Ashish Kacholia portfolio stock Balu Forge surged over 9% on Thursday, February 26 following the company’s agreement with a NATO-affiliated organization concerning the provision of empty shells from its newly established manufacturing facility in Belgaum, Karnataka.
“This is the next phase of our journey post the onboarding onto the NATO supply chain & commercialisation of our empty shell line,” said in its exchange filing.
As per the exchange filing, the agreement encompasses the entire category of large-caliber ammunition, starting with the 155 mm M107 and the 152 mm & 155 mm ERFB/BT variants, with intentions to later include 105 mm, 120 mm, and 81 mm ammunition.
Under the Memorandum of Understanding (MoU), the company is set to deliver 30,000 units of 155 mm M107 ammunition each month and 10,000 units of 152 mm ammunition monthly, both in “ready-to-fill” condition, over a span of five years.
The volumes exceed the company’s existing production capability; nevertheless, strategies are already established to increase manufacturing past the current 360,000 units per year through internal funding. The negotiated price is USD 315 per unit for both the 155 mm M107 and the 152 mm ammunition.
Further the company said that the contract is established for a duration of 5 years beginning on 25th February 2026 and is legally binding for both parties involved. This MOU has been executed with an entity affiliated with NATO, and due to the confidential nature of the agreement and the sensitivity of the supplies, the identity of the end user has not been revealed at this time.
The phased commencement of supplies will begin in April 2026 and will increase gradually. The initial shipments will consist solely of 155 mm M107 and 152 mm variants. Following trials and the approval of the extended range variant (155 mm ERFB BB/BT), these will be incorporated as an addendum to this MOU.
As of the quarter ended September 2025, ace investor holds a 1.88% stake in Balu Forge Industries Ltd, amounting to 18,65,933 shares.
Balu Forge share price today
Balu Forge share price today opened at an intraday low of ₹447.05 apiece on the BSE, the stock touched an intraday high of ₹489 per share.
According to Rajesh Bhosale, Equity Technical and Derivative Analyst at , the stock is witnessing strong traction today, supported by healthy volumes, and has reclaimed its 20-DEMA while forming a higher-bottom structure on the daily chart.
“Considering the improving momentum, prices may extend the upmove towards the 89-EMA near 530. On the downside, the higher-bottom zone around 440 is likely to act as immediate support,” said Bhosale.
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