India, Jan. 28 -- Shares of DroneAcharya rallied over 4% in early trade to INR 108 apiece on the BSE today (January 28) after the drone manufacturer announced it has bagged a contract worth INR 18.70 Lakh from the Indian Army.

As part of the deal, the drone solutions provider will set up a dedicated drone training lab to train army personnel, DroneAcharya said in an exchange filing.

The project will include the supply of hardware and conducting drone flying lessons for army personnel. The contract commenced on January 27 and will conclude by March 28, 2025.

The development comes just days after DroneAcharya signed a term sheet with drone tech startup AVPL International for a merger.

Founded by Prateek Srivastava in 2017, DroneAcharya ...