Why is Bharat Forge share price skyrocketing today? EXPLAINED
1 week, 6 days ago

Why is Bharat Forge share price skyrocketing today? EXPLAINED

Live Mint  

Shares of Bharat Forge witnessed strong gains in trade on Thursday, March 20, after the Cabinet Committee for Security approved a ₹7,000 crore deal for the acquisition of indigenous advanced towed artillery gun systems. "In a significant milestone for India's defence sector, the CCS approved the acquisition of Advanced Towed Artillery Gun System worth nearly ₹7000 crore, marking a major step towards self-reliance in artillery gun manufacturing," as per an official release. Out of ₹7,000 crore, about 60% of the order will be awarded to Bharat Forge and the remaining 40% to Tata Advanced Systems Limited. The ATAGS, India's first 155 mm artillery gun designed, developed, and made locally, is set to improve the Indian Armed Forces' capabilities with its advanced technology and powerful firepower.

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