India, June 23 -- Shares of drone manufacturer ideaForge jumped as much as 10% to INR 631.65 during the early trading hours on the BSE today, driven by a rally in defence stocks.

Defence stocks in India surged today primarily due to heightened geopolitical tensions, particularly the recent escalation between Israel and Iran. Over the weekend, the US launched missile strikes on Iran, targeting nuclear facilities and further escalating the conflict in the Middle East.

Even at 11:12 AM, ideaForge shares were hovering around the same range, trading 9.3% higher at INR 628.10 on the BSE.

At this point, its market capitalisation stood at INR 2,711.81 Cr, with a trading volume of 35.72 Lakh shares.

Despite weakness in the broader market (with...