Shares of ideaForge Technology Ltd. experienced significant gains, rising over 10% after the company announced substantial new defense contracts worth approximately 107 crore from the Ministry of Defence. This includes a 75 crore order for the supply of its advanced tactical unmanned vehicle ZOLT, which was procured after comprehensive field trials, and a 32 crore contract for its hybrid UAV, SWITCH 2. The Indian Army’s increased reliance on UAV platforms for tactical and ISR operations underscores the growing importance of indigenous defense manufacturing capabilities. CEO Ankit Mehta emphasized the company’s commitment to innovation and indigenization, marking a pivotal shift in India’s defense procurement strategy. With recent contract wins indicating a recovery trajectory, investors are optimistic about ideaForge’s potential for sustained growth amidst a challenging market environment.