Indo-Pak War: The war between India and Pakistan is expected to begin anytime. On Thursday night, India gave a befitting reply to the attack by Pakistan. India destroyed Pakistan’s fighter jet and hundreds of missiles. Tension in both countries is at its peak after the Pahalgam attack. Pakistan was attacked last night after India destroyed the terrorist camp. Defense sector companies have benefited from the situation of war in India and Pakistan. Defense sector companies are seeing great boom. Today, a drone manufacturing company shared an upper circuit. The company is named Ideaforge Technology. Let’s know about this company.
Attack with drone
Pakistan attacked India with a drone on Thursday night. In retaliation, India also attacked Pakistan’s military bases with drones. In view of the increasing activism and access of drones in Modern War, the shares of drone companies today had a great rise. Ideaforge Technologies Ltd. And Zen Technologies Ltd. There was a great rise in shares. While the shares of Ideaforge jumped 20%, the shares of Zen Technologies placed a 5% upper circuit.
The company’s revenue declines
Ideaforge announced its March quarter results on Thursday evening. The company’s revenue declined by 80%. The company made a net profit of ₹ 10 crore during the same quarter last year. At the same time, there has been a net loss of ₹ 26 crore this year. For the whole year, the revenue of Ideaforge was halved due to changes in order timeline and delay in government spending. The company is working closely with Resonia (Sterlite Group) to change the energy sector with drones and robotics technology.