BNP Paribas emerged as the largest buyer in ideaForge Technology's bulk deal activity on Tuesday, acquiring over 5 lakh shares worth approximately ₹39 crore at ₹783.29 per share through its affiliate BNP Paribas Financial Markets. According to reports from The Economic Times, this transaction was executed within a narrow price band of ₹776 – ₹783 per share, indicating strong institutional demand for the drone technology firm. The concentrated buying activity highlights growing investor interest in the company, particularly amid increasing focus on defence and drone-related businesses.
Several other institutional investors participated in the bulk deal activity, demonstrating broad-based institutional interest. QE Securities LLP acquired 3.4 lakh shares at ₹779.23 per share, while NK Securities Research Private Limited purchased a similar quantity at ₹777.94 per share, translating into deals worth around ₹26 crore. HRTI Private Limited purchased 4.55 lakh shares at ₹776.98 apiece, and Junomoneta Finsol Private Limited bought 3.49 lakh shares at ₹780.2 per share.
Following the bulk deal activity, ideaForge Technology shares demonstrated strong market performance, reflecting positive investor sentiment. As reported by The Economic Times, the stock ended at ₹804.10, up by ₹73.10 or 10% over the Monday closing price. The stock has delivered multibagger returns of 111% over a one-year period, significantly outperforming the negative 1% returns by Nifty and negative 4% by the BSE Sensex. The strong traction in the market following the bulk deal activity reflects positive sentiment around the counter.
From a technical perspective, ideaForge Technology shares are currently trading above key moving averages, indicating positive momentum. According to Trendlyne data cited by The Economic Times, the stock is trading above its 50-day and 200-day simple moving average (SMA) of ₹457 and ₹468, respectively. This positioning above these technical levels suggests continued bullish sentiment among traders and investors, with the stock maintaining its strength above these key support and resistance levels.
