Latest news with #IdeaforgeTechnology
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Business Standard
5 days ago
- Business
- Business Standard
Smallcap defence stock rebounds 9% from day's low; hits six-month high
Share price of Ideaforge Technology today Shares of Ideaforge Technology moved up 4 per cent to ₹654.40 on the BSE in Tuesday's intra-day trade amid heavy volumes. The stock price of the smallcap aerospace & defense firm bounced back 9 per cent from its intra-day low of ₹603 on the BSE. Ideaforge Technology's market price touched intra-day high of ₹660.50 in morning deals, also its highest level in the calendar year 2025. The stock has zoomed 120 per cent from its 3-month low of ₹301 touched on April 7, 2025. It had hit a 52-week high of ₹864.10 on July 12, 2024. At 02:47 PM; Ideaforge Technology was trading 2.4 per cent higher at ₹647, as compared to 0.2 per cent rise in the BSE Sensex. The average trading volumes at the counter jumped over 4-fold. A combined nearly 5 million equity shares changed hands on the NSE and BSE. Ideaforge secures ₹137 crore order from Ministry of Defence Ideaforge Technologies secured an order worth approximately ₹137 crore from the Ministry of Defence (MoD) for the supply of Mini unmanned aerial vehicles (UAVs) along with accessories. The delivery is scheduled to be completed within 12 months. FY25 saw a substantial slowdown for the broader drone industry in India, owing to the general elections in the first part and then the slow progress towards procurement initiatives, despite the latent demand. The industry started to regain momentum at the end of the year with the new emergency procurement cycle for Counter Insurgency Counter Terrorism (CICT) operations going into tendering phase in Q4, along with trials of many other civil programs as well towards the end of the same quarter. And thus, while the management did not see closure of opportunities to orderbook in Q4, they now see their healthy progression to the company's L1 pipeline. With the augmentation of new categories and greater focus on the global markets, the management said the company is seeing increasing momentum towards international opportunities and partnerships. The company intends to substantially increase the market opportunity for Indian drones globally and firmly establish them as a default part of the security, safety, and governance infrastructure of any country, city, or enterprise. About Ideaforge Technology Ideaforge Technology is the pioneer and the pre-eminent market leader in the Indian unmanned aircraft systems (UAS). The company is backed by leading investors including - Qualcomm, Infosys, Florintree, and other marquee institutional investors. It was ranked 3rd globally in 2024 as a top dual-use (civil & military) drone manufacturer by Drone Industry Insights, the world's leading drone market research and analytics company. Ideaforge has the largest operational deployment of indigenous UAVs across India, with an Ideaforge-manufactured drone taking off every three minutes for surveillance and mapping applications. Ideaforge customers have completed over 650,000+ flights using ideaForge UAVs.
Business Standard
7 days ago
- Business
- Business Standard
Ideaforge Tech hits the roof on bagging Rs 137-cr defence order for Mini UAVs
Ideaforge Technology hit an upper limit of 10% at Rs 631.65 after the company secured an order worth approximately Rs 137 crore, inclusive of all charges to supply Mini UAVs with accessories to Ministry of Defence. As per the significant terms and conditions, the delivery is to be completed within 12 months. The promoter, promoter group, and group companies have no interest in the entity that awarded the order. Additionally, the order does not fall within related party transactions. Ideaforge Technology (ideaForge) is the pioneer and the pre-eminent market leader in the Indian unmanned aircraft systems (UAS) market. It had the largest operational deployment of indigenous UAVs across India.
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Business Standard
7 days ago
- Business
- Business Standard
Why did defence stocks Avantel, Paras, Zen, Ideaforge zoom up to 10% today?
Private defence share price today Shares of private defence companies Ideaforge Technology, Apollo Micro Systems, ZEN Technologies, Paras Defence and Space Technologies and Avantel rallied up to 10 per cent on the BSE in Monday's intra-day trade amid heavy volumes in an otherwise weak market. At 11:45 AM; the BSE Sensex was down 0.64 per cent at 81,880. Reasons behind defence stocks rally? Among individual stocks, Ideaforge Technology was locked at the 10 per cent upper circuit at ₹631.65 on the BSE after the company received an order worth approx. ₹137 crore (all inclusive) to supply Mini unmanned aerial vehicles (UAVs) with accessories to Ministry of Defence. The time period for the contract to be executed is 12 months. The average trading volumes at the counter jumped nearly four-fold fold with a combined 4.03 million shares changing hands. There were pending buy orders for a combined 300,000 shares on the NSE and BSE. Shares of Apollo Micro Systems hit a record high of ₹213.85, as the surged 10 per cent on the back of four-fold jump in trading volumes. A combined 17.52 million shares representing 5.2 per cent to total equity shares of Apollo Micro Systems changed hands on the NSE and BSE. In the past one month, the share price of Apollo Micro Systems has zoomed 54 per cent from a level of ₹138.65. Looking ahead, the management of Apollo Micro Systems expects revenue to grow at a compounded annual growth rate (CAGR) of 45 per cent to 50 per cent over the next two years - driven solely by the core business, excluding any contribution from the recent acquisition. The growth in the forecast period can be attributed to an increase in territorial and political conflict, global population growth and urbanization, increasing infrastructure development expenditure by governments and increasing construction activities. Shares of Avantel rallied 7 per cent to ₹166 on the BSE in intra-day trade after the company said it received a purchase order worth of ₹13.67 crore for development of Software Defined Radios (SDRs) from Defence Electronics Applications Laboratory (DEAL), Defence Research and Development Organisation (DRDO). The time period for the contract to be executed is August 2027. Avantel has also received a purchase order worth of ₹11.06 crore from Mazagon Dock Shipbuilders Limited (MDL). The time period for the contract to be executed is from April 2026 to August 2029. Specialising