Latest news with #ideaForgeTechnology
Time of India
19-05-2025
- Business
- Time of India
Defence stocks detonate in Rs 1.8 lakh crore boom. Is a ceasefire on the charts?
With investors expecting a fresh wave of orders in the wake of Operation Sindoor , where India's indigenous missiles and desi drones danced past Pakistan's radars while our own airspace stood shielded with clinical precision, defence stocks have rallied by a jaw-dropping Rs 1.8 lakh crore from May 9. Drone-maker ideaForge Technology has led the sortie, soaring 56% (from May 8), while warship-builders Cochin Shipyard and GRSE have cruised ahead with 41% and 40% gains from May 9, respectively. Investors are betting that the government will respond to the success of indigenous weaponry on the battlefield with a fresh barrage of defence orders. The situation also opens a new frontier: exports. The numbers back the optimism. Alongside ideaForge's 56%, Mishra Dhatu Nigam , Zen Technologies , Paras Defence , and Data Patterns have all jumped over 30%. Defence PSU heavyweight HAL , the maker of Tejas jets and Dhruv helicopters, is up 16%. But for those tracking the sector's longer arc, the Sindoor spark is just the latest chapter. Between July 2022 and July 2024, the Nifty Defence index clocked a blistering 350% rally, only to crash 38% by February 2025 as markets turned cautious. Operation Sindoor has now reignited that fire—and how. Also read | Markets don't lie! Stock tickers in Shenzhen, Mumbai expose Pakistan's claims of victory According to Sanjeev B Zarbade of Antique, 'We continue to be positive on the Indian defence shipyards sector given strong order outlook, a robust policy framework favouring indigenisation, and substantial government investment.' Zarbade points to the Rs 8.45 lakh crore in Defence Acquisition Council (DAC) approvals between FY22–25, which is over 3.3x the amount cleared in the previous three years. The coming years could be flush with even bigger orders. 'We expect significant order inflows in FY26–27 for defence shipyards,' Zarbade said. The pipeline includes eight next-gen destroyers under Project 18 worth Rs 800 billion, and 12 submarines under Project 76 that could cost Rs 1,200–1,500 billion. India is also expected to firm up plans for a third aircraft carrier by 2028, with deployment eyed for 2038. Brokerage Jefferies has loaded up on optimism, maintaining Buy ratings on HAL (target Rs 4,715), Data Patterns (Rs 2,690), and BEL (Rs 325). The house expects robust double-digit EPS growth and strong capital efficiency, backed by the defence capex pipeline. But even as the cannons boom, some see smoke signals. Ashwini Shami, EVP and Senior Portfolio Manager at OmniScience Capital, warned that valuations have gone into combat mode. 'The Nifty India Defence index has rallied more than 60% from the Feb 25 bottom and currently trades at a P/E of 61,' Shami said, comparing it to the overheated July 2024 levels when the index traded at 73x earnings before a 38% fall. 'From a long-term horizon, we continue to believe in the defence theme as a potentially high-growth opportunity. We expect the defence budget to continue to expand, and the Indian defence players continue to enhance their capabilities across land, air, sea, and cyber domains. We believe in having a broad-based approach to take exposure to the defence theme. We find reasonable valuations in some of the DPSUs, strategic resource companies and select engineering & logistics firms. From a long-term investment viewpoint, follow valuation discipline, ignore hysteria and avoid momentum traps,' he said. Also read | War drums with Pakistan may force FIIs to hit brakes after Rs 50,000 crore buying spree Geojit's Anand James flagged technical exhaustion as well. 'The average daily RSI has surged past 70, entering the overbought zone. Stocks like GRSE, Mazagon Dock, Data Patterns, and BDL could be vulnerable to profit booking,' he said, though he noted that Cochin Shipyard and BEL could benefit from sectoral rotation. Speaking of Cochin Shipyard, not everyone is sold on its rally. Kotak Institutional Equities, in a notably cautious note, maintained a Sell rating. 'Cochin Shipyard results came in line, but the lack of naval orders remains a concern,' Kotak said. 'Ship repair orders for INS Vikrant and Vikramaditya have been key to CSL's performance, but these contracts are one-time in nature.' The firm added that possible tie-ups with global names like Maersk or Drydocks World could act as a catalyst, but for now, it has pegged the fair value at Rs 850. So, where does this leave investors? Trapped in the crossfire between explosive optimism and valuation anxiety. The fundamentals remain formidable: A rising defence budget, Make-in-India momentum, and the geopolitical necessity of arming smarter and faster. But as always in the markets, even the sharpest weapons can misfire when fired at the wrong price. As Shami summed up: 'Follow valuation discipline. Ignore hysteria.' (Data: Ritesh Presswala) ( 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
