Stocks of this multibagger drone stock jumped up to 5 percent in Friday’s trading session after the company’s subsidiary, in association with Narayana Health, launched an innovative drone training program.
With a market capitalization of Rs 11,931.75 crores, the stocks of RattanIndia Enterprises Limited opened their trading session on Friday at Rs 85.21 and currently trade at Rs 86.32. The scrip witnessed an intra-day high of Rs 88.18 exhibiting a gain of around 5 percent compared to the previous close of Rs 84.34 apiece.
Such stock price movements were seen today post a regulatory filing of the company with the Bombay Stock Exchange (BSE) intimating about “Neosky India Limited”, a wholly-owned subsidiary of RattanIndia Enterprises, launching an innovative drone training program in association with Narayana Health, for school children in Bangalore, Karnataka.
The Centre is equipped with advanced flight simulators and provides hands-on drone flying classes, supported by certified instructors. The focus of the course is ensuring that the students are industry-ready post the completion of the course.
“Introducing drones’ technology early on, to school students, can potentially ignite a spark in the minds of the children, and inspire them to explore the world of drones & technology as they grow up”, commented Mrs Anjali Rattan, Business Chairperson, RattanIndia Enterprises Limited.
During the recent financial quarters, the company reported stellar performance with basic business indicators such as operating revenues and after-tax profits increasing in numbers. The former rose from Rs 1,394 crores during Q2FY24 to Rs 1,653 crores during Q3FY24 and the latter, during the same time horizon, shifting up from Rs 140 crores to Rs 187 crores.
The latest shareholding pattern data of the company portray the Promoters holding a 74.86 percent stake Public (retail) investors holding a 16.87 percent stake, and the Foreign Institutional Investors (FIIs) holding a considerable stake of 8.13 percent in the company.
Keeping a purview of one year, the company’s stock has delivered multibagger returns of around 115 percent to its stakeholders, i.e., if someone had invested Rs 1 lakh into the company’s stock a year ago, it would have converted to Rs 2.15 lakhs.
Incorporated in 2010, RattanIndia Enterprises Limited is an India-based company engaged in various diversified business verticals, viz, drones, electric motor vehicles, fashion apparel, manpower, human resource supply and consultancy, payroll management, fintech, insurance broking, and other related services.
Written by Amit Madnani
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