DroneAcharya Aerial shares up 5% on order from army

DroneAcharya Aerial Innovations: The share touched a 52-week high of Rs 221 on October 27, 2023 and a 52-week low of Rs 111.15 on March 21, 2023

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DroneAcharya Aerial Innovations share price rose 5 percent in the early trade on March 18 after the company secured a contract to supply IT hardware for the Indian Army’s drone lab in Jammu and Kashmir.

At 9.41 am, Droneacharya Aerial Innovations was quoting at Rs 145.75, up Rs 6.80, or 4.89 percent, on the BSE.

The provision of IT hardware, including CPUs, monitors, keyboards, and mice, for the drone lab will contribute significantly to the establishment and operation of this state-of-the-art facility, it said.

“We are honored to have received this contract from the Indian Army for the establishment of the Drone Lab in J&K,” DroneAcharya founder and managing director Prateek Srivastava said.

“This contract represents a significant milestone for DroneAcharya, and we are proud to support defense initiatives that contribute to national security and technological advancement,” he added.

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The company has also bagged an order for the supply of Precision Mapping System from Earthtree Enviro Pvt. Ltd and secured a supply order of drone controllers from the Northern Command.

The share touched a 52-week high of Rs 221 on October 27, 2023 and a 52-week low of Rs 111.15 on March 21, 2023. The stock is trading 33.98 percent below its 52-week high and 31.26 percent above its 52-week low.