Adani gave a big order to the drone company, keep an eye on the stock movement today

DroneAcharya Aerial Innovation Limited has signed a major deal with a Gautam Adani Group company. Shares of Drone Acharya fell about 4 percent on Tuesday amid news of the deal. On the second trading day of the week, the stock fell to Rs 142.25 from its previous close of Rs 151.85.

What was the deal with Adani?

DroneAcharya Aerial Innovations Limited has received a service order from Adani for DGCA certified drone pilot training. The service order includes DGCA certified drone pilot training. The company said in a regulatory filing. Pratik Srivastava, founder and managing director, Drone Acharya, said that the use of drones by major players like Adani indicates significant progress. At the same time it will motivate companies to adopt this latest technology. Through this order the Adani Group will be able to fulfill its mapping, monitoring and inspection objectives across its various businesses.

Recently the company received a contract for providing training services from the Ministry of Defence. According to the company, this contract reflects the growing importance of First Person View (FPV) drones and their increased use for missions by the Indian Army. The 15-day training program will include simulator training and practical on-ground drone flying. Candidates will be awarded a certificate on completion of the program.

The IPO came in December 2022

The IPO of DroneAcharya Aerial Innovations Limited was launched in December 2022 at an issue price of ₹54 per share. At the same time on December 23, 2022 the stock was listed at a premium of around 90 percent. Shares of the company were listed at ₹102 against a price band of ₹52-54 per share.

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