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Top 5 Drone Stocks For Investment in India in 2023

Introduction:

Drone stocks are the shares of companies engaged in manufacturing Unmanned Aerial Vehicles (UAVs) or ‘drones’ and/or related services. These devices have various uses across industries, including defence, entertainment, agriculture, and shipping.

The use of drones has grown dramatically in the last few years in India. As per a KPMG report, 49 major deals have been achieved in India in the drone sector in the last four years. Although the drone industry is in its nascent stage right now, it is expected to grow by multiple times in the upcoming days. By investing in the stocks of drone companies, you can profit from this growing industry.

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Below are the top five drone stocks in India in which you can invest in 2023:

1. Info Edge India

Info Edge is a leading online marketplace in India that offers various internet-based services through web portals and smartphone apps. The company was established in 1995, and its stocks are traded on the Bombay Stock Exchange (BSE) as well as the National Stock Exchange (NSE). 

Info Edge India has a history of investing in emerging technologies, drones being one of them. Recently, it has acquired equity in Skylark Drones, a global company developing fundamental drone frameworks. It has also invested in growing firms like Zomato and PolicyBazaar. As of 10 July 2023, Info Edge India’s stocks were trading at Rs. 4360.00 per share at the NSE.

2.  Dronacharya Aerial Innovations

Dronacharya Aerial Innovations is among India's top ten drone companies in the stock market. It offers drone-based services and solutions, including drone operation training, drone supply, aerial mapping, surveying, drone maintenance, and consultancy. The company was founded in 2017 and got listed on the stock exchanges through an IPO in December 2022.

As of 10 July 2023, the market capitalisation of Dronacharya Aerial Innovations stood at Rs. 395 crores, and its shares were trading at Rs. 158.10 per share at the BSE. The company is a recognised start-up under the Government of India’s Start-Up India program.

3. Bharat Forge

Bharat Forge is a global manufacturing company known for its expertise in forging and metalworking. Recently, the company has diversified its business by entering into the aerospace and defence industry and is actively involved in the production of drones.

Bharat Forge has signed contracts with some leading companies across the globe and is planning to produce drones on a large scale in the future. Its shares are listed on the NSE and the BSE, and their current market prices are Rs. 849.00 at the NSE and Rs. 848.70 at the BSE. As of 10 July 2023, the company's market capitalisation stood at Rs. 39,247 crores.

4. Paras Defence and Space Technologies

Paras Defence and Space Technologies is a private domestic company that offers a wide range of defence and space engineering products and solutions. The company has already developed a variety of UAVs and provides associated services, such as aerial mapping and surveillance.

The four major business segments of the company include Defence and Space Optics, Defence Electronics, Heavy Engineering, and Electromagnetic Pulse Protection Solutions. 

Paras Defence and Space Technologies’ shares were listed on the stock exchanges in 2021 through an IPO and are currently trading at Rs. 631.00 per share at the NSE and Rs. 630.30 per share at the BSE. As of 10 July 2023, its market capitalisation stood at Rs. 2,466 crores. 

5. Zen Technologies

Zen Technologies is a Hyderabad-based company providing combat training solutions for security and defence personnel. Its product portfolio includes virtual reality equipment, training simulators, and simulation software. The company has recently invested in manufacturing UAVs for the Indian Air Force.

As of 10 July 2023, the market capitalisation of Zen Technologies stood at Rs. 3,592 crores. The company’s shares were trading for Rs. 424.55 per share at the NSE and Rs. 424.75 at the BSE. 

To conclude

The Indian drone industry is expanding at a rapid pace. With the Central Government trying to make us a world leader in drone manufacturing and associated services, there is tremendous scope to invest in the companies in this sector.

Mentioned above are the top drone stocks in India where you can park your investments. However, before investing your hard-earned money, you must consider a few factors, including a company’s fundamentals, regulatory compliances, past performances, and standings among its peers.

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