This company launched India’s first super high altitude multi-rotor drone; stock jumps 20 per cent and hits upper circuit today!
The stock has delivered a 25 per cent return in just one month.
Droneacharya Aerial Innovations Limited made a significant announcement in its latest exchange filing yesterday regarding the launch of a new drone.
As per the details in the release, the company launched BHUJANG (Battlefield Hybrid UAV for Joint Attack, Navigation, and Guarding), a heavy lift-off, super-high-altitude, long-range drone with multiple capabilities on Saturday, September 9, 2023.
The drone “BHUJANG” is India's first super high-altitude multi-rotor multi-role drone, capable of achieving an astonishing altitude of 1,500 meters AGL (Above Ground Level) from a takeoff point as high as 4,800 meters, with a maximum altitude of 6,300 meters.
It is also the first drone in South Asia with combat, transport, and surveillance capabilities in a single aircraft.
The company also stated that the product is fully 'Made in India,' encompassing innovations in the propulsion system, material structure and strength, and chip-level integration.
BHUJANG has been launched after extensive research and numerous test flights conducted in challenging weather conditions and rough terrains, in collaboration with the Indian Army. This extensive testing has positioned this product far ahead in terms of cost-effectiveness, equipment manufacturing capabilities, and the reliability of the aircraft with a fail-proof system said in the report.
The company's shares began the day at Rs 157.95 each on the BSE and hit the upper circuit of 20 per cent, currently trading at Rs 182.80. This represents a significant increase of Rs 30.45 or 19.99 per cent from its closing price of Rs 152.35 the previous day.
The company's current market capitalization stands at Rs 438 crore. Furthermore, the stock has delivered a remarkable 25 per cent return in just one month.
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Incorporated in 2017, Droneacharya Aerial Innovations Limited offers a comprehensive ecosystem of high-end drone solutions, including multi-sensor drone surveys, data processing using powerful high-configuration workstations, as well as drone pilot training, and specialized GIS training.
Investors must keep this stock on their radar.
Disclaimer: This article is for informational purposes only and not investment advice.