Bharat Forge on Tuesday received an order to the tune of Rs177.95cr from the Indian Ministry of Defence for the supply of Kalyani M4 vehicles.
The order was received from the Indian Army for Protected Vehicles under Emergency Procurement.
On Sensex, Bharat Forge stock closed at Rs607.95 per piece up Rs19.75 or 3.36%.
On Monday, the company agreed with Global Aerospace and Technology company, Paramount Group to manufacture Armoured Vehicles in India.
In its regulatory filing, Bharat Forge that time had highlighted that the Kalyani M4 is a multi-role platform, designed to meet the specific requirements of armed forces for quick mobility in rough terrain and areas affected by mine and IED threats. It offers the best-in-class levels of ballistic and blast protection - up to 50kg TNT side blast or IED/roadside bombs due to its innovative design, built on a flat-floor monocoque hull.
Bharat Forge on Monday said that it is intended that the ‘Kalyani M4’ will see service with the Indian Armed Forces in the very near future. The Kalyani M4 successful series of extreme vehicle trials in some of the toughest environments in India.