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Asia

Bharat Forge, Pratt & Whitney to Test Turboprop Engines in India's Drone Program

Bharat Forge (BOM:500493) will work with the Canadian unit of aircraft engine maker Pratt & Whitney to explore turboprop engine use cases in drones for an initiative led by India's Defense Research and Development Organization, the company said in a Tuesday bourse filing.The company said Pratt & Whitney will test compatibility and measure engine performance, while it will oversee installation design and systems interfaces, among other things.The Indian government agency is seeking suitable engines for its high-altitude, long-endurance (HALE) unmanned aerial vehicle (UAV) program, and the collaboration aligns with the country's broader "Aatmanirbhar Bharat" initiative, the company said.

BOM:500493NSE:BHARATFORG
Asia

Bharat Forge Simplifies German Subsidiary Structure Through Merger

Bharat Forge's (BOM:500493, NSE:BHARATFORG) wholly owned step-down subsidiary Bharat Forge Holding GmbH has merged with Bharat Forge Global Holding GmbH, its immediate holding company, according to a Thursday exchange filing.The merger was completed on Aug. 25 under German law, pursuant to a merger agreement dated Aug. 18.Bharat Forge Holding has ceased to exist as a result of the merger, the filing said.The company said the transaction was undertaken to simplify its German legal structure and has no impact on its standalone or consolidated financial statements.

BOM:500493NSE:BHARATFORG
Asia

Bharat Forge Unit Signs Defense Pacts With Thales, FN Herstal

Bharat Forge (NSE:BHARATFORG, BOM:500493) said its wholly owned defense subsidiary, Kalyani Strategic Systems, and Thales signed an alliance agreement to establish an industrial capability for 70-mm rocket systems in India, according to a Thursday exchange filing.The partnership will cover unguided and laser-guided rocket systems, with plans for technology transfer, local production, and distribution.The first fully assembled rocket made in India is targeted for early 2027.Separately, Kalyani Strategic Systems and FN Herstal signed a memorandum of understanding to explore a dedicated production center and potential strategic alliance or joint venture covering small arms, integrated weapon systems and counter-unmanned aerial system solutions.

BOM:500493NSE:BHARATFORG
Asia

Bharat Forge Unit Exits REFU Drive JV

Bharat Forge (NSE:BHARATFORG, BOM:500493) unit Kalyani Powertrain completed the disposal of a 50% stake in REFU Drive to REFU Elektronik, according to a Wednesday Indian bourse filing.REFU Drive, previously a joint venture company of Kalyani Powertrain and REFU Elektronik, has now ceased to a JV company of the seller, the filing said..

BOM:500493NSE:BHARATFORG
Asia

Bharat Forge to Invest INR2.4 Billion in Kalyani Strategic Systems

Bharat Forge (NSE:BHARATFORG, BOM:500493) board has approved an investment of up to 2.4 billion Indian rupees in wholly owned subsidiary Kalyani Strategic Systems.The investment will be made at fair value in one or more tranches by March 31, 2027, with Bharat Forge retaining its 100% stake in Kalyani Strategic Systems.Shares of the company fell over 2% in recent trade.

BOM:500493NSE:BHARATFORG
Asia

Bharat Forge to Incorporate Subsidiary in Malaysia

Bharat Forge's (NSE:BHARATFORG, BOM:500493) board approved the incorporation of a subsidiary in Malaysia, according to a Monday Indian bourse filing.The unit will reportedly undertake activities in the semiconductor niches and related areas.The incorporation is subject to the completion of the necessary approvals.

BOM:500493NSE:BHARATFORG
Asia

Bharat Forge Signs MOU for Airship Manufacturing Project

Bharat Forge (NSE:BHARATFORG, BOM:500493) signed a memorandum of understanding with the French-Canadian company FLYING WHALES to jointly develop, manufacture, and deploy advanced airships.The FLYING WHALES-Bharat Forge airships will be manufactured for India's defence and strategic operational requirements, according to a Wednesday Indian bourse filing.The cooperation centers around the LCA60T platform-FLYING WHALES next-generation heavy-lift airship which can transport up to 60 tonnes of cargo.

BOM:500493NSE:BHARATFORG
Asia

Bharat Forge Arm Completes Acquisition of 90% Stake in Aircraft Parts Manufacturer

BF Industrial Solutions, a wholly-owned subsidiary of Bharat Forge (NSE:BHARATFORG, BOM:500493), has completed the acquisition of a 90% stake in RS Aerostructures, according to a Wednesday filing with the Indian stock exchanges.With this, the aircraft parts manufacturer has become a step-down subsidiary company of Bharat Forge.

