Small-Cap Defence Stock IdeaForge Jumps 11% on Bagging Order Worth ₹100 Crore From Indian Army

IdeaForge shares jump up to 12% after orders from Ministry of Defence

IdeaForge Technology share price: Despite today’s sharp gains, IdeaForge Technology shares at its day’s high were still 21% lower from the 52-week high of Rs 661.25 apiece, which the stock had hit in December last year.

Small-cap defence stock IdeaForge jumps 11% on bagging order worth ₹100 crore from Indian Army

IdeaForge share price rose over 11% after securing more than ₹100 crore in new defence contracts, including ₹75 crore for the ZOLT tactical UAV and ₹30 crore for the SWITCH V2 drone from the Indian Army, signaling a significant order win this year.

ideaForge Shares Jump 12% On Fresh Order From Defence Ministry ideaForge Shares Jump 12% On Fresh Order From Defence Ministry

Shares of ideaForge skyrocketed 12% to INR 522.35 during intraday trading on the BSE today (November 17) shortly after it announced bagged two orders worth INR 107 Cr order from the Ministry of Defence on Friday.  The company’s shares closed today’s trading session 8.04% higher at INR 503. Its market capitalisation stood at $245.4 Mn (INR 2,175.46 Cr), up from the $230 Mn market cap it commanded at the end of last week.  The stock has delivered …