Coromandel International inches up as its arm bags order to supply logistics drones, accessories to Indian Army
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Coromandel International is currently trading at Rs. 1045.40, up by 3.05 points or 0.29% from its previous closing of Rs. 1042.35 on the BSE.
The scrip opened at Rs. 1025.40 and has touched a high and low of Rs. 1048.40 and Rs. 1025.40 respectively. So far 12253 shares were traded on the counter.
The BSE group 'A' stock of face value Rs. 1 has touched a 52 week high of Rs. 1094.40 on 01-Sep-2022 and a 52 week low of Rs. 838.95 on 27-Jan-2023.
Last one week high and low of the scrip stood at Rs. 1050.00 and Rs. 979.80 respectively. The current market cap of the company is Rs. 30750.37 crore.
The promoters holding in the company stood at 57.40%, while Institutions and Non-Institutions held 28.15% and 14.45% respectively.
Coromandel International’s subsidiary -- Dhaksha Unmanned Systems has bagged an order to supply 200 medium altitude logistics drones and accessories to the Indian Army. Recently, Dhaksha has also bagged a 400-drone contract from agri inputs cooperative IFFCO for supply of agri-spraying drones. These are planned to be delivered over the course of next 12 months. Dhaksha’s orders for the current year have exceeded Rs 165 crore including the order from Defence and IFFCO. The company also has a strong order pipeline which will further increase the potential revenues for the current year.
The company has a technology collaboration with Anna University and is the only player in the country to receive type certificates from DGCA for three drone models in medium & small categories for agriculture and surveillance applications.
Coromandel International is amongst India's pioneers and leading Agri solutions provider, offering diverse products and services across the farming value chain.
