Budget 2022 Stock: what makes MapMyIndia perfect bet on inclusion of drones in agri sector? Anil Singhvi explains

Decoding the benefits and positive impact on various sectors and stocks, Zee Business has brought exclusive research on how the government’s new initiative of using drones in the agriculture sector, may aid the drone-making companies and other technology companies related to it. 

The finance minister Nirmala Sitharaman on Tuesday in her Budget 2022-23 speech had announced a few measures incorporating drone technology in the farm sector: “Use of Kisan Drones to aid farmers and promoting startups to facilitate Drone Shakti for Drone-As-A-Service.” 

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Besides, Sitharaman also announced, “Delivery of digital and hi-tech services to farmers in the Public-Private Partnership mode and launching a fund with blended capital to finance agriculture startups.” 

On the back of these measures, Zee Business research analyst Devanshi Ashar mentions that the companies/startups related to drones are likely to new grants from the government and also benefit them in a positive manner.” 

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Not only the companies/startups that manufacture drones will have benefit, but it will also have a positive impact on tech companies such as MapMyIndia, which have been focusing on drone technology, the research analyst said.  

She added, “Even management of the MapMyIndia were of views that they would see getting a lot of orders from this sector/vertical, moreover, it gets around 10-12 per cent of total orders from the government, which analyst believes it likely to increase with recent announcement in Budget.”  

Boasting about MapMyIndia as a good company with stronger management, Zee Business Managing Editor Anil Singhvi says the stocks in the recent past have corrected to Rs 1500 levels, post touching around Rs 1900-levels high.  

According to Singhvi, “Drones may be made by Zen Tech or DCM Shriram’s venture but the technology for this program may come from MapMyIndia and they have leadership in this – mapping.” 

So far, the drone technology was only seen through two angles either logistics or Defense, however, with finance minister’s announcement in Budget it is also now seen in rural and agriculture, he added. 

This opportunity will open up a new revenue stream for MapMyIndia, as it is already working with several government companies, present, the managing editor said.