12-05-2025
- Business
- Economic Times
Ideaforge shares rally 8% despite calm skies over Pakistan
ideaForge Technology specializes in manufacturing Unmanned Aircraft Systems (UAS), producing UAVs tailored for mapping, security, and surveillance. Its drones are used in diverse applications, including mining area planning and detailed mapping solutions. Tired of too many ads? Remove Ads Tired of too many ads? Remove Ads Despite a halt in the tensions between India and Pakistan, which witnessed an escalation after India responded to the Pahalgam attack, the shares of ideaforge Technology surged as high as 7.9% to an intraday high of Rs 500 on the BSE 10:30 am, the total traded value of the stock stood at Rs 12.59 crore, with a total traded volume of 2.64 lakh shares. The total market capitalization of the company stood at Rs 2,121.36 crore. ideaForge Technology is engaged in the business of manufacturing Unmanned Aircraft Systems (UAS). The company produces Unmanned Aircraft Vehicles (UAVs) designed for mapping, security, and surveillance, with applications ranging from mining area planning to comprehensive mapping company had the largest operational deployment of indigenous UAVs across India, with an ideaForge-manufactured drone taking off every five minutes on average for surveillance and mapping. The indigenous design and technological capabilities allowed the Company to design, develop, engineer and manufacture UAVs in-house with control on performance, reliability and autonomy, according to the data available on also noted that the company had indigenously developed and manufactured vertical take-off and landing (VTOL) UAVs in India in the conflict erupted on Wednesday, the shares of ideaForge have rallied sharply by 37.6%. This is also in line with many defence stocks that rallied significantly amid the war India-Pakistan conflict , the most severe in nearly three decades, erupted on Wednesday when India launched strikes on nine terror sites in Pakistan in response to a prior attack in Kashmir that claimed 26 conflict on Wednesday as India conducted strikes on nine terror sites in Pakistan, retaliating against a prior attack in Kashmir that left 26 military officials reportedly sent a "hotline message" to Pakistan on Sunday, warning of potential retaliation if ceasefire violations continued.
Time of India
12-05-2025
- Business
- Time of India
Ideaforge shares rally 8% despite calm skies over Pakistan
Despite a halt in the tensions between India and Pakistan, which witnessed an escalation after India responded to the Pahalgam attack, the shares of ideaforge Technology surged as high as 7.9% to an intraday high of Rs 500 on the BSE today. At 10:30 am, the total traded value of the stock stood at Rs 12.59 crore, with a total traded volume of 2.64 lakh shares. The total market capitalization of the company stood at Rs 2,121.36 crore. ideaForge Technology is engaged in the business of manufacturing Unmanned Aircraft Systems (UAS). The company produces Unmanned Aircraft Vehicles (UAVs) designed for mapping, security, and surveillance, with applications ranging from mining area planning to comprehensive mapping solutions. The company had the largest operational deployment of indigenous UAVs across India, with an ideaForge-manufactured drone taking off every five minutes on average for surveillance and mapping. The indigenous design and technological capabilities allowed the Company to design, develop, engineer and manufacture UAVs in-house with control on performance, reliability and autonomy, according to the data available on Trendlyne. It also noted that the company had indigenously developed and manufactured vertical take-off and landing (VTOL) UAVs in India in 2009. Live Events Also read: Yes Bank rallies 9% after SMBC inks Rs 13,483 crore deal for 20% stake Since the conflict erupted on Wednesday, the shares of ideaForge have rallied sharply by 37.6%. This is also in line with many defence stocks that rallied significantly amid the war tensions. The India-Pakistan conflict , the most severe in nearly three decades, erupted on Wednesday when India launched strikes on nine terror sites in Pakistan in response to a prior attack in Kashmir that claimed 26 lives. The conflict on Wednesday as India conducted strikes on nine terror sites in Pakistan, retaliating against a prior attack in Kashmir that left 26 dead. Indian military officials reportedly sent a "hotline message" to Pakistan on Sunday, warning of potential retaliation if ceasefire violations continued. ( Disclaimer : Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of The Economic Times)
