Droneacharya Aerial Innovations falls 1% as BofA acquires stake

Foreign investor BofA Securities Europe SA has acquired 1.67 lakh shares in Droneacharya Aerial Innovations at an average price of Rs 187.65 per share.

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Shares of Droneacharya Aerial Innovations fell 1  percent at 10:30 am on the BSE, a day after foreign investor BofA Securities acquired stake in the company.  At 9:30 am on December 28, the stock was trading in the green at Rs 191 before losing early gains. Since listing in December 2022, the stock has gained over 78 percent.

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According to exchange data, foreign investor BofA Securities Europe SA has acquired 1.67 lakh shares in Droneacharya Aerial Innovations at an average price of Rs 187.65 per share.

Also Read: Deeptech startup DroneAcharya has big plans post BSE and NSE listing

In H2FY24, the industrial drone solutions company reported a operating revenue of Rs 20.89 crore in H1 FY24 up from from Rs 1.9 crore in the year-ago period. Net profit for the reporting period was Rs 3.97 crore, up from Rs 3.42 crore in the year ago period.

Started in 2017, the company offers services including Drone Logistics, Industrial Enterprise Solutions and Survey Mapping.

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