Rattanindia Enterprises Ltd. announced the appointment of Mr. Peeyush Kumar as Head of Drone business. Mr. Peeyush Kumar was previously working as CEO of Pixella, a drones company in India. He brings in deep experience in drones, robotics, artificial intelligence and electronics. Mr. Peeyush Kumar has deep global experience in hi-tech sector having working with multinational companies like Panasonic, Samsung, Sony, TCL, HCL and Phillips over last 25 years.
RattanIndia Enterprises had earlier made a strategic investment in US Woo based Matternet, the world's most extensive urban drone logistics platform. The Company is starting a wholly owned subsidiary for its drones business in India. Mr. Peeyush Kumar's wide experience will help the Company scale up its drones business in the country.
Government of India is promoting the drones sector in India with recent announcements of liberalized Drone Rules, 2021 and introduction of Production Linked Incentive (PLI) scheme for drones industry. Drone systems are means of green, clean and ultra-fast mobility. Drones have wide industry application are poised to transform almost all sectors of the economy.
Anjali Rattan, Business Chairperson of RattanIndia Enterprises said "We are glad that Mr. Peeyush Kumar, an industry leader is joining us to lead our drones business. We believe that drones have potential to transform the lives of billion plus Indians. Under Mr. Kumar's leadership, RattanIndia will be at the forefront of this transformation."
Commenting on his appointment, Mr. Peeyush Kumar said, "I am very excited to lead the drones business for RattanIndia. With our investments and deep commitment to the drones sector, I am sure the Company is well positioned to be a market leader in drones solutions in the country. I look forward to help accelerate this transformative journey of the Company."
Shares of RATTANINDIA ENTERPRISES LIMITED was last trading in BSE at Rs. 45.65 as compared to the previous close of Rs. 46.55. The total number of shares traded during the day was 66765 in over 550 trades.
The stock hit an intraday high of Rs. 47.85 and intraday low of 45.1. The net turnover during the day was Rs. 3104632.