Defence Forging Company Secures Rs 4,140 Crore Contract for 184 ATAGS Artillery Systems, Covering 60 per cent of MOD’s Rs 6,900 Crore Procurement
The stock is up by 17 per cent from its 52-week low of Rs 1,002 per share. Investors should keep an eye on this this defence forging stock.
Bharat Forge Limited inked the largest domestic contract of 184 indigenously developed Artillery Systems with the Ministry of Defense. This accounts to 60 per cent of the Rs 6900 crore procurement by the MOD. The Advanced Towed Artillery Gun System (ATAGS) jointly developed with DRDO is the most advanced 155/52 mm calibre artillery system.
On the occasion, Baba Kalyani CMD, Bharat Forge Limited mentioned that it was a proud moment for the company. It is also a testament to the Honourable Prime Minister Shri Narendra Modi’s vision of an Atmanirbhar Bharat in Defense. We sincerely appreciate the unwavering support of the MOD, the Indian Army, DRDO, ARDE and our team at Bharat Forge for their invaluable efforts and collaboration.
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About Company
Bharat Forge Limited (BFL), a Pune-based Indian multinational, is a technology driven global leader in providing high performance, innovative safety critical components and solutions for several sectors including automotive, power, oil and gas, construction & mining, rail, marine, defence and aerospace. BFL has global manufacturing footprint with presence across five countries, with the largest repository of metallurgical knowledge and offers full service supply capability to its geographically dispersed marquee customers from concept to product design, engineering, manufacturing, testing and validation.
The company has a market cap of Rs 57,058 crore and has been maintaining a healthy dividend payout of 44.3 per cent. The stock is up by 17 per cent from its 52-week low of Rs 1,002 per share. Investors should keep an eye on this this defence forging stock.
Disclaimer: The article is for informational purposes only and not investment advice.