India, with one of the world’s most formidable armed forces, continues to prioritise defence as a key pillar of national strategy. The sector spans critical segments like military aircraft, naval vessels, and advanced missile systems.
In the Union Budget for FY26, the Ministry of Defence received a significant allocation of Rs. 6.81 lakh crore, a 9.5 percent jump from the previous year, with Rs. 1.80 lakh crore earmarked for capital spending on cutting-edge military assets.
Following are a few defence stocks that are currently trading at a discount of up to 43 percent from their 52-week highs to add to your watchlist:
Ideaforge Technology Limited
With a market cap of Rs. 1,955 crores, the stock surged nearly 2 percent to Rs. 468.25 on Wednesday. The stock hit its 52-week high at Rs. 794 on 30th July 2024, and compared to its current trading price of Rs. 452, the stock is trading at a discount of nearly 43 percent.
On the financial front, the company’s revenue from operations declined by around 85 percent YoY to Rs. 13 crores in Q1 FY26. The company swung to a net loss of Rs. 24 crore during the quarter, compared to a net profit of Rs. 1 crore in Q1 FY25.
ideaForge Technology Limited is primarily engaged in the business of manufacturing and marketing of Unmanned Aerial Vehicle (UAV) systems, used for security and surveillance. As of 30th June 2025, the company’s order book stood at Rs. 144.8 crores.
ZEN Technologies Limited
With a market cap of Rs. 13,756 crores, the stock hit a 5 percent lower circuit at Rs. 1,523.55 on Wednesday. The stock hit its 52-week high at Rs. 2,627.95 on 24th December 2024, and compared to the current trading price, the stock is trading at a discount of nearly 42 percent.
On the financial front, the company’s revenue from operations declined by around 38 percent YoY to Rs. 158 crores, while the net profit decreased by nearly 33 percent YoY to Rs. 53 crores in Q1 FY26.
Zen Technologies Limited is principally engaged in the design, development and manufacture of Training Simulators, Anti-Drone Systems and operations for Para-military Forces, Armed Forces, Security Forces, Police and Government Departments. As of June 2025, the company’s order book stood at Rs. 754.56 crores.
Taneja Aerospace & Aviation Limited
With a market cap of Rs. 1,117 crores, the stock is trading flat at Rs. 438 on Wednesday. The stock hit its 52-week high at Rs. 697 on 2nd August 2024, and compared to the current trading price of Rs. 438, the stock is trading at a discount of nearly 37 percent.
On the financial front, the company’s revenue from operations grew by around 51 percent YoY to Rs. 12.4 crores, while the net profit increased by nearly 143 percent YoY to Rs. 6.12 crores in Q4 FY25.
Taneja Aerospace & Aviation Limited is engaged in the business of manufacturing and sale of various parts and components to the aviation industry, providing services related to Airfield & Maintenance, Repair and Overhaul (MRO) and allied services.
Premier Explosives Limited
With a market cap of Rs. 2,477 crores, the stock surged nearly 3 percent to Rs. 472.75 on Wednesday. The stock hit its 52-week high at Rs. 711.40 on 30th July 2024, and compared to the current trading price of Rs. 460.8, the stock is trading at a discount of nearly 35 percent.
On the financial front, the company’s revenue from operations declined by around 15 percent YoY to Rs. 74.08 crores, while the net profit decreased by nearly 45 percent YoY to Rs. 3.75 crores in Q4 FY25.
Premier Explosives Limited is engaged in the manufacture of high-energy materials like bulk explosives, packaged explosives, detonators, detonating fuse, solid propellants, pyrogen igniters, pyro devices, etc., having applications in mining, infrastructure, defence, space, homeland security and such other areas. The company also operates and maintains solid propellant plants of defence and space establishments. As of March 2025, the company’s order book stood at Rs. 750 crores.
Written by Shivani Singh
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