Shankar Sharma’s portfolio stock & FIIs bought 1,67,000 shares: This micro-cap drone manufacturing company signs MoU with Jain University, Bangalore– details inside

Shankar Sharma’s portfolio stock & FIIs bought 1,67,000 shares: This micro-cap drone manufacturing company signs MoU with Jain University, Bangalore– details inside

Kiran Shroff
/ Categories: Trending, Mindshare

The stock is up by 58 per cent from its 52-week low of Rs 111.15 per share.

DroneAcharya Aerial Innovations Limited has officially entered into a Memorandum of Understanding (MOU) with JAIN (Deemed-to-be University), Bangalore, aimed at advancing aviation and aerospace education.

This strategic collaboration will significantly benefit the aviation and aerospace community by enhancing their skills and knowledge. Within this partnership, DroneAcharya has committed to providing valuable insights to JAIN regarding teaching/training methodologies, as well as customizing the curriculum to ensure candidates are well-prepared for the demands of the industrial landscape.

Additionally, both parties have agreed to engage in joint research activities, particularly focusing on Drone Management and Geospatial sectors. The company emphasize its mutual commitment to securing all necessary internal approvals, consents, permissions, and licenses required for offering programs.

Furthermore, DroneAcharya will actively support faculty development programs to align training with industrial requirements and offer assistance for guest lectures pertinent to the sector and JAIN's in-house needs.

Earlier, DroneAcharya, marks a pivotal step by supplying advanced agricultural drones to Vimaan Aerospace, fulfilling their recent MoU. This milestone, paired with a significant defense drone export order secured through their Thai associate, showcases DroneAcharya's growing influence and technological prowess in diverse sectors, setting the stage for future service expansion.

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On Friday, shares of DroneAcharya Aerial Innovations Ltd plunged 1.46 per cent to Rs 175.35 per share from its previous closing of Rs 177.95 with an intraday high of Rs 178.50 and an intraday low of Rs 175. The stock is up by 58 per cent from its 52-week low of Rs 111.15 per share.

Aamir Khan invested Rs 25 lakh to purchase 46,600 shares during the pre-IPO fundraising round, and Ranbir Kapoor spent approximately Rs 20 lakh to purchase 37,200 shares. Additionally, an ace investor, Shakar Sharma owns 4,57,000 shares or 1.91 per cent stake in the company.  

In December 2023, BofA Securities Europe Sa, an FII bought 1,67,000 shares at Rs 188 per share aggregating to Rs 3,13,96,000 or 3.14 crore. (BofA Securities Europe SA operates as an institutional broker. The Company offers fixed income, currency, and commodities financial instruments dealing, as well as investment banking advisory, underwriting, and post-trade related services. BofA Securities Europe SA serves customers worldwide).

According to the half-yearly results, the net sales increased by 998.01 per cent to Rs 2,088.86 lakh, profit before tax increased by 2,934.05 per cent to Rs 533.69 lakh and PAT increased by 2,934.47 per cent to Rs 396.95 lakh in H1FY24 compared to H1FY23. According to its annual results, the net sales increased by 417.3 per cent to Rs 18.57 crore and net profit increased by 736.6 per cent to Rs 3.43 crore in FY23 compared to FY22. The company has a market cap of Rs 420 crore and investors should keep an eye on this micro-cap drone stock.

Disclaimer: The article is for informational purposes only and not investment advice.

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