Bharat Forge Soars On Signing Pact With Israeli Firm

Bharat Forge, a Pune-based company during Friday’s trading session jumped nearly 2% as the company’s subsidiary signed a pact with Israeli firm.

Kalyani Strategic Systems the subsidiary of Bharat Forge on Wednesday had signed a pact with Israel’s Aerospace Industries to build new maintenance centre in India for selected advanced air defence systems.

The two companies have also agreed on expanding their joint operations for development, manufacturing, and marketing of precise ammunition systems.

Bharat Forge on the NSE was trading at Rs 1121 per share higher by Rs 13 per share or 1.18%, paring its initial gains at around 1115 hours. The stock has given 50% returns in a period of one-year and has outperformed the BSE Sensex and BSE Auto indices over the same time span.

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