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Bharat Forge Bags 178 Crore Order From Defence Ministry To Manufacture Kalyani M4 Vehicles; Shares Up By Over 3 Per Cent
Kalyani M4 vehicle (Image Credits: @livefist Twitter account)
Pune-based Indian multinational company Bharat Forge limited has bagged an order worth Rs 177.95 crore from the Indian Ministry of Defence for the supply of Kalyani M4 vehicles.
After the development, the share price of the company went up and was trading at Rs 610 at 14:15 hours, almost up by 3.5 per cent from the previous day.
Earlier on Monday (22 February), Bharat Forge had announced a partnership with global aerospace and technology firm Paramount Group to manufacture armoured vehicles in the country. The said agreement was inked during the International Defence Expo held in Abu Dhabi.
"This collaboration brings together the manufacturing and technology excellence of two leading companies, which have matching synergies and complementary capabilities. The Kalyani M4 is a fantastic new generation vehicle, and we want to position it as the future of protection in all markets world-wide," Bharat Forge Deputy Managing Director Amit Kalyani said.
“It is intended that the ‘Kalyani M4’ will see service with the Indian armed forces in the very near future. The Kalyani M4 successfully completed a series of extreme vehicle trials in some of the toughest environments," a statement from the two companies said.
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