Monday , September 27 2021

RattanIndia Enterprises shines on planning to make strategic investment in Silicon Valley-based Matternet

RattanIndia Enterprises is currently trading at Rs. 54.50, up by 2.55 points or 4.91% from its previous closing of Rs. 51.95 on the BSE.

The scrip opened at Rs. 53.50 and has touched a high and low of Rs. 54.50 and Rs. 50.55 respectively. So far 79905 shares were traded on the counter.

The BSE group ‘T ‘ stock of face value Rs. 2 has touched a 52 week high of Rs. 70.65 on 27-Jul-2021 and a 52 week low of Rs. 4.48 on 06-Apr-2021.

Last one week high and low of the scrip stood at Rs. 59.50 and Rs. 50.55 respectively. The current market cap of the company is Rs. 7180.89 crore.

The promoters holding in the company stood at 74.75%, while Institutions and Non-Institutions held 8.69% and 16.56% respectively.

RattanIndia Enterprises (REL) has decided to make a strategic investment in US based Matternet, the world’s most extensive urban drone logistics platform. With this investment, REL has forayed into the deep-tech Unmanned Aerial Vehicle (UAV) industry, which is set to transform logistics ecosystems worldwide. Matternet, based out of Silicon Valley counts Boeing, Mercedes-Benz, McKesson Ventures and Sony as investors.

Matternet was founded in 2011 by Andreas Raptopoulos, a global thought leader in the UAV industry and a member of the World Economic Forum’s Global Drones and Aerial Mobility Council. Matternet provides best-inclass technology for on-demand, autonomous aerial delivery in urban environments and has garnered more revenue to date than any other UAV company from its operations in the US and Switzerland.

RattanIndia Enterprises is engaged in the business of Power generation, transmission and distribution of power and power advisory.

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