Live news , top stories, corporate news, company news, sector news, economy news, results analysis news, ceo interviews, fund manager interview, advisor interview, market news, bazaar talk, hot stocks news, ipo news, commodities news, mutual fund news, insurance news, news wire
24 March, 2018 06:11 IST
Bharat Forge's arm inks MoU with IAI to manufacture specific air defense systems
Source: IRIS | 16 Feb, 2017, 01.23PM
Comments  |  Post Comment

Bharat Forge's subsidiary Kalyani Strategic Systems (KSSL), the defense arm of Kalyani Group and Israel Aerospace Industries (IAI) signed a Memorandum of Understanding (MOU) to incorporate a Joint Venture Company (JVC) in India.

As part of the MOU IAI and KSSL are aiming to expand their presence in the Indian defense market and to Build, Market and Manufacture specific Air Defense Systems and Ground to Ground & Ground to Sea Munitions.

The MOU was signed in Bangalore, India, at the Aero-India exhibition by Joseph Weiss, IAI's President and CEO and Baba Kalyani, Chairman Kalyani Group.

The MOU is the first step of a process to establish a JVC between the two companies. The JVC will integrate strategic state-of-the-art defense systems for the Indian MOD in accordance with the Indian Government's 'Make in India' policy.

Shares of the company gained Rs 25.95, or 2.55%, to trade at Rs 1,044.20. The total volume of shares traded was 50,991 at the BSE (1.12 p.m., Thursday).

Bharat Forge Limited   (Q,N,C,F)*

Comments Post comment 
 Post Comment
Name Email
Security Code type    into this box
Company Update
Tata Steel identified as successful resolution application for acquisition of Bhushan Steel - 23-Mar-2018 12:36
Vakrangee ties up with Blue Dart Express - 23-Mar-2018 09:54
Suven Life Sciences secures 3 overseas product patents - 22-Mar-2018 12:24
Cox & Kings sells 11.58% stake in subsidiary - 22-Mar-2018 12:20
Steel Strips Wheels receives 7,000 wheel order from UK aftermarket - 22-Mar-2018 10:37
Zensar Technologies acquires US based Cynosure Inc - 22-Mar-2018 10:33
IRB Infrastructure Developers wins Rs 34 bn Hapur bypass BOT project - 22-Mar-2018 10:18
Sun Pharma announces USFDA approval of ILUMYA drug - 22-Mar-2018 09:39
Ashok Leyland bags orders for 2,100 buses from Tamil Nadu - 21-Mar-2018 10:17
Suzlon designs and produces India's longest wind turbine blade - 21-Mar-2018 10:11
Mphasis partners with Plug and Play - 21-Mar-2018 09:55
Home  |   Shares  |   F&O  |   Mutual Funds  |   Loans  |   Insurance  |   News Centre
Wealth Tracker  |   Newsletters  |   Tax Corner  |   NRI Centre  |   Advertise
© All rights reserved. IRIS Business Services Limited
A Disclaimer