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DroneAcharya Shares Rally 5% After Startup Bags New Contracts
Inc42
·
1y ago
Medial
DroneAcharya Aerial Innovations, a drone startup based in Pune, saw a 5% increase in its shares on the BSE SME platform after securing new contracts from the Indian defense forces. The startup received an order from the Ministry of Defence to supply IT hardware for a drone lab in Jammu and Kashmir, as well as contracts to provide drone hardware to the Northern Command and its precision mapping system to Earthtree Enviro. Founded in 2017, DroneAcharya offers drone-based enterprise solutions and has recently received accreditation from the Directorate General of Civil Aviation.
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DroneAcharya Gets DGCA Nod To Open 5th Remote Pilot Training Centre in Karnataka
Inc42
·
1y ago
Medial
DroneAcharya will establish a training center in Dharwad to provide drone training to 240 officials from the Karnataka forest department. This comes after the startup received an order worth INR 96 Lakh to train the officials. DroneAcharya has also secured contracts with the Adani Group and the Indian Army.
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New-Age Tech Stocks’ Winning Streak Ends; Yudiz Biggest Loser This Week
Inc42
·
1y ago
Medial
Indian new-age tech stocks experienced a mixed performance this week, with some stocks declining while others registered gains. Among the losers were Yudiz, PB Fintech, Nazara Technologies, Delhivery, Paytm, and RateGain. On the other hand, DroneAcharya emerged as the biggest gainer, followed by Nykaa, Zomato, ideaForge, and EaseMyTrip. The broader market saw a positive trend, with benchmark index Nifty 50 gaining 1.88% and Sensex rallying 1.86%. Paytm shares fell 2.3%, while Zomato continued its rally, touching another 52-week high. DroneAcharya gained 14.5% after launching the BHUJANG drone.
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DroneAcharya Bags Order From Adani Group To Provide Drone Pilot Training
Inc42
·
1y ago
Medial
DroneAcharya, a listed drone startup, has been awarded a significant service order by the Adani Group for Directorate General of Civil Aviation (DGCA) certified drone pilot training. The contract signals the increased use of drones for mapping, monitoring, and inspection purposes within Adani Group's operations. Earlier this year, DroneAcharya secured a contract from the Indian Army for advanced drone training and partnered with Vimaan Aerospace for drone-related training and services. The startup reported significant growth, with a profit after tax of INR 3.97 Cr in the first half of FY24, compared to INR 13.09 Lakh in the previous year.
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Bloodbath In New-Age Tech Stocks As Broader Market Slumps; IndiaMART The Only Gainer This Week
Inc42
·
1y ago
Medial
Indian new-age tech stocks faced a major correction this week, with 18 out of 19 stocks experiencing declines. Yudiz Solutions was the biggest loser, falling 32.8%, followed by Fino Payments Bank and DroneAcharya Aerial Innovations. Paytm's shares continued to be volatile as it faced selling pressure due to developments following the Reserve Bank of India's crackdown on Paytm Payments Bank. Nazara Technologies announced plans to allocate $100 million for mergers and acquisitions, while DroneAcharya secured contracts with the Adani Group, Earthtree Enviro Pvt. Ltd., and the Indian Army.
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DroneAcharya shares climb to 12.88% amid expansion plans
Inshorts
·
7m ago
Medial
Shares of DroneAcharya Aerial Innovations rallied as much as 12.88% to touch an intraday high of ₹131.00 on the BSE on December 16 after the company announced its strategic expansion into the Middle East through a new subsidiary in Abu Dhabi. The expansion comes as DroneAcharya reported H1FY25 PAT of ₹1.50 crore, down 62.1% YoY, despite revenue growing 28.8% to ₹26.90 crore.
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Veteran Investor Shankar Sharma Offloads 2 Lakh Shares Of DroneAcharya In A Bulk Deal
Inc42
·
1y ago
Medial
Shankar Sharma, a pre-IPO investor in drone startup DroneAcharya, sold 2 lakh shares worth around INR 3.1 crore on the BSE. Sharma's stake in the company had previously stood at 1.91% but his name no longer appears on the shareholders list for the quarter ending March 2024. Following the stake sale, DroneAcharya's shares dropped 4.4% on the BSE, but made a recovery on Friday to close 3% higher. The startup recently secured contracts from the Indian Army and Adani Group, and also received a work order worth INR 53 lakh from Alter Dynamics & Artificial Intelligence.
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DroneAcharya shares rally 7% intraday after startup secures contract from Indian Army
Inc42
·
1y ago
Medial
Shares of Pune-based drone startup DroneAcharya Aerial Innovations surged by 7% during intraday trading after securing a contract from the Indian Army. The contract involves providing capacity building and advanced drone training to senior officers at the Mechanised Army Courses Group, Ahmednagar. The training program will cover drone piloting as well as the use of drones in disaster management. This contract marks a milestone for DroneAcharya and highlights the increasing adoption of drone technology in the defense sector.
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DroneAcharya Bags Order From Alter Dynamics
Inc42
·
1y ago
Medial
DroneAcharya Aerial Innovations, a drone tech company, has secured a contract worth INR 53 Lakh for drones aimed at inspecting piles above water for the Abu Dhabi National Oil Company (ADNOC). The deployment of drones equipped with high-resolution sensors promises efficient and intelligent inspection solutions. DroneAcharya aims to enter the relatively untapped drone survey market in the Middle East, delivering professional services to architecture, engineering, and construction industries. Previously, DroneAcharya secured orders from the Adani Group for DGCA certified drone pilot training and signed an agreement with Vimaan Aerospace for various drone-related services.
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DroneAcharya’s Net Profit Doubles To 6.2 Cr In FY24, Operating Revenue Jumps 90%
Inc42
·
1y ago
Medial
Pune-based DroneAcharya Aerial Innovations reported a profit after tax of INR 6.2 Cr in FY24, nearly doubling from INR 3.42 Cr in FY23. Operating revenue rose 90% to INR 35.19 Cr, attributed to growth as a drone solutions provider and training organization. Founded in 2017 by Prateek Srivastava, DroneAcharya entered drone manufacturing in partnership with Gridbots Technologies. Total revenue, including other income, reached INR 37.35 Cr. The company expanded its drone pilot training centers and secured notable contracts with the Adani Group and the Indian Army, aiming to export drones internationally and establish a global presence.
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Drone stocks rally up to 15% as high-tech sky assassins dominate India-Pakistan conflict
Economic Times
·
3m ago
Medial
Indian stocks related to unmanned warfare and defense technology surged dramatically, following India's drone-led precision strikes on Pakistani military installations. Shares of companies like Ideaforge Technology and Droneacharya Aerial Innovations saw significant gains. This rally came amidst heightened cross-border tensions, as Pakistan conducted drone and missile attacks on Indian military stations. The intense engagements signify a shift to military-on-military confrontations. India's robust response showcased its growing defense manufacturing capabilities, particularly in unmanned systems.
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