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HomeMarket NewsBharat Forge shares surge over 5% after reports of ₹2,770 crore order win from Indian Army
The order won by the Bharat Forge partnership is for the supply of 4.25 lakh close quarters batter (CQB) carbines, reports stated. The contract is part of the Indian Army's ongoing modernisation efforts, according to the reports.
Shares of Bharat Forge Ltd. gained 5% on Thursday, October 23, after reports stated that the company's partnership with PLR Systems has bagged the close quarters battle carbine order worth ₹2,770 crore from the Indian Army.
PLR Systems is a joint venture company between Adani Defence and Israel Weapon Industries.
The order is for the supply of 4.25 lakh close quarters batter (CQB) carbines, reports stated. The contract is part of the Indian Army's ongoing modernisation efforts, according to the reports.
The carbines replace outdated Sterling rifles. Its induction will begin in September 2026.
On another note, last week, Bharat Forge said it has extended its partnership with Rolls-Royce to manufacture and supply fan blades for the luxury auto brand's Pearl 700 and Pearl 10x engines.
The two companies started collaborating in 2020 when Bharat Forge began supplying parts for the Pearl 700 engines. For Rolls-Royce, this is a step forward in its commitment to double its supply chain sourcing from India by 2030.
Shares of Bharat Forge are currently trading 4.6% higher at ₹1,300.7. The stock has been flat on a year-to-date basis and has gained 4% in the last one month.
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