FIIs Bought 1,71,000 Shares: This Drone Company Partners with SISIR Radar for Southeast Asian and African Markets; Complete Details Inside!
As of March 2024, FIIs bought 1,71,000 shares and increased their stake to 2.02 per cent compared to 1.31 per cent in September 2023.
On Wednesday, shares of DroneAcharya Aerial Innovations Ltd plunged 0.61 per cent to Rs 130 per share with an intraday high of Rs 132.70 and an intraday low of Rs 129. The stock’s 52-week high is Rs 221 and its 52-week low is Rs 125.25.
DroneAcharya Aerial Innovations Limited has announced a strategic partnership with SISIR Radar through a Memorandum of Understanding. This collaboration will see DroneAcharya become the exclusive reseller of SISIR Radar products in Southeast Asia and Africa. This partnership is a significant step forward for DroneAcharya as it expands its capabilities in the Defense and Space Tech sectors.
The partnership will enable DroneAcharya to integrate SISIR's advanced Spatial Aperture Radar (SAR) technologies and hyperspectral imagery into its portfolio. This will enhance its ability to offer high-resolution 2D and 3D landscape reconstructions for applications in forestry, water management, and agriculture. SAR technology is particularly valuable in these sectors due to its ability to capture high-resolution images regardless of weather conditions or daylight.
This new partnership aligns with DroneAcharya's previous announcement of its foray into SpaceTech through its research and development in CubeSats. The integration of SAR sensors into these CubeSat constellations will enhance their capabilities and applications. Key elements of the partnership include sales leadership, technical collaboration, commercialization of logistics drones, and joint development.
SISIR Radar is a deep-tech innovation company that specializes in indigenous radar technologies. This partnership underscores DroneAcharya's commitment to expanding its Drone and Space Tech offerings and solidifying its position as a leading player in the industry. The integration of SAR sensors into CubeSat constellations will open up new possibilities for advanced earth observation, environmental monitoring, and strategic defence operations.
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About DroneAcharya Aerial Innovations Ltd
DroneAcharya Aerial Innovations Ltd is a leading provider of drone-based solutions, dedicated to pushing the boundaries of innovation in aerial technologies and AI-driven applications. With a focus on delivering cutting-edge solutions, DroneAcharya is committed to transforming industries through the integration of drones and automation. As of March 2024, FIIs bought 1,71,000 shares and increased their stake to 2.02 per cent compared to 1.31 per cent in September 2023. The company has a market cap of Rs 312 crore.
According to standalone annual results, the net sales increased by per cent 95.2 per cent to Rs 37.35 crore and net profit increased by 81.4 per cent to Rs 6.20 crore in FY24 compared to FY23. In its consolidated annual results, the net sales increased by per cent 94.9 per cent to Rs 37.29 crore and net profit increased by 79.2 per cent to Rs 6.13 crore in FY24 compared to FY23.
Disclaimer: The article is for informational purposes only and not investment advice.
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