Zen Technologies to Ideaforge: Drone stocks hit upper circuit amid India-Pakistan conflict

Stock Market today: Drone stocks – Zen Technologies and Ideaforge skyrocketed up to 20% amid rising India-Pakistan conflict, hitting their upper circuit limits during the intraday trade on Friday. 

Zen Technologies share price hits upper circuit

Zen Technologies share price opened at ₹1295.15 on the BSE on Friday. The stock saw a soft opening at ₹1295.15, slightly lower than the previous day's close of ₹1339.44 amid weak markets. However, Zen Technologies share price started gaining and hit an intraday high of ₹1406.35, which was also its upper price band. Hence, Zen Technologies share price was locked in the upper circuit.

While Zen Technologies share price has corrected significantly this year, and is down almost 43% year-to-date, it is rebounding well. 

In the last five years, Zen Technologies share price has risen 3,895%, emerging as a multibagger stock for its investors.

Ideaforge Technology Share price movement

Ideaforge Technologies share price opened at ₹386.25 on the BSE on Friday. After opening at ₹386.25, only marginally higher compared to the previous close of ₹386, Ideaforge Technologies share price surged to an intraday high of ₹463.25. The intraday high reflected 20% gains for the stock, which was also the intraday upper price band for Ideaforge Technologies share price. Hence, Ideaforge share price was locked in the upper circuit.

According to media reports, India deployed Harop suicide drones to target and neutralise Pakistani air defence systems, underscoring its strategic shift toward unmanned warfare in the ongoing conflict with Pakistan.

The surge in drone-related stocks reflects growing investor confidence in the country's domestic drone manufacturing and operational capabilities.

“We maintain a positive outlook on the Defence sector owing to the ongoing geopolitical tensions, significant growth potential, increased defence budgets and increased investments in advanced technologies such as AI and robotics. We truly believe that 2025 is a “Year of Reforms” for the defence sector as India has proved its growing prowess in next-generation stand-off warfare. We believe that the private defence companies are set to benefit from the potential export opportunities while the PSUs will benefit from the domestic demands. We maintain our long-term positive view on Data Patterns, Bharat Electronics, Mazagon Dock Shipbuilders, Garden Reach Shipbuilders, Zen Technologies, Paras Defence and Technology and Hindustan Aeronautics,” said Krishna Doshi, Defence Analyst at Ashika Institutional Equity.

Disclaimer: The views and recommendations made above are those of individual analysts or broking companies, and not of Mint. We advise investors to check with certified experts before taking any investment decisions.