RattanIndia Enterprises jumps over 10% on receiving DGCA’s Type-Certification for Drone

At 9:30 am, RattanIndia Enterprises shares were trading at Rs 57.34, up by 10.89% from its previous closing of Rs 51.71on the BSE.

RattanIndia Enterprises’ company, Throttle Aerospace Systems (TAS) has received Type-Certification for its drone product, DOPO, from the Directorate General of Civil Aviation (DGCA). DOPO is a multipurpose drone, and with this Type-Certification, it can be deployed across multiple industries like Survey, Mapping, Inspection along with Agriculture, Surveillance & Disaster management. DOPO is a ‘Small’ class drone weighing less than 5 kilograms, with a flying time of 49 minutes. It can travel at ariel speeds of 32.4 km/hr and operates up to a maximum temperature of 50 degrees Celsius. DOPO can map 1.5 Sq km in a single flight and can operate at low, medium, and high altitudes and supports multiple payloads.

TAS was India’s first company to receive provisional drone license from DGCA, Qualified for Government of India’s Production-Linked Incentive (PLI) scheme and is licensed to make drones for the Defence industry. The company designs, develops and manufactures drones in India as part of the ‘Atmanirbhar Bharat’ initiate. The parent company NeoSky also has a DGCA license for a Drone Remote Pilot Training Organization (RPTO), one of the handful of companies/ groups to have a complete portfolio of manufacturing & training in the drones sector. The company has marquee clients from Defence, Government, Enterprise & Institutions, across India.

RattanIndia Enterprises has presence in a wide range of industries, including electric mobility (Revolt Motors), E-commerce (Cocoblu Retail), fashion brands (Neo Brands), fintech (WeFin), and drones (Neosky).

On Wednesday, the stock opened at Rs 54.16 and has touched a high and low of Rs 57.35 and Rs 53.80, respectively. The BSE group ‘A’ stock of face value Rs 2 has a 52-week high of Rs 68.75 and Rs 32.05, respectively.

Last one week high and low of the scrip stood at Rs 57.35 and Rs 48.45, respectively. The current market cap of the company is Rs 7,663.30 crore. The promoters holding in the company stood at 74.86%, while Institutions and Non-Institutions held 9.44% and 15.70% respectively.

Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. It is based on several secondary sources on the internet, and is subject to changes. Please consult an expert before making related decisions.