In a significant development, shares of DroneAcharya Aerial Innovations Ltd experienced a 7% surge in Monday’s trading session following the company’s successful bid for a contract from the Indian Army, Ministry of Defence. The contract involves providing capacity building and advanced drone training at the Mechanised Army Courses Group in Ahmednagar.
DroneAcharya Aerial Innovations, in a filing to BSE, reported that the stock rose by 6.91%, reaching a high of Rs 201 on BSE compared to its previous closing of Rs 188. The shares had previously achieved a 52-week high of Rs 221.00 on October 27, 2023.
Under the terms of the agreement, DroneAcharya will be responsible for training senior officers of the Mechanised Army Courses Group, MIC&S, Ahmednagar, to become proficient drone pilots. The training program will also encompass the utilization of drones for disaster management, showcasing the versatile applications of drone technology in critical scenarios.
Prateek Srivastava, Founder and Managing Director at DroneAcharya, expressed enthusiasm about the achievement, stating, “This contract not only marks a milestone for DroneAcharya but also exemplifies the increasing adoption of drone technology within the Defence sector.”
The company emphasized 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.
DroneAcharya Aerial Innovations looks forward to a successful collaboration with the Indian Army, Ministry of Defence, and aims to deliver outstanding results in the realms of capacity building and advanced drone training. The company takes pride in contributing to the national defense infrastructure by empowering military personnel with cutting-edge drone capabilities.
