Defence Inventory Information: Pune-based defence producer Bharat Forge is predicted to obtain a significant order from Armenia for 80 models of ATAGS (Superior Towed Artillery Gun Programs), estimated to be value round Rs 2,000 crore, based on 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 throughout the subsequent 8–12 months, might be executed by way of its defence arm Kalyani Strategic Programs, 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 hanging targets as much as 48 kilometres.
Order e book swells previous Rs 9,400 crore
As of March 31, 2025, Bharat Forge’s whole order e book stood at Rs 9,420 crore, of which defence orders made up a dominant share. In FY25 alone, the corporate secured recent orders value Rs 6,959 crore, with almost 70 per cent coming from defence contracts. Notably, in This fall, Bharat Forge gained orders value Rs 4,343 crore, together with Rs 3,417 crore for ATAGS alone.
Apart from ATAGS, the Kalyani Group additionally manufactures a various vary of combat-ready methods, together with the Garuda 105_v2, MaRG 155-BR, and Bharat ULH gun methods, in addition to protected mobility autos similar to Kalyani M4, Mine Protected Car, and Armoured Personnel Provider.
Inventory outlook
Regardless of the order buzz, Bharat Forge shares closed at Rs 1,223 apiece on Wednesday, down 1.75 per cent. Analysts recommend 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 effectively under 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 world defence provider, particularly in high-tech artillery methods. A profitable deal couldn’t solely additional bolster Bharat Forge’s order pipeline but additionally give a sentiment increase to the inventory, which stays a key beneficiary of the defence capex cycle.
Buyers’ take
Maintain Bharat Forge in your watchlist. A confirmed mega-order from Armenia might act as a robust catalyst for the inventory. With defence forming an rising share of its enterprise combine and strong traction in exports, the inventory affords long-term re-rating potential.
