Economy
Ashika Initiates Coverage on IdeaForge with Buy Rating and 27% Upside
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THE BRIEF
1
Ashika Institutional Research initiated coverage on drone manufacturer ideaForge Technology with a buy rating and a target price of ₹942, indicating a 27 percent upside.
2
The brokerage highlighted a ₹200 billion Fast Track Procurement pipeline under the Defence Procurement Manual 2025 as a major demand catalyst for domestic drone makers.
3
Analysts project ideaForge's revenue to scale from ₹2,261 million in FY26 to ₹8,084 million in FY28, driven by operating leverage and military orders.