroneAcharya but also exemplifies the increasing adoption of drone technology within the Defence sector,” remarks Prateek Srivastava, Founder and Managing Director at DroneAcharya.

DroneAcharya Aerial Innovations said it was looking forward to a successful collaboration with the Indian Army, Ministry of Defence, and was poised to deliver results in the realm of Capacity Building and Advanced Drone Training.

"The company takes pride in contributing to the national defence infrastructure by empowering military personnel with cutting-edge drone capabilities," it added.

 

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