IdeaForge share price falls 18% as profit-booking follows bumper listing. Is this an opportunity to buy?

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₹1114.45 apiece in NSE, logging around 18 per cent loss from its life-time high of ₹1343.95 apiece. So, after bumper listing on Friday, this drone maker company's share price has fallen around 18 per cent that may attract bargain hunters of Indian stock market.

According to stock market experts, ideaForge Technology Limited deals in defence and security drone manufacturing and hence the company is expected to give better number sin upcoming quarters. however, they maintained that like any other defence company, ideaForge is also facing problem in sustaining its business revenue.

So, those who are ready to take high risk, they can enter in the stock at current levels maintaining stop loss at ₹1090 for immediate target of ₹1345. Advising high risk investors to buy ideaForge shares, Vaibhav Kaushik, Research Analyst at GCL Broking said, "ideaForge is a defence stock and defence companies generally find it difficulty in sustaining its business.

So, ideaForge is also going to face the same problem and hence shareholders of the company are advised to hold the stock as it may bounce back strongly from its lows." GCL Broking expert advised ideaForge shareholders to hold the stock with strict stop loss at ₹1090 apiece levels. On advice for bargain hunters in regard to ideaForge shares, Vaibhav Kaushik of GCL Broking said, "ideaForge shares may become weak if it breaches ₹1100 levels on closing basis.

However, they way defence theme is working on Dalal Street, high risk investors can take fresh entry at current levels for short term target of ₹1345 apiece levels." However, he advised strict stop loss at ₹1090 for fresh investors as well. After robust listing on Dalal Street, Anubhuti Mishra, Equity Research Analyst at Swastika