Shares of Zen Technologies Ltd. and ideaForge Technology Ltd. rose by up to 2% following Defence Secretary Rajesh Kumar Singh’s announcement of forthcoming proposals for drone contracts valued at ₹30,000 crore. Speaking at Network18’s Reform Reloaded summit, Singh emphasized the government’s commitment to procuring Medium Altitude Long Endurance Drones and highlighted the importance of advancing technology in areas such as satellite imagery and precision ammunition. He noted that some “off-the-shelf” purchases would be necessary to bridge existing technology gaps. Zen Technologies anticipates a significant influx of orders for anti-drone systems, aiming for cumulative revenues exceeding ₹6,000 crore by 2026-2028, indicating a robust outlook for India’s defense manufacturing sector. This strategic move underscores India’s focus on enhancing indigenous capabilities in advanced military technology.