Mahindra & Mahindra Ltd, share price rose over 2 percent in the trade on August 30 after it announced partnership with Sentrycs to develop anti-drone technology to protect India’s critical infrastructure, airports, and borders.
M&M share price advanced to the day's high of Rs 2,821.55 per share on the NSE, up 2.31 percent.
The company, in a release, said, "Mahindra Group and Sentrycs Ltd have signed a Non-Binding Memorandum of Understanding (MoU) to explore opportunities for developing and providing ‘differentiated Anti-Drone Solutions’ in India, for civilian and military applications."
Sentrycs deals in adaptive counter-drone solutions, supported by innovative cyber over RF technology.
The agreement will focus on the Transfer of Technology (TOT) and manufacturing of radio frequency-based counter-drone solutions under the Government of India’s ‘Make in India’ initiative.
The ‘differentiated anti-drone solution’ is an autonomous and integrated system with a command and control (C2) module, and enables detection, tracking, identification and mitigation of incoming drones, it added.
Vinod Sahay, President Aerospace & Defence Sector and Member of Group Executive Board, Mahindra said, "We are proud to have a solution that aids in the protection of the country and its assets. This is also in alignment with our objectives of
Make in India."
At the time of publishing, the counter was up 1.90 percent to quote at Rs 2,809.90 per share on the NSE.
The counter has delivered multibagger returns of 114.50 percent in the last two years. In the last three years, it moved higher by 254.47 percent.
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