KRAS receives $100 million contract from Rafael Advanced Defense Systems

Bharat Forge Ltd. | Forgings | Automobiles | BSE: 500493 | NSE: BHARATFORG

11 Jul 2019 Evaluate

Kalyani Rafael Advanced Systems (KRAS) has received a $100 million contract from Rafael Advanced Defense Systems for manufacturing 1,000 BARAK-8 MRSAM missiles' kits for the Indian Army and Air Force.

KRAS is a 49:51 ratio Joint Venture between Rafael Advanced Defense Systems and Kalyani Strategic Systems (KSSL), with the Indian partner holding 51%. KSSL is a 51% subsidiary of Bharat Forge.