Business Today
Shares of IdeaForge Technology surged nearly 12% in early deals on Monday on two order wins the company announced last week. IdeaForge announced two order wins, worth Rs 107 crore from the Ministry of Defence. The first order, valued Rs 75 crore, pertains to the supply of AFDS / Tactical class UAVs (Unmanned Aerial Vehicles) with accessories. Advertisement
The order needs to be executed within a 12-month period.
IdeaForge said it won another order from the Defence Ministry, for the supply of hybrid UAVs, with accessories. This order, valued at Rs 32 crore, needs to be executed within six months.
IdeaForge stock rose 11.67% to Rs 519.90 in the current session against the previous close of Rs 465.55. Market cap of the firm rose to Rs 2217 crore. The drone manufacturer's revenue in Q2 ros