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Bharat Forge Secures Rs 6,900 Crore Defence Contract
- Bharat Forge and Tata Advanced Systems Limited (TASL) have signed a contract with the Ministry of Defence for 155mm, 52 calibre Advanced Towed Artillery Gun Systems (ATAGS) and high-mobility 6x6 gun towing vehicles.
- The total value of the contract is Rs 6,900 crore, contributing to the government's Rs 1.40 lakh crore defence contracts for the financial year 2024-25.
- Bharat Forge shares ended slightly lower at Rs 1,183 amid weak market sentiments, despite a recent 13% gain over the past month.
- The company's stock has been volatile, with a 1-year beta of 1.3, and is currently trading below its 200-day SMA but above its 50-day SMA.
- Bharat Forge reported a consolidated net profit of Rs 213 crore for the December 2024 quarter, a 19.6% decline from the previous year, with revenue falling 10.4% to Rs 3,514 crore.
Source: Business News India, The Economic Times
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