AI-generated image
Zen Technologies, once a beacon of India's burgeoning defence sector, has become a case study in how fast fortunes can turn in the market. A darling of investors for its anti-drone systems and combat training simulators, the company delivered a stunning rally—its stock surging over 12 times between March 2022 and December 2024. But the same market that once cheered its meteoric rise has now turned its back. In the last two months, the stock has shed over half its value.