RattanIndia Enterprises Ltd.'sDrone company TAS approved for PLI Scheme

RattanIndia Enterprise Ltd (REL) has announced that Throttle Aerospace Systems Private Limited (TAS) has been shortlisted for the PLI (Production Linked Incentive) scheme for Drones and Drone components by Govt. of India. Ministry of Civil Aviation (MoCA) made the announcement on the beneficiaries of the PLI scheme on the 6th of July'2022.

RattanIndia Enterprises Ltd (REL) had recently acquired majority of shareholding in India's leading drone company Throttle Aerospace Systems Private Limited (TAS) through NeoSky India Limited, a wholly owned subsidiary of REL.

The objective of this scheme is to incentivise domestic manufacturing of Unmanned Aerial Vehicles (UAVs) and UAV components in India in line with Govt. of India's vision to make India a global drone hub. PLI scheme is aimed to make the industry self-sustaining and competitive across the globe. Drones are a valuable component for multiple industries such as agriculture, infrastructure, emergency response and disaster relief, transportation, geospatial mapping and mapping for marketing purposes, media and entertainment, law enforcement and defence.

Shares of RattanIndia Enterprises Limited was last trading in BSE at Rs. 41.45 as compared to the previous close of Rs. 41.35. The total number of shares traded during the day was 120444 in over 1596 trades.

The stock hit an intraday high of Rs. 41.70 and intraday low of 40.85. The net turnover during the day was Rs. 4973496.00.

Source : Equity Bulls

Keywords

RattanIndiaEnterprises INE834M01019 NeoSky ThrottleAerospaceSystems PLIScheme Drones DroneComponents