The shares of IdeaForge Technology jumped more than 12 percent to its day's high on November 17 after the company announced two order wins from the Ministry of Defence..
The shares of the company hit an intraday high of Rs 522.50 apiece on NSE on Monday, before paring some gains to close over 8 percent higher in the green at Rs 503 apiece.
IdeaForge Technology wins Rs 75-crore order:
IdeaForge Technology announced on November 14 that the company has won an order worth approximately Rs 75 crore to supply AFDS/Tactical class UAVs with accessories to Ministry of Defence. The said items are expected to be delivered within 12 months as part of the domestic order.
IdeaForge Technology wins Rs 32-crore order:
IdeaForge Technology in another exchange filing released on November 14 announced that it has received an order worth approximately Rs 32 crore to supply Hybrid UAVs with accessories to Ministry of Defence.
This domestic order is expected to be executed within 6 months.
IdeaForge Technology share price:
Despite today’s sharp gains, IdeaForge Technology shares at its day’s high were still 21 percent lower from its 52-week high of Rs 661.25 apiece, which the stock had hit in December last year. It has however recovered nearly 72 percent from its 52-week low of Rs 304.2 apiece, which it had hit in April this year.
The stock rose nearly 8 percent in the past five days, and 6.5 percent in the past one month. The shares of the drone-maker however fell nearly 12 percent in the past six months, and is down over 19 percent in 2025 so far.
Also read: DCB Bank shares jump 7% to hit fresh 52-week high on analyst upgrades, positive outlook
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