Drone stocks light up Dalal Street, rally up to 17% amid Indo-Pak tensions
India's growing reliance on unmanned warfare in its escalating conflict with Pakistan has sent shares of drone and defence technology firms soaring on Dalal Street.Stocks like ideaforge, Droneacharya Aerial Innovations, and ZEN Technologies rallied sharply on Friday, buoyed by investor bets on increased military procurement in the face of a widening conflict that has pushed India into direct military-to-military combat.advertisementShares of ideaforge Technology jumped nearly 17% to Rs 450 on the Bombay Stock Exchange (BSE) after Indian forces deployed suicide drones to neutralise air defence systems in Lahore and Multan. Meanwhile, Droneacharya gained 5%, ZEN Technologies advanced 5%, and Paras Defence rose almost 5% in intraday trade.
The market reaction came after a dramatic escalation in the Indo-Pak conflict.On Thursday morning, India conducted precision air strikes on nine terror hubs in Pakistan and Pakistan-occupied Kashmir, in retaliation for the Pahalgam terror attack that claimed 26 civilian lives. Pakistan retaliated with a volley of drone and missile attacks targeting military installations across Jammu and Kashmir.Officials confirmed that India used Harop suicide drones to destroy Pakistani air defence systems. India's integrated air defence network, consisting of indigenous, Russian, and Israeli-origin systems, was activated to intercept incoming threats. Defence sources claimed at least one enemy fighter jet was also brought down.advertisementAcross the Line of Control, tensions remain dangerously high. Heavy artillery fire was reported from Pakistani positions in Uri, Kupwara, and Poonch. Civilian areas in Punjab and Rajasthan experienced blackouts as sirens blared, with residents taking shelter amid fears of further strikes.The sharp rally in unmanned systems and defence stocks reflects investor confidence in India's long-term defence preparedness and self-reliance push. With India's FY26 defence budget pegged at Rs 6.81 lakh crore—Rs 1.8 lakh crore of which is marked for capital expenditure—analysts believe the government may further front-load or expand spending in response to the latest threats.Brokerages like Nuvama have long maintained a bullish stance on the sector. In a recent note, it estimated a $130 billion defence opportunity over five years, driven primarily by Air Force and Navy upgrades, including LCA Tejas, Astra missiles, AMCA jets, and advanced radar and electronic warfare systems.Tune In
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