ideaForge jumps 8% after Blue Diamond Properties buys stake via bulk deal

ideaForge Technology shares jumped 8 per cent in trade on Monday, April 1, 2025, logging an intraday high at ₹374.3 per share on BSE. The buying on the counter came after Blue Diamond Properties purchased 10,09,221 shares through bulk deals. 

 

Around 11:54 AM, ideaForge share price was up 4.85 per cent at ₹363.1 per share on BSE. In comparison, the BSE Sensex was down 1.49 per cent at 76,262.93. The market capitalisation of the company stood at ₹1,564.23 crore. The 52-week high of the stock was at ₹864.1 per share and the 52-week low was at ₹322.6 per share.

 

According to NSE bulk deal data, Blue Diamond Properties bought 10,09,221 shares at ₹344.95 per share, whereas Florintree Enterprise LLP sold 10,09,221 shares at ₹344.95 per share.   ALSO READ | Stock Market Crash LIVE Updates: Sensex tumbles 1250 pts to 76,170; Nifty at 23,200

 

As of the December quarter, Florintree Enterprise LLP  held a 10.68 per cent stake in the company. Meanwhile, individual promoters held 24.77 per cent stake. 

 

That apart, on March 27, 2025, Motilal Oswal Mutual Fund sold 3,10,035 shares at ₹344.39 per share. 

 

Besides, the company recently informed investors about its plan to spend more on research and development (R&D)this fiscal year, as it develops technology and product platforms in the unmanned aerial vehicle (UAV) space.

 

"The R&D spend last year was 22 per cent of our revenues. This year, depending on the revenue, the base may shift, but it will be on the higher side as compared to FY24," Ankit Mehta, co-founder and chief executive officer at ideaForge Technology Ltd said.

 

ideaForge Technology consolidated revenue from operations as of March 31, 2024, stood at ₹314 crore, while the profit after tax (PAT) was at ₹45.27 crore.  ALSO READ | Nifty down 1%, Sensex slides 1200 pts: Why are stock markets falling today?

 

For the latest December quarter, it reported a consolidated loss of ₹24.02 crore. It posted a PAT of ₹14.7 crore in Q3FY24, while the consolidated revenue for the same period dropped to ₹17.6 crore, from ₹90.9 crore in the corresponding period a year ago.

 

ideaForge is the pioneer and the pre-eminent market leader in the Indian unmanned aircraft systems (UAS) market. The company had the largest operational deployment of indigenous UAVs across India, with an ideaForge-manufactured drone taking off every five minutes for surveillance and mapping on average. 

 

In the past one year, ideaForge shares have lost 52 per cent against Sensex's rise of 4.5 per cent.