Announced Wed, 29 Apr · 12:26 IST
Magellanic Cloud announces $11M UAV defence JV with Israel's XTEND
MCLOUD · price
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Price reaction · full curve 14 horizons · vs prior close
+0.2%1-day move
₹26.99
prior close
₹27.02
base price
In-mkt
timing
5m10m15m30m1D2D3D4D5D7D15D1M2M3M
-0.3-0.5-1.8-2.1+0.2+0.0+1.0+1.9+0.8-1.8-4.2-1.5+6.7—
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AI summary
Magellanic Cloud has formed a ~US$11 million (~₹100 crore) joint venture with India's Rayonix Tech and Israel's XTEND to manufacture advanced UAV/drone systems in India. Magellanic becomes XTEND's exclusive Indian manufacturing partner, using XTEND's XOS operating system. The JV targets defence applications — surveillance, reconnaissance, tactical missions — supporting India's Make in India vision. FY25 context: Revenue ₹597 Cr, Net Profit ₹103 Cr.
Likely market impact
Strategic entry into high-growth defence drone sector with global tech partner; ₹100 Cr JV signals major diversification beyond existing IT/fintech ops.