IdeaForge Shares Rocket on Major Defence Contract Wins
In a significant market development, IdeaForge Technology witnessed a spectacular 11% surge in its share price during Monday's trading session. This impressive rally came directly on the heels of the company announcing it had secured defence contracts valued at over ₹100 crore, marking one of its most substantial order acquisitions this year.
Breaking Down the Defence Contracts
The Mumbai-based drone manufacturer revealed on Friday that it had received a substantial supply order from the Indian Army totaling approximately ₹100 crore. This order encompasses two of IdeaForge's advanced unmanned aerial vehicles - the tactical Zolt system and the versatile SWITCH 2 drone.
The emergency capital procurement order for the Zolt unmanned vehicle amounts to ₹75 crore. According to company statements, this contract followed what they described as a rigorous and comprehensive assessment process. This evaluation included extensive field trials conducted in electronic warfare environments and strict verification protocols regarding the country of origin for all components.
Simultaneously, the Indian Army placed an additional order worth ₹30 crore for the SWITCH 2, a hybrid drone capable of operating across diverse terrain conditions. These contract wins underscore the growing reliance of the Indian Army and Ministry of Defence on UAV platforms for tactical operations and Intelligence, Surveillance, and Reconnaissance (ISR) missions.
Technical Specifications and Delivery Timeline
The Zolt tactical UAV, which made its debut at Aero India 2025, represents a state-of-the-art platform designed specifically for long-range ISR operations and precision payload delivery missions. The Indian Army has placed its ₹75 crore order under the Capital Emergency Procurement scheme, with expected deliveries scheduled within the coming 12 months.
Meanwhile, the SWITCH 2 UAV, also showcased at Aero India 2025, has already proven its capabilities in active ISR operations. Deliveries for this ₹30 crore order are anticipated to be completed within a tighter six-month timeframe, demonstrating IdeaForge's operational efficiency.
Leadership Perspective and Market Reaction
Ankit Mehta, CEO and Co-Founder of IdeaForge Technology, expressed enthusiasm about these developments. "At IdeaForge, we continue to strengthen India's position in the global UAV ecosystem by driving performance, reliability, autonomy and resilience in every platform we build," Mehta stated.
He further elaborated that "the development of ZOLT stems from our technological foresight, deep investment in meaningful innovation, and commitment to indigenisation and electronic warfare resilience."
The market response was immediate and powerful. IdeaForge share price opened at ₹492.50 per share on the BSE, eventually reaching an intraday high of ₹519.90 while touching a low of ₹492 during the session.
Expert Technical Analysis
Anshul Jain, Head of Research at Lakshmishree, provided insightful technical analysis on IdeaForge's stock performance. He noted that the share price is building strength on the weekly chart, displaying a double bottom formation with a higher low pattern. This technical configuration signals a distinct shift in control toward buyers.
Jain highlighted that the recent gap-up opening has injected fresh momentum into the stock, setting it on course toward the neckline resistance at 556.25. "A clean move above 560 will confirm the pattern breakout," he observed.
The analyst added a crucial technical perspective: "If this breakout comes with strong volume, it can ignite sustained upside momentum, opening the door for a meaningful trend reversal. The structure is tightening, buyers are stepping up, and the price action is starting to cooperate—positioning IdeaForge for a potential bullish follow-through."
These substantial defence contracts not only validate IdeaForge's technological capabilities but also position the company favorably in India's rapidly expanding defence manufacturing sector, particularly in the strategic unmanned systems domain.
