Shares of Bharat Forge rose over 4 per cent in afternoon trade on Tuesday after the company inked a pact with global aerospace and technology firm Paramount Group to manufacture armoured vehicles in the country. The stock gained 4.05 per cent to Rs 612 apiece on the BSE. On the NSE, it rose by 4.12 per cent to Rs 612.85. In afternoon trade, the benchmark 30-share Sensex was up nearly 180 points at over 49,922 points.
Bharat Forge has inked a pact with Paramount Group to manufacture armoured vehicles in the country. 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 on Monday.
Bharat Forge, Paramount ink defence deal
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Bharat Forge on Monday said it had inked a pact with global aerospace and technology firm Paramount Group to manufacture armoured vehicles in the country.
An agreement to this effect was signed by both companies during the International Defence Expo in Abu Dhabi, Bharat Forge said in a statement.
“This collaboration brings together the manufacturing and technology excellence of two leading companies. The Kalyani M4 is a fantastic new-generation vehicle, and we want to position it as the future of protection in all markets worldwide,” said Bharat Forge Deputy MD Amit Kalyani. The Kalyani M4 is designed to meet the specific requirements of armed forces for quick mobility in rough terrain and in areas affected by mine and IED threats.