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Kolkata: Think of a stock which is priced less than Rs 100. Also that it is trading at 65% discount and it has received a significant order from the Indian Army linked to supply drones. New Delhi-based Drone Destination is one such stock. It is active in the drone services and training industry. It offers drone-as-a-service (DaaS) solutions for different sectors such as agriculture, surveillance and mapping. It also provides drone pilot training programs and manufacturing drones.
Drone Destination has recently received an order to supply drones worth Rs 3.5 crore. The contract concerns drone training and upskilling programs for the military.
Investors have responded quickly to the announcement. As a result, the stock surged on Monday, October 27 and the shares hit a 10% upper circuit. Considering its 52-week high, the stock is trading at a massive 65% discount.
Drone Destination will be setting up as FPV drone training lab, build a drone training school which will train 200 officers. It will also construct a drone battlefield maneuvering arena. Needless to say, this project is supposed to enhance the Indian Army's drone technology proficiency and operational preparedness in this field of rising importance.
The company is based in the national capital and is regarded as a leading drone training and service provider in the country. It offers services such as Drone-as-a-Service (DaaS) and drone pilot training. Significantly, it is the country's first listed drone company. It is a small company and is listed on the NSE Emerge platform. The company also trains people to deploy and used drones in other sectors such as agriculture, infrastructure and industry.
On October 28, the shares opened at Rs 83 up 3.75%
Whereas in the last one quarter there was a decline of 20.12%
The stock declined 61.06% in the last one year.
The market cap of the company is more than Rs 195 crore
The 52-week low is Rs 64.55
The company registered a jump in both top line and bottomline. Net sales of the company jumped by 153% to reach Rs 13.83 crore, while PAT jumped 163% to touch Rs 1.01 crore.
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