in wireless and satellite communication products, Avantel serves clients of strategic importance in aerospace and defence sectors. Key clientele includes Indian Navy (Material organisation, Indian Coast Guard etc), Cochin Shipyard Limited, Goa Shipyard Limited (GSL), Garden Reach Shipbuilders & Engineers Ltd (GRSE), Bharat Electronics Limited, Lockheed Martin, Satish Dhawan Space Centre (SDSC) SHAR, Indian railways (through L&T), and The Boeing Company, among others. Shares of Zen Technologies were locked at the 5 per cent upper circuit at ₹1,995.30 after the company announced the approval of the acquisition of a majority stake in TISA Aerospace Private Limited (TISA), an emerging defence technology company specializing in indigenously developed loitering munitions and UAVs. TISA has already delivered systems meeting DRDO standards and is now developing new variants for the Indian Army, contributing to indigenous capabilities in next-gen tactical weaponry. This move is well-aligned with India's urgent need for self-reliance in defence capabilities, particularly in drones and loitering munitions. The management said they see strong potential in product integration across platforms, enabling the company to scale faster and compete more effectively in both domestic and global markets. Defence stocks look promising due to the ongoing geopolitical tussle between Iran and Israel. Moreover, the Indian government is likely to enhance defence spending from the current ~2 percent of GDP to 3 - 4 percent over the next decade. Further, the government has targeted ₹25,000 crore in defence exports by 2025-26, according to Sankhanath Bandyopadhyay, Economist at Infomerics Valuation and Ratings. Investors can focus on export-driven defence stocks with long-term potential. In the current scenario, geopolitical tensions will likely be lingering between different countries, especially as being reflected in rising tensions in the Middle East. Investors should carefully assess the financials and outlook of such stocks before investing, and there should be judicious mix so that a healthy dividend can also be earned, said Sankhanath Bandyopadhyay.
Time of India
7 days ago
- Business
- Time of India
Ideaforge Technology shares hit 10% upper circuit after bagging Rs 137 crores order to supply mini UAVs to MoD
Shares of Ideaforge Technology surged 10% to hit the upper circuit at Rs 631.6 on the BSE on Monday, following a major order win from the Ministry of Defence (MoD). The company announced in a stock exchange filing that it has secured an order worth approximately Rs 137 crore (all-inclusive) to supply Mini Unmanned Aerial Vehicles ( UAVs ) along with accessories to the MoD. The delivery is expected to be completed within 12 months. Also Read: 11 Nifty mid & smallcap stocks that can rally 40-90% over the next 12 months Ideaforge Technology share price target According to Trendlyne, the average analyst target price for Ideaforge Technology is Rs 388, implying a potential downside of around 39% from current levels. Of the two analysts tracking the stock, the consensus rating is 'Sell'. On the technical front, the stock's Relative Strength Index (RSI) stands at 56.6, indicating neutral momentum. It continues to trade above its 20-day, 50-day, 100-day, and 200-day simple moving averages (SMAs). Year-to-date, shares have risen around 64%, though the stock is still down about 18% over the past 12 months. The company's current market capitalisation is approximately Rs 2,727 crore. Also Read: Is the grey market premium misleading? Decoding the valuation gap in HDB Financial's IPO About Ideaforge Technology Ideaforge is one of India's leading manufacturers of Unmanned Aircraft Systems (UAS), catering to mapping, surveillance, and security needs across sectors such as defence, mining, and infrastructure. The company boasts the largest operational deployment of indigenous UAVs in the country, with one drone reportedly taking off every five minutes. It has in-house capabilities for designing, engineering, and manufacturing UAVs, ensuring high performance and reliability. A pioneer in India's drone space, Ideaforge developed vertical take-off and landing (VTOL) UAVs as early as 2009, setting the stage for its strong presence in both government and commercial drone applications. Also Read: Why stock market is falling today? Key factors behind 900-point Sensex crash, Nifty below 24,850 ( Disclaimer : Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of the Economic Times)
Economic Times
7 days ago
- Business
- Economic Times
Ideaforge Technology shares hit 10% upper circuit after bagging Rs 137 crores order to supply mini UAVs to MoD
Ideaforge Technology share price target Live Events About Ideaforge Technology (You can now subscribe to our (You can now subscribe to our ETMarkets WhatsApp channel Shares of Ideaforge Technology surged 10% to hit the upper circuit at Rs 631.6 on the BSE on Monday, following a major order win from the Ministry of Defence (MoD).The company announced in a stock exchange filing that it has secured an order worth approximately Rs 137 crore (all-inclusive) to supply Mini Unmanned Aerial Vehicles ( UAVs ) along with accessories to the MoD. The delivery is expected to be completed within 12 to Trendlyne, the average analyst target price for Ideaforge Technology is Rs 388, implying a potential downside of around 39% from current levels. Of the two analysts tracking the stock, the consensus rating is 'Sell'.On the technical front, the stock's Relative Strength Index (RSI) stands at 56.6, indicating neutral momentum. It continues to trade above its 20-day, 50-day, 100-day, and 200-day simple moving averages (SMAs).Year-to-date, shares have risen around 64%, though the stock is still down about 18% over the past 12 months. The company's current market capitalisation is approximately Rs 2,727 is one of India's leading manufacturers of Unmanned Aircraft Systems (UAS), catering to mapping, surveillance, and security needs across sectors such as defence, mining, and company boasts the largest operational deployment of indigenous UAVs in the country, with one drone reportedly taking off every five minutes. It has in-house capabilities for designing, engineering, and manufacturing UAVs, ensuring high performance and reliability.A pioneer in India's drone space, Ideaforge developed vertical take-off and landing (VTOL) UAVs as early as 2009, setting the stage for its strong presence in both government and commercial drone applications.: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of the Economic Times)
