The government on Wednesday notified the liberalised Drone Rules 2021 to open up new possibilities for innovation, business and drone technologies. Several requirements and approvals have been abolished in the new rules that may make drone operations simpler for civilian drone operators.
Shares of Zen Technologies and DCM Shriram Industries are buzzing from the last two days on the back of the new drone rules news as analysts said both these companies are working in the drone business. In Friday’s early deals, Zen Tech shares were trading over 7% higher.
Santosh Meena, Head of Research, Swastika Investmart said that Zentec is a debt-free company while top-line growth is not encouraging but these new drone rules may act as a catalyst for future growth.
Heavy lift logistics drones (HLLDs) from Zen Technologies offers advanced capabilities to fulfil the role of providing reliable logistics support in typically challenging environments and even in combat situations.
“Technically, 107-112 area is an immediate supply zone and if it (Zentech stock) manages to sustain above this zone then we can expect a fresh rally towards 133/158 levels. On the downside, 90 is major support,” Meena said.
Meanwhile, DCM Shriram recently signed an agreement with Turkish UAV manufacturer and drone maker Zyrone Dynamics. “As per the agreement, the company would subscribe to 30% of the capital of the foreign company comprising of 25715 shares at a total investment of just over USD 1.05 million in five tranches over a period of about a year, subject to necessary approval with regard to foreign investment under FEMA Regulations,” it said in an exchange filing on August 17.
The aim of the government is to make India a global drone hub by 2030, said Union Civil Aviation Minister Jyotiraditya Scindia on Thursday, adding that drone application will be ensured in transportation, logistic, defence, mining, infrastructure sectors and more, which will generate job opportunities.
“We are going to ensure drone application in transportation, logistic, defence, mining, infrastructure sectors and more. It will provide more jobs. Our aim is to make India a global drone hub by 2030,” he said while speaking about the new Drone Rules 2021.
Prime Minister Narendra Modi in a tweeted said that the new Drone Rules will tremendously help start-ups and youth working in this sector. It will help leverage India’s strengths in innovation, technology & engineering to make India a drone hub.
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