Aerospace and defence company Ideaforge Technology Ltd fell over four per cent on Tuesday, June 24, 2025, even as the Sensex surged 1,000 points and the Nifty climbed above 25,300 amid easing tension in the Middle East after US President Donald Trump announced a ceasefire between Iran and Israel. The stock opened with a gain of 2.95 per cent at Rs 650.30 amid positive momentum in the stock market. However, the counter dipped to touch the low of Rs 603 on the BSE - a fall of 4.5 per cent from the previous close of Rs 631.65. The counter had hit a 10 per cent upper circuit in the last trading session.
When last seen, the counter was trading at Rs 618, with a loss of 2.34 per cent. The stock's 52-week high and low are Rs 864.10 and Rs 301. The company's market cap is Rs 2,656 crore.
On the NSE, the counter started today's session at Rs 654.50 against the previous close of Rs 631.05. It fell to touch the low of Rs 602.65 before hitting an intraday high of Rs 602.65.
What Is Behind This Dip
The stock has fallen despite the positive market momentum, as the Nifty India Defence has sharply declined. According to experts, the sector appears to be showing signs of exhaustion.
"Since April 1, 2025, the defence sector has rallied approximately 45.43 per cent, significantly outperforming the Nifty 50, which has gained only around 9 per cent during the same period. This clear outperformance was fueled initially by the India-Pakistan conflict, followed by strong expectations that the upcoming budget will include a record-high allocation to the defence segment, leading to sentiment-driven buying across the sector. Despite the strong uptrend, the sector appears to be showing signs of exhaustion," said Kunal Kamble, Senior Technical Research Analyst at Bonanza.