Shankar Sharma-Backed Micro Cap Stock Surged 7% After Partnering With IIT Ropar

Shares of DroneAcharya that were trailing on Wednesday received a bump in the afternoon. The shares of the drone company went up over 7% to hit an intraday high of ₹193.40.

What Happened: DroneAcharya Aerial Innovations has partnered with the Indian Institute of Technology (IIT) Ropar. The strategic tie-up aims to expand drone training operations in North India.

“Through this collaboration, we aim to cater to the growing need for skilled manpower in the Drone Industry in the Northern part of the country,” stated Prateek Srivastava, managing director of DroneAcharya.

DroneAcharya has already established training centres in Pune and at the Rashtriya Raksha University in Gujarat. The introduction of the new centre in collaboration with IIT Ropar is designed to bridge the skill gap in the rising drone industry in Northern India. The firm also promises quality training and job assistance to its trainees.

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Having trained 564 DGCA-certified drone pilots, DroneAcharya holds a significant market share among private training organisations. The firm was recently awarded India's largest government drone training project by the Karnataka Forest Department where it is tasked with training 240 staff and officials.

Earlier this year, DroneAcharya inked a deal with Tata Strive and Wollstone Capital to launch 30 new centres across India. These centres are expected to be hubs for drone training and drone-based services. The company also plans to establish centres in several other Indian cities including Jaipur, Jabalpur, Noida, Uttarakhand, Palampur, Mangalore, and Dharwad.

Price Action: DroneAcharya’s share price was up 3.36% to trade at ₹186.20 on Wednesday afternoon. As per the latest shareholding pattern, ace investor Shankar Sharma owns a 1.91% stake in the company.

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