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Shares of listed dronetech startup ideaForge surged as much as 13.6% to INR 526 during early trading hours on the BSE today.

The rally came two days after the startup unveiled its mapping UAV, the Q6V2 GEO. It then reportedly said that Q6V2 GEO is capable of mapping diverse terrains, from glaciers to urban corridors, delivering survey-grade accuracy and more than 50 minutes of flight time with LiDAR payloads.

Weighing under 7 kg, the UAV supports modular payloads, including photogrammetry, LiDAR, oblique imaging, hyperspectral sensing and thermal detection.

By 11:10 AM, the stock was still trading 10.6% higher at INR 512 on the BSE, pushing the startup’s market capitalisation to INR 2,212.07 Cr. The uptrend stood out against broader Indian indices, with both Sensex and Nifty 50 down 0.6% at the same time.

Despite today’s rally, ideaForge shares have delivered a negative return of 18% on a year-to-date basis. However, they have recovered some ground for the year, narrowing negative returns to 6.7% in the past one month.

On the financial front, the startup posted a weak quarterly performance. Its operating revenue fell 85% YoY and 37% QoQ to INR 12.8 Cr. It also reported a net loss of INR 23.6 Cr, compared to a net profit of INR 1.2 Cr in Q1 FY25, its fourth consecutive loss-making quarter.

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