Back-to-Back Upper Circuit & 1,100% Returns in 12-Months: RRP Defense Ltd Forms JV with CYGR for Drone Manufacturing in India

DSIJ Intelligence-2 / 13 Jul 2025/ Categories: Mindshare, Multibaggers, Trending

Back-to-Back Upper Circuit & 1,100% Returns in 12-Months: RRP Defense Ltd Forms JV with CYGR for Drone Manufacturing in India

On a year-to-date basis, the stock has gained 899 per cent, while in the last 12 months, it has delivered a return of 1,147 per cent.

Euro Asia Exports Ltd (RRP Defense Limited), formerly known as Euro Asia Exports Limited, has signed a strategic Memorandum of Understanding (MoU) with CYGR, a Franco-American drone technology firm, to form a Joint Venture (JV) for advanced drone manufacturing in India. This initiative supports the government’s Make in India and Atmanirbhar Bharat programmes aimed at strengthening indigenous defense capabilities.

Under the agreement, RRP Defense Limited will hold a 90 per cent stake, while CYGR will hold the remaining 10 per cent. The JV will set up a state-of-the-art manufacturing facility and a dedicated R&D center in Navi Mumbai. The focus will be on building next-generation drones for defense, surveillance, and other strategic use cases, with an emphasis on local production, technology transfer, and skill development.

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Further announcements are expected at a formal press conference scheduled for Tuesday.

The company’s stock performance has been exceptional. Currently trading at Rs 202.90, up Rs 3.95 or 1.99 per cent, it has hit 65 consecutive upper circuits and maintained a 93-day winning streak.

On a year-to-date basis, the stock has gained 899 per cent, while in the last 12 months, it has delivered a return of 1,147 per cent. An investment of Rs 1 lakh made a year ago would now be worth approximately Rs 12.47 lakh, marking a notable multibagger performance in the Small-Cap segment.

Incorporated in 1981, Euro Asia Exports Ltd does trading and exports of various items. Company is in the business of trading and dealing in fabrics, garments and other trading material, etc. At present, the company is starting the business of selling sponge iron.

Disclaimer: The article is for informational purposes only and not investment advice.