Shares of ideaForge Technology Limited surged nearly 18.5 per cent on Monday morning, touching a fresh 52-week high of ₹724, as investors reacted to the drone maker’s strongest-ever quarterly results reported.

The stock was trading at ₹721.75 on the NSE as of 10.46 am, up ₹112.55 from its previous close of ₹609.20. It opened at ₹710 and has ranged between ₹682.60 and ₹715.90 in intraday trade. The counter featured in the NSE’s top 10 most active stocks, with over 64.85 lakh shares traded and a turnover of ₹457.87 crore by mid-morning. Total market capitalisation stood at approximately ₹3,121 crore.

The rally follows ideaForge’s Q4 FY26 results, in which the company posted its highest-ever quarterly revenue of ₹141.04 crore, up sharply from ₹20.31 crore in Q4 FY25. The company swung to a positive PAT of ₹59.99 crore in the quarter, compared to a loss of ₹25.71 crore a year ago. For the full year FY26, EBITDA turned positive at ₹27.12 crore against a loss of ₹31.53 crore in FY25. Total order booking for FY26 stood at approximately ₹530 crore, the highest in the company’s history, with an opening order book of ₹310 crore heading into FY27.

On a relative returns basis, the stock has significantly outperformed broader markets. It is up 80 per cent over the past month and nearly 88 per cent over the past year, against the Nifty 50’s gains of 6.4 per cent and losses of 0.7 per cent over the same periods. Year-to-date, ideaForge is up over 53 per cent while the benchmark index is down 7.5 per cent.

Sentiment has also been supported by strategic developments disclosed in the investor presentation, including the company’s first US order from the Lamar Police Department, becoming the first global drone company to train NATO forces at the US National Test Pilot School, and active development of combat drone capabilities. Sell-side pressure remains, with 54.97 per cent of the order quantity on the sell side against 45.03 per cent on the buy side, suggesting some profit-booking even as the stock holds near its highs.

Published on May 4, 2026