Defence Inventory Information: Pune-based defence producer Bharat Forge is anticipated to obtain a significant order from Armenia for 80 items of ATAGS (Superior Towed Artillery Gun Methods), estimated to be price round Rs 2,000 crore, in keeping with market chatter. This comes on the again of an earlier profitable supply of 12 ATAGS to Armenia, additional strengthening India’s defence export narrative beneath the ‘Make in India’ push.
The deal, anticipated to be closed inside the subsequent 8–12 months, will probably be executed through its defence arm Kalyani Strategic Methods, a wholly-owned subsidiary of Bharat Forge. The group is a key contributor to India’s indigenous artillery functionality in partnership with DRDO, with its ATAGS able to putting targets as much as 48 kilometres.
Order guide swells previous Rs 9,400 crore
As of March 31, 2025, Bharat Forge’s complete order guide stood at Rs 9,420 crore, of which defence orders made up a dominant share. In FY25 alone, the corporate secured recent orders price Rs 6,959 crore, with almost 70 per cent coming from defence contracts. Notably, in This fall, Bharat Forge received orders price Rs 4,343 crore, together with Rs 3,417 crore for ATAGS alone.
Moreover ATAGS, the Kalyani Group additionally manufactures a various vary of combat-ready techniques, together with the Garuda 105_v2, MaRG 155-BR, and Bharat ULH gun techniques, in addition to protected mobility automobiles reminiscent of Kalyani M4, Mine Protected Car, and Armoured Personnel Service.
Inventory outlook
Regardless of the order buzz, Bharat Forge shares closed at Rs 1,223 apiece on Wednesday, down 1.75 per cent. Analysts counsel the inventory is within the oversold zone with technical assist pegged round Rs 1,200, whereas resistance lies close to Rs 1,270. A breakout above this might see the inventory rally in the direction of Rs 1,300 within the close to time period.
The inventory has rebounded almost 30 per cent from its April low of Rs 919, however nonetheless trades nicely beneath its 52-week excessive of Rs 1,770.
This potential Rs 2,000 crore order comes at a time when the federal government is pushing exhausting to place India as a worldwide defence provider, particularly in high-tech artillery techniques. A profitable deal couldn’t solely additional bolster Bharat Forge’s order pipeline but in addition give a sentiment enhance to the inventory, which stays a key beneficiary of the defence capex cycle.
Buyers’ take
Hold Bharat Forge in your watchlist. A confirmed mega-order from Armenia may act as a powerful catalyst for the inventory. With defence forming an growing share of its enterprise combine and strong traction in exports, the inventory gives long-term re-rating potential.
.jpeg?rect=0%2C0%2C1600%2C840&w=1200&auto=format%2Ccompress&ogImage=true "Higher Provisions, Soft Loan Growth On Cards")
