New Delhi, Sept. 26 -- India's drone industry is moving beyond being a niche defence technology into a strategically important part of the country's military procurement architecture, and analysts expect this shift to create a multi-year opportunity for domestic drone manufacturers.

Ashika Institutional Research said drones had reached an inflection point following Operation Sindoor, the Russia-Ukraine war and conflicts in West Asia.

The brokerage initiated coverage on ideaForge Technology with a BUY rating and a target price of Rs.942, compared with its then current market price of Rs.741, implying 27% upside.

The brokerage's thesis was built around rising defence procurement, a protected domestic market, Ideaforge's technology capabi...