Bharat Forge shares trade in green as DRDO-carbine project worth Rs 2,000 crore gains traction
Shares of Bharat Forge Ltd were trading in green on Monday morning, rising 0.88% to ₹1,289.60 after news reports, including one by IDRW, highlighted the company's significant involvement in a ₹2,000 crore Close Quarter Battle (CQB) carbine contract for the Indian Army. The Defence Research and Development Organisation (DRDO) and Bharat Forge's subsidiary, Kalyani Strategic Systems Ltd, emerged as the lowest bidder (L1) in a major procurement tender, as per the Indian Army's recent update.
The tender is aimed at replacing the decades-old Sterling carbines, with a modern, lightweight, and modular 5.56x45mm CQB carbine. Bharat Forge's manufacturing capabilities and investment in domestic defense infrastructure played a key role in securing the deal.
As of 9:22 AM, Bharat Forge shares were trading at ₹1,289.60, up ₹11.30 from the previous close of ₹1,278.30. The company's market capitalization stood at ₹614.73 billion. The stock has touched an intraday high of ₹1,288.70 so far. The move is expected to boost Bharat Forge's defense segment revenues and reinforce its standing as a major player in India's indigenization efforts under the Atmanirbhar Bharat initiative.
Disclaimer: The information provided is for informational purposes only and should not be considered financial or investment advice. Stock market investments are subject to market risks. Always conduct your own research or consult a financial advisor before making investment decisions. Author or Business Upturn is not liable for any losses arising from the use of this information.
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Aditya Bhagchandani serves as the Senior Editor and Writer at Business Upturn, where he leads coverage across the Business, Finance, Corporate, and Stock Market segments. With a keen eye for detail and a commitment to journalistic integrity, he not only contributes insightful articles but also oversees editorial direction for the reporting team.
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