<ul data-eligibleForWebStory="true"><li>Shares of ideaForge, a drone manufacturer, surged by 10% to INR 631.65 on the BSE due to a rally in defence stocks amid heightened geopolitical tensions.</li><li>The rise in defence stocks was fueled by conflicts between Israel and Iran, with the Nifty India Defence Index outperforming the broader market.</li><li>The Defence Secretary mentioned expected contracts worth around INR 2 trillion in FY26 and ambitious targets for defence exports by the Indian government.</li><li>ideaForge's stock performance has been volatile with sharp rises and corrections since its debut on Indian stock exchanges in 2023.</li><li>The company reported a net loss in Q4 FY25 despite efforts to diversify its revenue streams beyond drone manufacturing.</li><li>ideaForge, founded in 2007, focuses on manufacturing UAVs for defence, law enforcement, and various other sectors with a limited defense order book currently.</li></ul>

IdeaForge Shares Hit 10% Upper Circuit Amid Defence Stocks Rally

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