India, March 19 -- Shares of ideaForge, which have been under heavy selling pressure over the past few months, zoomed 15.48% to INR 388.90 in the early trading hours on the BSE today.

At 12:20 PM, the stock was trading 12.35% higher at INR 378.35 on the BSE. At this point, the company's market capitalisation stood at INR 1,639.72 Cr and 9.3 Lakh shares changed hands till then.

The rise in the stock coincided with the recovery in the broader Indian market. Nifty 50 was trading 0.3% higher at 22,911.15 at 12:25 PM today, while Sensex was also up 0.2% at 75,476.68.

The rally in ideaForge's shares also came after they hit their 52-week low at INR 322.60 earlier this week on Monday (March 17). Yesterday, the stock gained nearly 4% to close ...