Drone Maker’s Stock Skyrockets At Market Open, ₹100 Crore Defence Contract Ignites Ideaforge’s Rally

Mumbai: Ideaforge Technology’s stock took off on Monday morning after the company announced a government contract topping Rs 100 crore. Right at market open, shares jumped almost 11 percent, climbing to Rs 519.90 on the BSE from Friday’s close of Rs 465.55. The stock started the day strong at Rs 492.50 and kept up the momentum. By early afternoon, it was still up over 10 percent at Rs 512.10, with the market clearly buzzing about the news.

So, what’s driving all this excitement? The Indian Army has placed big orders for Ideaforge’s Zolt tactical UAV and the all-terrain SWITCH 2 VTOL drone. The Zolt order alone is worth about Rs 75 crore, awarded after some tough field trials, electronic warfare tests, and strict checks to make sure everything meets the country-of-origin rules. On top of that, Ideaforge landed nearly Rs 30 crore for the SWITCH 2, solidifying its spot as a top drone supplier to India’s defence forces. Together, these contracts are among the biggest the company has bagged this year.

CEO and co-founder Ankit Mehta said this deal highlights Ideaforge’s push to deliver secure, AI-powered drones built for tough military missions. He pointed out that their focus on innovation and reliability keeps earning them trust in India’s defence sector.

Looking at the stock’s journey, Ideaforge closed at Rs 466 on the NSE last Friday, up nearly 1 percent. The company hit its 52-week high of Rs 660.55 back in December but touched a low of Rs 301 just this April. With these fresh defence deals, investor mood has clearly shifted—there’s a new sense of optimism, and it looks like Ideaforge could be turning a corner.

Disclaimer: This article is for informational purposes only and should not be considered investment advice. Stock markets are volatile; readers should consult a certified financial advisor before making any investment decisions.