Kalyani Strategic Systems Limited announced on November 9 that it has received an export order worth $155 million to supply 155 mm artillery guns, which would be executed in a time period of three years.
The Bharat Forge-owned company did not disclose the buyer, only that it was in a conflict-free zone.
"We are pleased to inform that Kalyani Strategic Systems Limited, a wholly-owned subsidiary of the company, has been awarded an export order for a 155 mm artillery gun platform to be executed over a three-year timeframe. The total value of the order is $155.50 million," the company said in a statement.
"This order, to a non-conflict zone, is a great testament to the Government of India’s AatmaNirbhar Bharat agenda and its sustained push to promote exports of Indigenously Designed Developed and Manufactured (IDDM) advanced defence platforms from India," it added.
CNBCTV18 reported that shares of Bharat Forge Ltd hit a 52-week high on November 9 after the company's unit won the export order.
In addition to offering weapon systems to India and foreign countries, Kalyani is a major investor in the defence sector. ATDGS and a lightweight howitzer have been developed in collaboration with Defence Research and Development Organisation (DRDO).
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