Drone Penny Stock At Rs 50.80 Hit Upper Circuit & 52-Week High As Company enters into agreement with a prominent company in the Middle East
The stock gave multibagger returns of 1,884 per cent from its 52-week low of Rs 2.56 per share.
Aerpace General Trading LLC, a UAE-based subsidiary of Aerpace Industries Limited, has formed an exclusive partnership with a leading Middle Eastern company. This agreement grants the partner exclusive rights to distribute Aerpace's advanced large-size drone technology, including the innovative aerWing, across the Middle East. Moreover, the partnership will facilitate the establishment of a dedicated R&D centre in the region. This centre will serve as a hub for acquiring intellectual property and technologies from worldwide sources, significantly accelerating the development of large-size drones like aerWing.
This strategic alliance represents a major milestone in Aerpace's global expansion. By strengthening its market presence in the Middle East, Aerpace is poised to unlock new growth opportunities and reinforce its position as a leading player in the drone technology industry. While the specific terms of the agreement remain confidential due to a non-disclosure agreement, this partnership aligns seamlessly with Aerpace's long-term vision of establishing a strong international footprint and leveraging its technological innovations to meet diverse market demands. We are confident that this collaboration will drive substantial progress and value creation for our stakeholders in the years to come.
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Earlier, we announced a significant step in the development of its aerWing project. The company partnered with Cavok Engineering, a leader in UAV and UAM technologies, to accelerate the development of our large-size drone capable of carrying a 1.5-ton payload. Cavok Engineering, with their experience in 14 UAM & UAV and 8 manned aircraft homologation projects, will assist in designing, analysing and developing our aerWing. Key deliverables include a Preliminary MRO for the aerWing project, a list of necessary documents, and technical recommendations for the conceptual design process. With Cavok's technical expertise and proven track record, the company is confident in accelerating the development timeline and bringing our ambitious drone project closer to reality. aerWing will play a pivotal role in multiple sectors, including aerTaxi, aerAmbulance and aerCargo, as part of our integrated air transportation system.
The company has a market cap of over Rs 750 crore and a 3-year stock price CAGR of 315 per cent. On Friday, shares of Aerpace Industries Ltd were locked in a 2 per cent upper circuit and made a new 52-week high of Rs 50.80 per share with a spurt in volume by more than 1.50 times on BSE. The stock gave multibagger returns of 1,884 per cent from its 52-week low of Rs 2.56 per share. Investors should keep an eye on this drone penny stock.
Disclaimer: The article is for informational purposes only and not investment advice.