IdeaForge bags around Rs 137 crore drone order from Indian Army
ideaForge Technology
has secured an order worth about Rs 137 crore for hybrid mini
unmanned aerial vehicles
systems from the Indian Army through the emergency procurement route, the company said on Monday.
ideaForge
said a key requirement during the assessment for the selection of unmanned aerial vehicles (UAV) was that all critical sub-components must be sourced from non-border-sharing nations, and that the platform be substantially indigenous in capability and design.
"ideaForge Technology has secured a significant win through the emergency procurement route. The order, valued at approximately Rs 137 crore, has been placed by the Indian Army for its high-performance hybrid
Mini UAV systems
, which are already battle-tested and inducted into the Army's inventory for ISR (Intelligence, Surveillance, and Reconnaissance) operations," the company said in the statement.
by Taboola
by Taboola
Sponsored Links
Sponsored Links
Promoted Links
Promoted Links
You May Like
Elegant New Scooters For Seniors In 2024: The Prices May Surprise You
Mobility Scooter | Search Ads
Learn More
Undo
Discover the stories of your interest
Blockchain
5 Stories
Cyber-safety
7 Stories
Fintech
9 Stories
E-comm
9 Stories
ML
8 Stories
Edtech
6 Stories
The company has its research and development and manufacturing units in Navi Mumbai, Bengaluru, Delhi, and the US.
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Hans India
13 minutes ago
- Hans India
Cabinet nod to upgrade TN highway
New Delhi: The Union Cabinet has given its nod for the construction of a 4-lane Paramakudi-Ramanathapuram section of the national highway 87 in Tamil Nadu, worth Rs 1,853 crore. The project aims to upgrade approximately 46.7 km of NH-87 from Paramakudi to Ramanathapuram to a 4-lane configuration, which will decongest the existing corridor, improve safety, and cater to the mobility needs of rapidly growing towns. "The project will not only enhance connectivity between major religious and economic centers but also boost tourism to Rameshwaram and Dhanushkodi, opening new avenues for trade and industrial development,' Union Minister for Information and Broadcasting Ashwini Vaishnaw said, briefing newsmen.
India Today
16 minutes ago
- India Today
HDB Financials listing: GMP signals premium on market debut. Check here
HDB Financial Services is set to make its stock market debut today, July 2, after a strong response to its initial public offering (IPO).The company's shares will be listed on both the BSE and NSE. HDB Financial Services is a subsidiary of HDFC Bank and its IPO closed on June 27 with nearly 27 times the of its debut, market trends and grey market data suggest that the listing may be positive. In the grey market, HDB Financial shares are reportedly trading at a premium of Rs 75 per share over the issue price. This implies an expected listing price of around Rs 815, which is about 10.14% higher than the IPO price of Rs 740 per analysts are expecting a listing gain in the range of 7% to 10%. Prashanth Tapse, Research Analyst at Mehta Equities Ltd, said that the strong investor demand shows confidence in the company's said, 'HDB Financial Services is finally set to debut on the Indian stock exchanges, and early indicators point to a healthy 8–10% listing gain, reflecting strong investor appetite.'Tapse also mentioned that the IPO attracted bids worth over Rs 1.61 lakh crore, highlighting strong interest from both institutional and retail company is part of the well-known HDFC Group and operates in the non-banking financial company (NBFC) sector. Analysts believe this connection with HDFC adds to investor trust and confidence in its long-term brokerage Emkay Global has also given a positive outlook for the stock. It initiated coverage on HDB Financial Services ahead of its listing, with a target price of Rs 900 per share. This reflects a possible 22% upside from the IPO price. The brokerage cited several reasons for its positive view, including the company's strong reach, large customer base, and a well-diversified business to Emkay, HDB Financial Services is not only geographically spread out but also has a varied product offering. The company's top 20 accounts make up only about 0.34% of its assets under management (AUM), showing how wide its customer base is. The firm has also successfully navigated through difficult credit cycles, including the Covid pandemic, and has built its business steadily over over 1.9 crore customers, HDB Financial Services is seen as a large-scale and stable lending platform in the NBFC space. Experts believe this gives it an edge in India's growing financial services markets open, investors will be watching closely to see how the stock performs in its first day of trading. The grey market premium and strong demand during the IPO suggest a good start, but the final response from the public markets will be revealed once trading begins.- Ends advertisement
Business Standard
23 minutes ago
- Business Standard
Indices poised for a flat start
GIFT Nifty: GIFT Nifty July 2025 futures were trading 2 points higher in early trade, suggesting a positive opening for the Nifty 50. Institutional Flows: Foreign portfolio investors (FPIs) sold shares worth 1,970.14 crore, while domestic institutional investors (DIIs) were net buyers to the tune of Rs 771.08 crore in the Indian equity market on 1 July 2025, provisional data showed. According to NSDL data, FPIs have bought shares worth Rs 45.87 crore in the secondary market during July 2025. This follows their purchase of shares worth Rs 8466.77 crore in June 2024. Global Markets: Asian stocks were mixed on Wednesday as investors evaluated recent comments from U.S. Federal Reserve Chair Jerome Powell. Powell stated on Tuesday that the central bank would have already cut interest rates if not for U.S. President Donald Trump's tariff policies. In Singapore, stocks touched a record high on Wednesday morning, supported by local market strength despite broader global uncertainty. Overnight in the United States, major indices ended the session with mixed results. The S&P 500 dipped 0.11% and the Nasdaq Composite declined 0.82%. In contrast, the Dow Jones Industrial Average rose 0.91%, reflecting some rotation into blue-chip stocks. Investor sentiment remained cautious ahead of the July 9 tariff deadline, when reciprocal tariffs are scheduled to be reimposed unless a resolution is reached. Tesla shares dropped 5.3% after President Trump criticized CEO Elon Musk, claiming he has benefited disproportionately from government subsidies. Trump also called for a review of Teslas federal support. The tension follows Musks public criticism of a large tax and spending bill, which narrowly passed in the Senate on Tuesday. The bill is expected to add approximately 3.3 trillion dollars to the national debt. It now moves to the House of Representatives for further consideration, with President Trump aiming to sign it into law by the July 4 holiday. Traders are now focused on Thursday's U.S. nonfarm payrolls report, which may influence the Federal Reserve's decision on a potential rate cut in July. Domestic Market: The domestic benchmark indices closed slightly higher on Tuesday. Investor sentiment remained cautious as markets awaited developments in U.S. trade talks ahead of the July 9 tariff deadline. Buying was seen in PSU banks, energy, and metal stocks, while FMCG and IT shares faced selling pressure. The S&P BSE Sensex rose 90.83 points or 0.11% to 83,697.29. The Nifty 50 index added 24.75 points or 0.10% to 25,541.80.
