Bharat Forge shares trade in green as DRDO-carbine project worth Rs 2,000 crore gains traction
By Aditya Bhagchandani Published on June 23, 2025, 09:27 IST
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.
Ahmedabad Plane Crash
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.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Business Upturn
5 hours ago
- Business Upturn
Solar Industries shares in focus as defence arm secures 450 Nagastra-1R loitering munitions order from Indian Army
Solar Industries shares were in focus today after the company's defence subsidiary received an order for 450 units of Nagastra-1R loitering munitions from the Indian Army. As of 11:45 AM, the shares were trading 0.35% higher at Rs 17,056.00. BIG NEWS FOR SOLAR INDUSTRIES SOLAR IND: DEFENCE ARM GETS 450 NAGASTRA-1R LOITERING MUNITIONS ORDER FROM INDIAN ARMY — RedboxGlobal India (@REDBOXINDIA) June 23, 2025 The stock opened at ₹17,050.00 and climbed to a high of ₹17,164.00 during intraday trade, edging closer to its 52-week high of ₹17,300.00. The day's low was ₹16,910.00. The development has sparked renewed interest in the stock, which has already seen a strong rally over the past year, rising from a 52-week low of ₹8,482.50. 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. Ahmedabad Plane Crash Aman Shukla is a post-graduate in mass communication . A media enthusiast who has a strong hold on communication ,content writing and copy writing. Aman is currently working as journalist at
Business Upturn
5 hours ago
- Business Upturn
ideaForge secures Rs 137 crore defence order from Ministry of Defence to supply Mini UAVs
By Aditya Bhagchandani Published on June 23, 2025, 11:48 IST ideaForge Technology Limited announced on June 23 that it has received a significant order worth approximately Rs 137 crore from the Ministry of Defence for the supply of Mini Unmanned Aerial Vehicles (UAVs) along with accessories. The order is expected to be executed within a 12-month period. According to the company's regulatory filing, the contract is domestic in nature and does not fall under related-party transactions. It also clarified that no promoter or promoter group entities have any interest in the awarding body. The order involves a complete supply of Mini UAVs and associated accessories, marking another major step forward for ideaForge's contribution to India's defence capabilities. ideaForge, headquartered in Navi Mumbai, is known for its indigenous drone manufacturing and has previously supplied UAVs for various strategic and surveillance applications. 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. Ahmedabad Plane Crash 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.
Business Upturn
5 hours ago
- Business Upturn
Adani Enterprises commissions India's first 5 MW off-grid green hydrogen pilot plant
By Aditya Bhagchandani Published on June 23, 2025, 12:03 IST Shares of Adani Enterprises are expected to be in focus following the company's latest announcement that it has successfully commissioned India's first 5 MW off-grid green hydrogen pilot plant. The development was confirmed via a press release dated June 23, 2025. The project, located in Kutch, Gujarat, is powered entirely by solar energy and is integrated with a Battery Energy Storage System (BESS), allowing it to function independently from the power grid. Operated through a fully automated closed-loop electrolyzer system, the plant is designed to dynamically adapt to real-time renewable energy inputs, setting a new benchmark for renewable-powered industrial applications of green hydrogen. This initiative by Adani New Industries Limited (ANIL), a subsidiary of Adani Enterprises, is aligned with the Government of India's National Green Hydrogen Mission and is aimed at decarbonizing emissions-intensive sectors like fertilisers, refining, and heavy transport. The pilot plant also serves as a precursor to ANIL's larger Green Hydrogen Hub planned in Mundra, Gujarat, and reinforces Adani's commitment to energy transition and sustainable innovation. This milestone could provide a fresh boost to Adani Enterprises' green energy credentials and investor sentiment in the clean-tech space. 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. Ahmedabad Plane Crash 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.