Time of India
12-05-2025
- Business
- Time of India
Defence, drone startups roll up sleeves to boost production
Homegrown defence and drone startups are seeing a surge in demand as the conflict with Pakistan spurs the Indian military to further bolster its arsenal. #Operation Sindoor India responds to Pak's ceasefire violation; All that happened India-Pakistan ceasefire reactions: Who said what Punjab's hopes for normalcy dimmed by fresh violations India needs to achieve scale by activating its manufacturing and engineering capabilities, instead of relying on foreign suppliers, according to the startups. Industry experts pointed to Israel developing advanced defence technologies arising from necessity due to conflicts, later benefiting from large export orders. India hasn't faced the same urgency so far, but stakeholders need to collaborate when the country's sovereignty is threatened, they emphasised. Play Video Pause Skip Backward Skip Forward Unmute Current Time 0:00 / Duration 0:00 Loaded : 0% 0:00 Stream Type LIVE Seek to live, currently behind live LIVE Remaining Time - 0:00 1x Playback Rate Chapters Chapters Descriptions descriptions off , selected Captions captions settings , opens captions settings dialog captions off , selected Audio Track default , selected Picture-in-Picture Fullscreen This is a modal window. Beginning of dialog window. Escape will cancel and close the window. Text Color White Black Red Green Blue Yellow Magenta Cyan Opacity Opaque Semi-Transparent Text Background Color Black White Red Green Blue Yellow Magenta Cyan Opacity Opaque Semi-Transparent Transparent Caption Area Background Color Black White Red Green Blue Yellow Magenta Cyan Opacity Transparent Semi-Transparent Opaque Font Size 50% 75% 100% 125% 150% 175% 200% 300% 400% Text Edge Style None Raised Depressed Uniform Drop shadow Font Family Proportional Sans-Serif Monospace Sans-Serif Proportional Serif Monospace Serif Casual Script Small Caps Reset restore all settings to the default values Done Close Modal Dialog End of dialog window. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Join the Public Sales XProtocol Learn More Undo ETtech "Capacities cannot be built in a day. During peacetime, people do realise the importance of building a military-industrial complex, but it often comes too late. Warfare has changed, and technology is now absolutely critical," said Vishal Saxena, vice president at ideaForge Technology , a drone manufacturer. He added that relying on foreign technology is a vulnerability during critical times in today's battlefield. IdeaForge's drone solutions--built for Intelligence, Surveillance, and Reconnaissance (ISR) mission--have been deployed in 'Operation Sindoor'. The startup placed on ground team to make any upgrades and support the military during the conflict. Industry stakeholders highlighted that the current geopolitical scenario has brought to fore the inefficiencies of relying on expensive missiles to defend against low-cost drone threats. Live Events "The unit economics of using a ₹2.5 crore missile to take down a ₹25,000 drone don't work. Our counter-drone technology aims to bring down the cost to below ₹10 lakh, by using drones to take down other drones instead of using missiles," said Santosh Balajee Banisetty, founder of Zebu Intelligence Systems . 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 Experts say identifying five core manufacturers and aligning them with upstream suppliers can aid in addressing capacity issues. Banks also need to provide working capital through confirmed orders, they suggest. Prof Satya Chakravarthy, who teaches aerospace engineering at IIT Madras, and founded The ePlane Company-a maker of eVOLT all-electric air taxi and drones-said he has received multiple inquiries from current and ex-defence personnel as well as defence-linked companies. ( With inputs from Swathi Moorthy )
Economic Times
07-05-2025
- Business
- Economic Times
Navigating the Future: Insights into the Booming Defense Sector
