Mumbai, September 5 (Kiran News) — Shares of Bharat Forge traded higher on Friday after the company announced that its step-down wholly owned subsidiary, Agneyastra Energetics (Agneyastra), had signed an agreement with the Andhra Pradesh Industrial Infrastructure Corporation (APIIC) to acquire land for a major defence project.
At 11:00 am, the stock was quoted at ₹1,135.00, up 0.25% from its previous close of ₹1,132.20 on the BSE. The scrip opened at ₹1,138.95 and touched an intraday high of ₹1,149.95 and a low of ₹1,130.90. About 10,255 shares were traded on the counter.
The BSE ‘A’ group stock, with a face value of ₹2, has a 52-week high of ₹1,629.40 (Sept 5, 2024) and a 52-week low of ₹919.10 (Apr 7, 2025). Its current market capitalisation stands at ₹54,380.19 crore. Promoters hold 44.07%, while institutional and non-institutional investors own 45.78% and 10.15% respectively.
Under the agreement, Agneyastra will purchase around 949.65 acres of land in Madakasira, Anantapur district, Andhra Pradesh, to establish an end-to-end Defence Energetics Manufacturing Complex. The facility will include a high explosives manufacturing unit, ammunition filling plant, gun propellant facility, and future provisions for advanced energetics in rockets, missile systems, and space launch vehicles.
The company said the land acquisition aligns with its long-term growth strategy and will help strengthen its presence in India’s expanding defence manufacturing sector.
Bharat Forge, a flagship company of the Kalyani Group, is engaged in the manufacturing of closed-die and open-die forgings, crankshafts, axle beams, steering knuckles, connecting rods, rocker arms, and other key components for automotive and industrial applications.
Bhupendra Singh Chundawat is a seasoned technology journalist with over 22 years of experience in the media industry. He specializes in covering the global technology landscape, with a deep focus on manufacturing trends and the geopolitical impact on tech companies. Currently serving as the Editor at Udaipur Kiran, his insights are shaped by decades of hands-on reporting and editorial leadership in the fast-evolving world of technology.
