Indian drone-related firms rise; govt plans new incentive scheme

Zen Technologies

09/10/2024 10:17

** Shares of Zen Technologies  ZETE.NS , Paras Defence and
Space Technologies  PRAF.NS , and ideaForge Technology  IDEF.NS 
rise 2.2%, 8% and 2.1% respectively
        ** India's government is planning an incentive scheme
for the drone sector to enhance implementation and
documentation, a government official said at an industry body
event
    ** Paras and ideaForge manufacture drones, while Zen is
involved in the production of anti-drone systems
    ** ZETE set for biggest one-day gain in more than 2 months;
more than 414,000 shares traded, highest in over 2 weeks
    ** Vols on PRAF at highest since late-August, with 144,000
shares traded
    ** PRAF up 54.5% YTD vs 125% jump in ZETE; IDEF down 17%

 (Reporting by Aleef Jahan in Bengaluru)
 ((aleefjahan.cs@thomsonreuters.com))