Bharat Forge, a key player in India’s defense and manufacturing sector, saw its shares surge by nearly 6% on March 20, 2025. The rally followed the Indian government’s approval of a ₹7,000 crore deal to procure indigenous Advanced Towed Artillery Gun Systems (ATAGS). Bharat Forge, headquartered in Pune, Maharashtra, will receive approximately 60% of the contract, reinforcing its pivotal role in India’s self-reliant defense initiatives.
Bharat Forge, a leading Indian multinational company specializing in manufacturing and defense technology, witnessed a strong surge in its share price on March 20. The stock jumped nearly 6% in intraday trade on the Bombay Stock Exchange (BSE) following the Indian government’s approval of a ₹7,000 crore deal for the procurement of Advanced Towed Artillery Gun Systems (ATAGS).
Bharat Forge, headquartered in Pune, Maharashtra, is a major supplier of defense components and high-performance engineering products. The company has been a crucial contributor to India’s defense modernization efforts, particularly in artillery and precision manufacturing. The latest order will see Bharat Forge securing approximately 60% of the total contract, with the remaining 40% awarded to Tata Advanced Systems Limited.
Government’s Push for Indigenous Defense Manufacturing
The Cabinet Committee on Security (CCS) granted approval for the procurement of ATAGS, a domestically developed artillery gun system designed to enhance the Indian Armed Forces’ long-range firepower capabilities. The ATAGS is India’s first 155mm 52-caliber towed artillery gun, boasting an extended range of up to 40 km, along with advanced automated targeting and a reduced crew workload.
Developed through a collaboration between the Defence Research and Development Organisation (DRDO) and Indian private industry partners, the ATAGS incorporates over 65% domestically sourced components. Key subsystems such as the barrel, muzzle brake, breech mechanism, and firing system are all manufactured in India, reinforcing the country’s push for self-reliance in defense production under the ‘Make in India’ initiative.
Stock Market Performance
Bharat Forge shares opened at ₹814 on the BSE and quickly gained momentum, reaching an intraday high of ₹1,201.55, reflecting a 5.97% surge. As of 3:18 PM IST, the stock was trading at ₹1,194.65, up 5.36%. Over the past year, Bharat Forge has gained 9.47%, while in the last five years, the stock has soared by an impressive 297%.
Market analysts suggest that Bharat Forge’s strong fundamentals, along with the steady stream of defense sector contracts, could further bolster investor confidence. With the execution of the ATAGS order spanning FY26 and FY27, the company is expected to witness strong revenue growth in the coming years. The recent deal reaffirms Bharat Forge’s dominant position in India’s defense industry and enhances its prospects in both domestic and global markets.
With the Indian government’s continued focus on defense indigenization, Bharat Forge remains a key player in shaping India’s military self-sufficiency and technological advancements.
