India bans drone imports to boost domestic manufacturing, Zen Technologies stock 5% up

India bans drone imports to boost domestic manufacturing, Zen Technologies stock 5% up
Drone (Image: Canva)

On 9 February, the Indian government made a big announcement to ban the import of foreign drones. The Ministry of Civil Aviation said that this step has been taken to promote drones made in India and hence the ban on the import of foreign drones will be effective from February 9, 2022.

Although exceptions have been given in some cases such as drones can be imported for R&D, defense, and security purposes, due clearances will have to be taken for such imports as well.

This move can prove to be very positive for domestic drone manufacturing companies, so today the share price of Defense involved Zen Technologies Limited closed in the upper circuit of 5%.

Zen Technologies has a lot of drone products in its portfolio, so this move by the government can help this company a lot in the long term.

Zen Technologies Limited: Financials

52 Week High257.75
52 Week Low66.80
Sector PE41.19
Face Value1
Dividend Yield0.05
Mkt Cap (Rs. Cr.)1,730
Book Value Per Share26.49

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Net Profit 2021 (Rs. Cr.)2
Debt to equity (2021)0.01
Revenue 2021 (Rs. Cr.)54
EPS0.39
ROE1.52
Dividend/Share (INR) (Mar 2021)0.10
Promoters holding60.19%

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This article is only for education purpose and the author has his own views and research, so if you invest in these stocks then do it at your own risk and do the research yourself before investing.

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When did the Indian government put a ban on the import of foreign drones?

On 9 February 2022, the Indian government made a big announcement to ban the import of foreign drones.

Why did the Indian government ban the import of foreign drones?

The Ministry of Civil Aviation said that this step has been taken to promote drones made in India and hence the ban on the import of foreign drones will be effective from February 9, 2022.

Indian government has banned the import of foreign drones but when can they be imported?

Although exceptions have been given in some cases such as drones can be imported for R&D, defense, and security purposes, due clearances will have to be taken for such imports as well.