Bharat Forge shares gain after bagging biggest small arms deal with Defence Ministry

Shares of Bharat Forge opened higher on Wednesday, December 31, after the company signed its largest ever small arms contract with the Ministry of Defence for the supply of indigenously designed and developed CQB carbines, valued at ₹1,661.9 crore.

The Ministry of Defence has awarded Bharat Forge a contract for the supply of 255,128 CQB carbines in the 5.56 x 45 mm calibre for the Indian Army.

The agreement was signed on December 30, 2025, and provides for execution of the order over a five-year period.
The 5.56 x 45 mm CQB carbine is a compact firearm that has been indigenously designed, developed and manufactured under the IDDM category. It has been jointly developed by the Armament Research and Development Establishment of DRDO and Bharat Forge in Pune.

Commenting on the development, the company said the contract aligns with the Atmanirbhar Bharat mission, and reaffirmed that Bharat Forge and its wholly owned defence subsidiary, Kalyani Strategic Systems Limited, remain committed to equipping the Indian armed forces with advanced ‘Made in India’ defence equipment and platforms.

Shares of Bharat Forge ended Tuesday’s session 0.75% higher at ₹1,456.60. The stock has gained about 12% over the past one year.