BOM:500493NSE:BHARATFORG
Asia

Indian Equities End Lower on Tuesday as Global Uncertainty Weigh on Sentiment

Indian benchmark indices closed in the negative territory on Tuesday as investors stayed cautious amid mixed global cues and renewed uncertainty around geopolitical tensions in the Middle East.The BSE Sensex fell 114.19 points, or 0.2%, to close at 75,200.85, while the NSE Nifty 50 declined 31.95 points, or 0.1%, to settle at 23,618.00.Market sentiment remained subdued as concerns over the U.S.-Iran conflict, elevated crude oil prices, and persistent weakness in the Indian rupee continued to pressure risk appetite.In earnings news, RITES (NSE:RITES, BOM:541556) slipped over 1% after reporting a marginal decline in fiscal fourth-quarter consolidated profit to 1.30 billion rupees from 1.33 billion rupees a year earlier.Eureka Forbes (NSE:EUREKAFORB, BOM:543482) also declined over 1% despite posting a higher quarterly profit of 510.3 million rupees compared to 495 million rupees last year.In other corporate developments, Bharat Forge (NSE:BHARATFORG, BOM:500493) ended lower by around 2% after its aerospace division signed an MoU with the Andhra Pradesh government to establish a marine gas turbine repair, overhaul, and development facility in Visakhapatnam.

^BSENifty 50BOM:500493BOM:541556BOM:543482NSE:BHARATFORGNSE:EUREKAFORBNSE:RITES
Asia

Bharat Forge Signs MoU To Set Up Marine Gas Turbine Development Complex in Andhra Pradesh, India

Bharat Forge's (NSE:BHARATFORG, BOM:500493) aerospace business has signed a memorandum of understanding with the state government of Andhra Pradesh, India, to set up a marine gas turbine (MGT) repair, overhaul and indigenous development complex in Visakhapatnam, according to a filing to the Indian stock exchanges on Tuesday.The company plans to set up private-sector complex over 80 acres within the Andhra Pradesh Defence Manufacturing Corridor, and will be co-located with the Naval Dockyard, INS Eksila, and Eastern Naval Command HeadquartersThe first phase will cover a full MGT repair and overhaul complex. It includes a hot section restoration of blades, vanes and combustion liners, component manufacturing, NDE laboratory, and a 72-hour turnaround capability for the Naval Dockyard, Visakhapatnam.Subsequently, in the second phase, the company will establish an MGT development and assembly hall, a full-spectrum hot test cell scalable across all propulsion ratings, the filing said.The company's shares were down nearly 1% in recent trade.

BOM:500493NSE:BHARATFORG
Asia

Jefferies Adjusts Bharat Forge's Price Target to INR2,500 From INR2,150, Keeps at Buy

Bharat Forge (NSE:BHARATFORG, BOM:500493) has an average rating of hold and mean price target of 1,768.32 Indian rupees, according to analysts polled by FactSet.

BOM:500493NSE:BHARATFORG
Asia

Indian Equities End Flat on Thursday as Earnings Support Offsets Weakness

Indian benchmark indices ended largely unchanged on Thursday as gains driven by earnings-related buying offset broader market weakness.The BSE Sensex fell 114.00 points, or 0.2%, to close at 77,844.52, while the NSE Nifty 50 slipped 4.30 points, or 0.02%, to settle at 24,326.65.Expectations of easing tensions between the US and Iran further supported investor sentiment. Tehran is reportedly reviewing the latest U.S. proposals aimed at ending the conflict.In corporate developments, Bharat Forge (NSE:BHARATFORG, BOM:500493) reported a decline in consolidated profit in fiscal Q4 to 2.33 billion rupees from 2.83 billion rupees a year earlier. Revenue from operations, however, rose to 20.3 billion rupees from 17.0 billion rupees.Larsen & Toubro (NSE:LT, BOM:500510) gained after its buildings and factories business secured three large orders from a real estate client for projects across three states, according to a filing. The company classifies large orders in the range of 25 billion rupees to 50 billion rupees.

^BSENifty 50BOM:500493BOM:500510NSE:BHARATFORGNSE:LT
Asia

Bharat Forge's Consolidated Net Profit Declines in Fiscal Q4; Shares Up 5%

Bharat Forge's (NSE:BHARATFORG, BOM:500493) consolidated net profit declined to 2.33 billion Indian rupees in the fiscal fourth quarter ended March 31, from 2.83 billion rupees a year ago.Earnings per share contracted to 4.86 rupees from 5.92 rupees a year earlier, according to a Thursday filing to the Indian stock exchanges.Revenue from operations, however, increased to 20.3 billion rupees from 17.0 billion rupees a year ago.The company's board recommended a final dividend of 6.50 rupees per equity share of the face value of 2 rupees each for the financial year ended March 31.Bharat Forge's shares were up nearly 5% in recent trade.

BOM:500493NSE:BHARATFORG

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