RattanIndia Enterprises Ltd. has welcomed the announcement of India's air space map for Drone operations by the Govt. of India. It is a follow-through of recent announcements of liberalized Drone Rules, 2021 and the introduction of the Production Linked Incentive (PLI) scheme for the drones industry, which seeks to make India a global hub for drones. As per the Press Release by the Govt. of India, all these policy reforms will catalyse super-normal growth in the upcoming drone sector.
The digital map defines Green, Yellow and Red Zones across the country for drone operations and is available on DGCA's digital platform https://digitalsky.dgca.gov.in/home. The Green Zone consisting of the airspace up to 400 feet and up to 200 feet above the area located between 8-12 kilometres from the perimeter of an operational airport require no permission for operating drones with an all-up weight upto 500 kgs. This Digital Sky platform is based on the premises of self-certification and non-intrusive monitoring and will accelerate drone usage. These preapproved Green corridors will accelerate the drone usage for industry applications.
Yellow zones with airspace above 400 feet in a designated green zone or above 200 feet in the area located between 8-12 kilometres from the perimeter of an operational airport and above ground in the area located between 5-8 kilometres from the perimeter of an operational airport would be considered as yellow zones will require prior permission.
Drone systems will prove to be extremely transformative by providing cost effective solutions for developing countries like India. Recently RattanIndia Enterprises Ltd. announced the launch of its drone business with its wholly-owned subsidiary - NeoSky India Limited. The company has recently made a strategic investment in the U.S.-based urban drone logistics platform - Matternet.
Shares of RATTANINDIA ENTERPRISES LIMITED was last trading in BSE at Rs. 43.75 as compared to the previous close of Rs. 44.9. The total number of shares traded during the day was 186672 in over 1398 trades.
The stock hit an intraday high of Rs. 45.45 and intraday low of 43.5. The net turnover during the day was Rs. 8218927.