DroneAcharya shares rise 6% as firm inks pact for supply of 200 drones

Shares of DroneAcharya Aerial Innovations Ltd surged over 6% on Thursday after the firm said it has inked a landmark agreement with CBAI Technologies Private Limited. The agreement entails the procurement of 200 Type Certified training drones over a span of three years.

DroneAcharya Aerial shares gained 6.39% to Rs 174.80 against the previous close of Rs 164.30 on BSE. Total 1.62 lakh shares of DroneAcharya Aerial changed hands amounting to a turnover of Rs 2.79 crore.

Market cap of DroneAcharya Aerial rose to Rs 411.28 crore on BSE. DroneAcharya Aerial shares have a one-year beta of 0.8, indicating low volatility during the period.        

The stock rose to a 52 week high of Rs 221 on October 27, 2023 and a 52 week low of Rs 121 on April 21, 2023.

DroneAcharya has established its main DGCA certified drone pilot training centers in Pune, Maharashtra. Additionally, it has forged strategic partnerships to set up associated centers in Punjab in collaboration with IIT Ropar, Gujarat in partnership with Rashtriya Raksha University, and Rajasthan in partnership with Subhkhyati Aerospace , said the firm.

"We envision immense potential within the burgeoning drone industry, driven by the surging demand for skilled talent," said Prateek Srivastava, Founder and Managing Director of DroneAcharya.

"As highlighted by Shri Jyotiraditya Scindia, India is poised to require one lakh drone pilots, triggering a cascade of job opportunities in ancillary fields such as drone engineering, data analytics, and technical support. In light of this burgeoning demand, DroneAcharya is proud to announce its strategic collaboration with CBAI Technologies Private Limited to procure 200 Type Certified Training drones over the next three years," added Srivastava.