Amid growing geopolitical tensions between India and Pakistan, shares of drone technology firms saw a sharp rally on Friday, May 9, 2025. Zen Technologies and Ideaforge Technologies—two of India’s prominent defense and drone solution providers—hit their upper circuit limits within minutes of the market opening, as investors turned bullish on defense-related counters.
Zen Technologies Soars Instantly, Hits Upper Circuit in a Minute
Zen Technologies opened the day at ₹1305 on the NSE and wasted no time climbing. Within just one minute of the opening bell, the stock surged to ₹1406.40—its upper circuit limit for the day. From there, it remained frozen at that price, with a flood of buy orders and no sellers in sight.
Despite being down around 43% year-to-date, Zen’s long-term story remains strong. Over the past five years, the stock has returned a staggering 3895%, turning early investors into big winners. Friday’s rally indicates renewed optimism around defense spending and Zen’s strategic relevance in India’s military preparedness.
Ideaforge Follows with a Flawless Rally
Ideaforge Technologies also saw explosive action. The stock opened at ₹386.30 and, taking a minor dip, marched straight up to ₹463.50—marking a full 21% intraday gain and hitting its upper circuit. The stock closed at that level, maintaining momentum throughout the session.
This kind of clean, uninterrupted rally is rare and signals strong conviction from investors. With the government likely to ramp up surveillance and defense capabilities, companies like Ideaforge—which specialize in unmanned aerial systems—are seen as key beneficiaries.
Defence Stocks in Spotlight
Friday’s action was a clear signal that investors are positioning for a possible uptick in defense expenditure. As geopolitical uncertainties rise, the market is placing its bets on firms that could directly benefit from increased security measures and indigenous defense development.
Whether these rallies are short-term reactions or the beginning of a longer trend remains to be seen. But for now, Zen Technologies and Ideaforge Technologies are clearly flying high—both on the charts and in investor confidence.