ideaForge share price: Drone stock hits upper circuit after THIS order book update
Small-cap drone maker ideaForge Technology's stock hit its upper circuit on Monday, 23 June 2025, after the company announced that it had bagged a mini drone manufacturing order worth ₹ 137 crore from the Ministry of Defence, according to an exchange filing.
The order details show that the company will supply the Mini UAVs (drones) with their accessories within a time period of 12 months.
'This is to inform you that ideaForge Technology Limited has received an order worth approx ₹ 137 Crores (all inclusive) to supply Mini UAVs with accessories to Ministry of Defence,' said the company in the BSE filing.
ideaForge is a Mumbai-based manufacturer of Unmanned Aircraft Systems (UAS) or drones for security, surveillance, and other purposes.
Shares of the drone maker also surged more than 8 per cent in the second week of June as Israel's military strikes on Iran spiked the investors' interest in defence-related stocks.
ideaForge shares surged during Monday's stock market session, hitting its upper circuit after gaining 10 per cent to ₹ 631.65 during the intraday session.
Shares closed 10 per cent higher at ₹ 631.65, compared to ₹ 574.25 in the previous market close. The drone maker released the information on the Ministry of Defence drone order book update during the mid-stock market session on 23 June 2025.
The stock has lost 51.27 per cent since its listing on the Indian stock market in July 2023. In the last one-year period, ideaForge shares are down 22.48 per cent. However, on a year-to-date (YTD) basis in 2025, the shares have gained 1.07 per cent, and are trading 19.78 per cent higher in the last one-month period.
ideaForge shares hit their 52-week high levels at ₹ 864.10 on 12 July 2024, while the 52-week low level was at ₹ 301 on 7 April 2025, according to data collected from the BSE. The company's market capitalisation (M-Cap) was at ₹ 2,727.14 crore as of the stock market close on Monda, 23 June 2025.
Read all stories by Anubhav Mukherjee
Disclaimer: This story is for educational purposes only. The views and recommendations above are those of individual analysts or broking companies, not Mint. We advise investors to check with certified experts before making any investment decisions.
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