Amid heightened geopolitical tensions between India and Pakistan, Indian defence stocks, especially those in the drone sector, witnessed a sharp surge in prices. 

On Friday, 9 May 2025, shares of Zen Technologies and Ideaforge Technologies hit their upper circuit limits, reflecting strong investor interest in companies focused on unmanned and advanced warfare technologies.

Why are Drone Stocks Rising?

The recent escalation in the India-Pakistan conflict has led to increased deployment of advanced defence technologies. Media reports suggest India used Harop suicide drones to target Pakistani air defence systems. This move highlights India’s shift towards unmanned warfare and has strengthened investor confidence in domestic drone and defence manufacturing capabilities.

Additionally, experts anticipate higher defence budgets, more investments in modern technologies like artificial intelligence and robotics, and potential export opportunities for Indian private defence players. These factors are contributing to a positive outlook for defence stocks in 2025.

Zen Technologies Share Price Movement

Zen Technologies, a leading player in defence training solutions and drone systems, saw its share price jump significantly during Friday’s trade. On 9 May 2025, the stock opened at ₹1295.15 on the BSE, slightly lower than the previous day’s close of ₹1339.44. 

Despite the weaker opening, Zen Technologies quickly gained momentum and surged to an intraday high of ₹1406.35, which was also its upper price band for the day. As a result, trading in the stock was locked in the upper circuit, marking a nearly 9% rise from the opening price. 

Ideaforge Technologies Share Price Movement

Another notable gainer was Ideaforge Technologies, a company specialising in unmanned aerial vehicles (UAVs). On 9 May 2025, Ideaforge’s share price opened at ₹386.25, marginally higher than the previous day’s close of ₹386. 

Soon after the opening, the stock surged sharply and reached an intraday high of ₹463.25. This reflected a full 20% jump from the opening price, resulting in the stock hitting its upper circuit as well. 

Ideaforge’s products, widely used in both defence and civilian sectors, have continued to attract strong investor interest amid the growing demand for UAVs.

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