Drone stocks rally up to 15% as high-tech sky assassins dominate India-Pakistan conflict
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Indian stocks linked to unmanned warfare and defence technologies surged up to 15% on Friday, following New Delhi's drone-led precision strikes on Pakistani military installations, and after overnight attacks by Islamabad deepened hostilities along the western border.Shares of Ideaforge Technology soared as much as 14.71% to Rs 443 on the BSE, leading gains among listed Indian drone and defence stocks after Indian forces used suicide drones to neutralise air defence targets in Lahore and Multan. Droneacharya Aerial Innovations climbed 5% to Rs 68, ZEN Technologies rose 5% to Rs 1406.35, and Paras Defence and Space Technologies advanced 3.9% to Rs 1414.The broader Indian market opened lower on Friday after the army said Pakistani forces had launched multiple overnight drone and munition attacks along the country's western border, raising fears of further escalation. Blasts rang out across the Indian city of Jammu late on Thursday during a Pakistani drone and missile strike on military stations around the Kashmir region on the second day of cross-border clashes that have so far killed nearly four dozen people.The rally in drone-related stocks followed Thursday morning's air strikes by India, which marked a significant shift from previous military-on-terrorist operations to direct military-on-military engagement.Indian officials said Harop suicide drones were used to destroy Chinese-origin HQ9 air defence systems deployed by Pakistan. These systems had been used in Islamabad's attempted strikes on Indian military targets the previous night."Indian response has been in the same domain with the same intensity as Pakistan,' one official told The Economic Times, noting the destruction of an air defence system in Lahore.Pakistan attempted to strike 14 locations in India on Wednesday night—including Chandigarh, Bhuj, and Srinagar—using drones and missiles. Officials said India's integrated air defence grid, comprising indigenous, Russian-origin and Israeli-origin systems, successfully neutralised the incoming threats. An enemy fighter jet was also reportedly shot down.Debris recovered from the failed Pakistani strikes was cited by officials as proof of continued provocations.Defence Minister Rajnath Singh credited India's 'formidable and professionally trained armed forces' and their high-quality equipment for the precision of the response. A high-value airborne early warning system used by the Pakistani Air Force was also reportedly damaged in the raids.Meanwhile, Pakistani forces escalated firing across the Line of Control using mortars and heavy artillery in multiple sectors of Jammu and Kashmir, including Uri, Kupwara, and Poonch. Officials said India is responding strongly to these ground-based provocations.As combat intensifies in the air and along the border, the stock market is signaling investor confidence in India's growing defence manufacturing capabilities—particularly in the unmanned systems sector that has emerged at the forefront of the modern battlefield.: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of the Economic Times)
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