Hot Stock: This drone company enters into a memorandum of understanding (MoU) with National Skill Development Corporation!
The stock has a ROE of 27.40 per cent and a ROCE of 33.20 per cent.
Drone Destination Limited, has a registered office at C-13. Ground floor, Panchehcel Enclave, New Delhi -110017. and National Skill Development Corporation (NSDCQC), having its registered office at Kaushal Bhawan, 5th-6th Floors, New Moti Bagh, New Delhi - 110023, have entered into a memorandum of understanding (MoU) at the 3rd Anniversary of NEP 2020 held at ITPO, New Delhi.
As part of the MOU. Drone Destination and NSDC shall work together on providing skill training in the emerging space of Drones across various specialized applications such as survey mapping, precision agriculture, asset inspection, drone sports, building your own drone, LIDAR survey etc. With NSDC and MSDE’s support, Drose Destination aims to expand its reach and impact to tier 2/3 cities of India and target the skilling of 2000+ candidates in a year, leading to illustrious job and self-employment opportunities.
About the company: Drone Destination Limited provides drone-powered solutions. The Company offers survey and mapping, asset inspection, surveillance, monitoring, precision agriculture, and other related services. Drone Destination operates in India. The net sales skyrocketed by 371.48 per cent to Rs 12.07 crore and net profit skyrocketed by 1,061.90 per cent to Rs 2.44 crore in FY23 compared to FY22.
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On Tuesday, shares of Drone Destination Limited surged 5 per cent upper circuit to Rs 115.10 per share from its previous closing of Rs 109.65. The stock also made a new 52-week high of Rs 115.10 per share. The company has a market cap of Rs 280 crore and the lot size is 2,000 equity shares.
The stock has a ROE of 27.40 per cent and a ROCE of 33.20 per cent. Investors should keep an eye on this SME stock.
Disclaimer: The article is for informational purposes only and not investment advice.