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Bharat Forge Limited and Paramount Group announce Agreement for Production of Protected Vehicles in India

Posted On: 2021-02-22 05:10:48 (Time Zone: Arizona, USA)


Global Aerospace and Technology company Paramount Group and India based Engineering & Technology conglomerate Bharat Forge Limited, announced a cooperation that will see them join the technologies, capabilities and expertise of both groups in order to manufacture Armoured Vehicles in India.

An agreement to this effect was signed by both companies during the International Defence Expo (IDEX 2021) held in Abu Dhabi.

The Kalyani M4 is a multi-role platform, designed to meet the specific requirements of armed forces for quick mobility in rough terrain and in areas affected by mine and IED threats. It offers best in-class levels of ballistic and blast protection - up to 50kg TNT side blast or IED/roadside bombs due to its innovative design, built on a flat-floor monocoque hull.

It is intended that the 'Kalyani M4' will see service with the Indian Armed Forces in the very near future. The Kalyani M4 successfully completed a series of extreme vehicle trials in some of the toughest environments in India.

Mr. Amit Kalyani, Deputy Managing Director, Bharat Forge Ltd said, "We are very pleased to partner with Paramount Group. This collaboration brings together the manufacturing and technology excellence of two leading companies, which have matching synergies and complementary capabilities. The Kalyani M4 is a fantastic new generation vehicle, and we want to position it as the 'future of protection' in all markets world-wide."

Mr Ivor Ichikowitz, Chairman of Paramount Group stated: "All of our technologies have been developed with portable production in mind. We believe this model of world-beating innovative technology is fundamental to enhancing any country's contemporary defence, and technology capabilities. The Kalyani M4 is based on one of our flagship armoured vehicles designed specifically for in-country production in India with our partners the Kalyani Group. We are proud that it will be made in India."

Shares of BHARAT FORGE LTD. was last trading in BSE at Rs.588.2 as compared to the previous close of Rs. 602.6. The total number of shares traded during the day was 104865 in over 2527 trades.

The stock hit an intraday high of Rs. 608.25 and intraday low of 584. The net turnover during the day was Rs. 62275429.


Source: Equity Bulls

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