Sector Performance and Outlook Tired of too many ads? Remove Ads Top Companies Analysts Recommend Based on Upside Potential Company Name Current Price Recommendation Upside Potential ideaForge Technology Rs. 358.9 Strong Buy 49% DCX Systems Rs. 277.45 Strong Buy 33% Data Patterns(India) Rs. 2124.9 Buy 20% Bharat Electronics Rs. 307.5 Buy 9% Hindustan Aeronautics Rs. 4421.9 Buy 8% About Companies Tired of too many ads? Remove Ads The defense sector is currently experiencing a dynamic phase, characterized by a notable surge in activity and investment. Recent government initiatives, including the largest civil defense drill since 1971, have underscored the importance of military readiness and modernization. This proactive approach comes in the wake of heightened geopolitical tensions, particularly following Operation Sindoor, which targeted terrorist camps in Pakistan. The government's commitment to defense reform, as highlighted by the Ministry of Home Affairs and the Defense Minister's declaration of 2025 as a 'Year of Reforms', signals a robust focus on enhancing operational a recent dip in performance, the sector has shown remarkable resilience over the past year, with a significant increase in value. The long-term outlook remains positive, bolstered by substantial budget allocations for advanced weaponry, indigenous manufacturing, and border infrastructure. These investments are expected to sustain momentum in the sector, making it an attractive option for investors seeking stability amid global the defense sector continues to evolve, the potential for growth is substantial, with analysts projecting a maximum upside of 49% for select companies. This growth trajectory is supported by ongoing reforms, capital investments, and public-private partnerships, which are likely to enhance operational efficiency and innovation within the Technology Limited specializes in unmanned aircraft systems(UAS), focusing on the manufacturing and marketing of unmanned aerial vehicles(UAVs)for security and surveillance applications. The company offers a range of products, including vertical take-off and landing UAVs, along with advanced software solutions for UAV have a strong buy recommendation for ideaForge, with a target price of Rs. 540.00, indicating an impressive upside potential of 49%. The company's latest financial performance shows sales of Rs. 22.51 Cr, but it reported a net loss of Rs. 24.02 Cr, reflecting a significant year-over-year decline in profitability. However, the sales growth of 68.81% year-over-year indicates a strong demand for its products, positioning it well for future Systems is engaged in manufacturing electronic systems and sub-systems for the aerospace and defense sectors. The company provides a variety of services, including system integration and electronics manufacturing services, catering to both domestic and international a strong buy recommendation from analysts, DCX Systems has a target price of Rs. 360.00, representing a potential upside of 33%. The latest financial results show sales of Rs. 218.19 Cr and a net profit of Rs. 10.01 Cr, although it experienced a year-over-year decline in PAT growth of 25.19%. Despite this, the company has demonstrated resilience with a sales growth of 13.56% Patterns (India) is a vertically integrated provider of defense and aerospace electronics solutions, focusing on indigenously developed defense products. The company offers a wide range of electronic systems and components, catering to various defense recommend a buy for Data Patterns, with a target price of Rs. 2,640.00, indicating a potential upside of 20%. The latest financial data reveals sales of Rs. 128.41 Cr and a net loss of Rs. 44.66 Cr, with a year-over-year PAT decline of 12.38%. However, the company has achieved a sales growth of 14.63% year-over-year, showcasing its ability to expand despite Electronics ( BEL ) manufactures and supplies electronic equipment for defense and non-defense markets. The company is known for its advanced defense products, including radar systems, communication systems, and electronic warfare a buy recommendation from analysts, Bharat Electronics has a target price of Rs. 337.00, reflecting a potential upside of 9%. The latest financial performance shows sales of Rs. 5,957.07 Cr and a net profit of Rs. 1,310.95 Cr, with a remarkable year-over-year PAT growth of 52.51%. The company also achieved a sales growth of 14.29% year-over-year, indicating strong operational Aeronautics is a leading player in the aerospace sector, engaged in the design, development, and manufacture of aircraft, helicopters, and avionics. The company plays a crucial role in India's defense recommend a buy for Hindustan Aeronautics, with a target price of Rs. 4,850.00, suggesting an upside potential of 8%. The latest financial results indicate sales of Rs. 7,588.71 Cr and a net profit of Rs. 1,439.83 Cr, with a year-over-year PAT growth of 14.15%. However, the company has faced challenges, with a 22.69% decline in sales over the past six months.
