IdeaForge, Zen Technologies, other drone stocks surge up to 20% amid India-Pakistan conflict

Shares of drone makers such as ideaForge Technology Ltd, Zen Technologies Ltd and Droneacharya Aerial Innovations Ltd surged on Friday amid rising tensions between India and Pakistan.

Ideaforge shares jumped 20% to hit a high of ₹463.20 on the BSE, taking the company’s market capitalisation to around ₹2,000 crore. This comes even as broader benchmark indices, the BSE Sensex and the Nifty 50, fell over 1% each. Anti-drone system maker Zen Technologies’ stock rose 5% to hit a high of ₹1,406.35 on the BSE. Similarly, shares of Droneacharya Aerial Innovations gained 5% to ₹68.13.

ideaForge Technology recorded a net loss of ₹25.7 crore in the fourth quarter of FY25, primarily due to a significant drop in revenue. In contrast, the company had reported a net profit of ₹10.3 crore during the same period last year. Revenue for the quarter plummeted by 80%, falling to ₹20.3 crore from ₹102.3 crore in Q4FY24, primarily because of rescheduled order timelines and postponed government expenditures. ideaForge on Thursday signed a Memorandum of Understanding (MoU) with Resonia to enable the adoption of advanced drone and robotics technologies in power transmission infrastructure projects across India.

“ideaForge has always been at the forefront of deploying unmanned systems for mission-critical applications. This collaboration with Resonia represents a significant step as we bring our advanced UAV technology to the energy sector. By streamlining survey, construction, and maintenance processes, we aim to reduce timelines and enhance safety, productivity, and reliability, especially in challenging environments,” said Ankit Mehta, CEO, ideaForge Technology.

Meanwhile, other defence stocks such as Bharat Dynamics , Bharat Electronics , Mazagon Dock Shipbuilders and Bharat Forge , among others were trading in the green.

Shares of Bharat Dynamics closed 5% higher at ₹1,531.15 on the BSE after rising as much as 10% in intraday trade. Shares of Mazagon Dock Shipbuilders Ltd gained 5% in intraday trade before closing 3.6% higher at ₹2,923.30 apiece on the BSE. The stock of Bharat Electronics closed 3% higher at ₹315.75 on the BSE.

Shares of Baba Kalyani-led Bharat Forge closed 5% higher at ₹1,166.05 on the BSE. Kalyani, in a interview to CNBC TV18 on Thursday, said that the government has called defence equipment manufacturers to Delhi. Kalyani Group’s Kalyani Strategic Systems makes artillery gun systems among other things.