ideaForge Technology Ltd. has secured an order from the Ministry of Defence worth approximately ₹137 crores for the supply of Mini Unmanned Aerial Vehicles (UAVs) and accessories. The delivery timeline for the contract is 12 months. 

The stock rally was driven by broader sectoral momentum, as escalating geopolitical tensions in the Middle East spurred investor interest in domestic defence players. ideaForge hit the 10% upper circuit at ₹631.05, while Apollo Micro Systems Ltd. also locked in its 10% upper circuit at ₹214.00.

The gains came after the US launched missile strikes on Iran, raising concerns of a wider regional conflict. While benchmark indices like the Nifty and Sensex dropped over 1% amid global uncertainty, defence stocks surged on expectations of increased domestic procurement and strategic investment.

ideaForge’s fresh order adds to its growing presence in India’s defence and surveillance ecosystem. 

Let’s take a look at ideaForge’s Factor Analysis scores:

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