Defense stocks in India, including Paras Defence, Ideaforge Technology Ltd, and Zen Technologies Ltd, saw significant gains today, with some rising as much as 11% amid heightened global demand for unmanned aerial systems. The surge follows escalating tensions in the Middle East, where drones and missiles have played a critical role in recent conflicts, boosting investor confidence in the sector. Paras Defence, a manufacturer of military and tactical drones, climbed 10.90% to reach a high of Rs 750 per share, marking a 19% increase over four trading sessions. The company also provides drone management services, positioning it as a key player in the growing defense technology landscape. Its recent performance reflects broader optimism about the sector’s potential, driven by both domestic and international demand. Ideaforge Technology Ltd rose 4.56% to Rs 463.50, with the company citing improved momentum in India’s drone ecosystem during its Q3 earnings presentation. The firm highlighted the impact of the conclusion of Emergency Procurement Cycle 6 (EP6) and contract awards, which are expected to drive long-term growth. CEO Ankit Mehta noted that these developments have set the industry on an upward trajectory. Zen Technologies Ltd also gained 4.76% to Rs 1,409.30, as drones increasingly become essential tools for counter-insurgency and counter-terrorism operations. The company emphasized that recent global conflicts have accelerated the need for robust domestic capabilities, with India’s procurement efforts under EP6 and decentralized command-level purchases further fueling demand. The Middle East conflict has underscored the strategic importance of drones, with Iran’s use of unmanned systems and missiles against Israeli and U.S. targets in the region.#middle_east #paras_defence #ideaforge_technology_ltd #zen_technologies_ltd #emergency_procurement_cycle_6
