Coromandel International trades higher as its venture capital arm invests in drone startup dhaksha unmanned systems
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Coromandel International is currently trading at Rs. 1025.00, up by 3.95 points or 0.39% from its previous closing of Rs. 1021.05 on the BSE.
The scrip opened at Rs. 1021.05 and has touched a high and low of Rs. 1040.20 and Rs. 1021.05 respectively. So far 14123 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. 709.55 on 20-Dec-2021.
Last one week high and low of the scrip stood at Rs. 1065.65 and Rs. 1002.55 respectively. The current market cap of the company is Rs. 30146.02 crore.
The promoters holding in the company stood at 57.48%, while Institutions and Non-Institutions held 28.10% and 14.43% respectively.
Coromandel International’s venture capital arm--Dare Ventures has invested in drone startup dhaksha unmanned systems. The company plans to use this funding for talent acquisition, R&D and production scale up. Dhaksha, one of the forerunners in the drone space in India, provides a complete range of Unmanned Aerial Systems (UAS) technology solutions for different applications covering agriculture, defence, surveillance and delivery, among others. Based out of Chennai, the company has over the years developed expertise in drone R&D, testing, manufacturing, and customer support. In addition to having developed capability to manufacture battery-operated drones, Dhaksha is the only company in India to manufacture petrol engine-based drones.
Coromandel International is amongst India's pioneers and leading Agri solutions provider, offering diverse products and services across the farming value chain.
