Shares of this Indian drone company flew high today on signing a new franchise deal
The company provides a high-end ecosystem of drone solutions for multi-sensor drone surveys, data processing of drone data using robust high-configuration workstations, drone pilot training and specialised GIS training.
DroneAcharya Aerial Innovations has entered into a franchise agreement with Switzerland-based Wollstone Capital SA, a private investment holding company. The primary objective of this partnership is to establish 30 Remote Pilot Training Organizations (RPTO) across India, aimed at enhancing drone sales, services, and certified training programs. The total value of the agreement between DroneAcharya and Wollstone stands at $2.7 million (Rs 23 crore).
A Pivotal Player
Through its collaboration with Wollstone, DroneAcharya Aerial Innovations is poised to play a pivotal role in advancing the drone sector. This partnership will significantly expand the number of Remote Pilot Training Organizations (RPTOs) and ensure that drone technology, training, and job opportunities are accessible across the entire country. The agreement aims to establish more than a hundred training centres throughout India. With this strategic alliance, DroneAcharya envisions democratizing drone technology and services, serving as a comprehensive solution for end consumers including farmers, mining agencies, energy companies, and educators. Their offerings encompass state-of-the-art drone technology, drone data processing, and analytics powered by Artificial Intelligence and Machine Learning.
Share price movement
The scrip opened today at Rs 174.30 and reached the day's high and low of Rs 190.25 and Rs 174, respectively. Its 52-week high stood at Rs 243.35, whereas its 52-week low was Rs 96.90. The current market cap of the company is Rs 446.19 crore. The promoters hold a 28.21 per cent stake in the company whereas the Institutional and non-institutional holdings are 5.27 per cent and 66.51 per cent, respectively.
Droneacharya Aerial Innovations Limited Drone is a full-fledged innovative solution, based out in the cultural and IT hub of Pune, Maharashtra, with offices operating in Pune. The company was started off in 2017 by its founder and Chairman and Managing Director Prateek Srivastava with a vision to encourage multiple aspects of Drones, Drone-as-a Service (DaaS) and Geographic Information System (GIS) is a system that creates, manages, analyses and maps all the types of data. Today, the company provide a high-end ecosystem of Drone solutions for multi-sensor Drone surveys, data processing of Drone data using robust high-configuration workstations, Drone pilot training & specialized GIS training.
DSIJ’s ‘Micro Marvel' service recommends micro-cap stocks with the potential to grow multifold in long run. If this interests you, do download the service details here.
Disclaimer: The article is for informational purposes only and not investment advice.