IdeaForge, a defense and security drone manufacturing company, experienced an 18% decline in share prices following a successful listing. This drop prompted investors to consider whether it presented an opportunity to buy the stock.
Stock market experts believe that IdeaForge Technology Limited has a promising future, as the company operates in the defense sector and is involved in the manufacturing of security drones. They anticipate improved financial performance in the upcoming quarters. However, they also acknowledge that like other defense companies, IdeaForge faces challenges in sustaining its business revenue.
Despite these challenges, high-risk investors are advised to enter the stock at its current levels with a stop loss at ₹1090. According to Vaibhav Kaushik, a research analyst at GCL Broking, IdeaForge’s status as a defense stock may lead to difficulties in sustaining its business. Yet, there is potential for the stock to rebound strongly from its current lows, making it a worthwhile investment for shareholders.
Furthermore, for investors seeking bargains, Kaushik suggests that if IdeaForge falls below ₹1100 on a closing basis, the stock may weaken. However, considering the success of defense-related investments in the current market, high-risk investors could consider taking a fresh entry at the current price levels, targeting ₹1345 per share in the short term. Again, the advice is to set a strict stop loss at ₹1090.
On the other hand, Anubhuti Mishra, an equity research analyst at Swastika Investmart, recommends that lucky allottees who benefited from the company’s listing profit should book their profits and exit their positions. Mishra points out that though IdeaForge has provided surprising returns, investors should lock in their gains due to associated business-related risks.
In conclusion, the recent decline in IdeaForge’s share price has sparked interest among investors. While some experts advise holding the stock for potential future gains, others suggest booking profits and exiting. It’s important for investors to carefully consider their risk appetite and individual investment strategies when deciding whether or not to buy IdeaForge shares.
