India, June 4 -- Shares of dronetech company ideaForge soared 5% to touch a new 52-week high of Rs.898.60 apiece on the BSE during intraday trade today.

The stock opened at Rs.898.60 per share this morning and has been locked in upper circuit since.

Market capitalisation of the company stood at Rs.3,898.81 Cr ($407.2 Mn).

The stock's upward movement comes a day after the dronetech company's board approved a proposal to raise up to Rs.500 Cr in its meeting held yesterday.

The proposed capital raise is subject to shareholder approval and other necessary regulatory clearances.

Shares have reached this high since October 3, 2023, where the stock rose to a high of Rs.906.95 apiece back then.

The stock has gained 82.6% year to date.

On t...