Latest news with #BharatForge
Time of India
an hour ago
- Business
- Time of India
Bofors fully transferred tech to India in 80s, I even proposed made-in-India guns to Cong govt, but...: Baba Kalyani's explosive reveal
India imported 400 Bofors guns from Sweden in the 1980s under the Congress regime, claimed Bharat Forge Chairman Baba Kalyani . Kalyani, who made the observations during an interview, said that along with the guns, India also received the complete technology transfer from the Swedish firm in the 1980s; however, this was never utilized to establish indigenous artillery gun manufacturing. Separately, he revealed that in 2011, he personally approached then Prime Minister Manmohan Singh and Defence Minister AK Antony to pitch domestically produced howitzer guns, but his proposals were met with, in his own words, a cold response. Reflecting on the origins of his interest in artillery manufacturing and the Bofors legacy, Kalyani said, 'What really got me excited was the connection between metallurgy and artillery guns. I still remember in the 80s, when the Bofors technology came in, it really was a transfer of technology of something which, if India has, is metallurgical strength, and that's what got me excited.' When Swedish firm Bofors tranferred its tech to India Despite the comprehensive technology transfer that accompanied the Bofors deal, Kalyani highlighted the exclusion of the private sector from defense manufacturing during that era. 'I still remember in the 80s, Sweden literally gave the total artillery technology package on a platter, but unfortunately, at that time, the private sector was locked out from defense manufacturing,' he lamented. Live Events Years later, Kalyani faced further hurdles in promoting indigenous defense technology. 'We showcased this gun in 2012, and I can tell you, the kind of, you know, skepticism that came out, it was as if, you know, we didn't exist,' he said, underscoring the prevailing reluctance to embrace homegrown innovation. This challenge was separate from the Bofors era, but continued to hinder domestic manufacturing. Recounting his efforts in 2011, he added, 'And literally, if I look at it, they kept on going back and buying stuff from outside, and I remember meeting every prime minister, every defense minister, and it was like a blank wall,' Kalyani explained, describing the perceived lack of support for indigenous efforts, even well after the Bofors scandal . 'Made-in-India a game changer' Adding to the frustration, Kalyani pointed out the cost-effectiveness of manufacturing within India. 'I was much cheaper than buying it from outside, so I used to keep wondering what is wrong with us, you know,' he stated, highlighting the missed economic opportunity. However, Kalyani expressed optimism about the shift in approach under the current government. 'I think the whole dream has come alive in this government,' he said, referring to the Modi administration's push for local manufacturing and self-reliance in defense. According to Kalyani, the "Make in India" initiative has been a game-changer. "So in December '14, when we had this Make in India conclave, that's where the real revolution started," he emphasized, noting its transformative impact on the sector. He also credited Manohar Parrikar, former Defence Minister, for bringing about crucial policy changes that opened the sector to private players. "I think the biggest change that happened was Manohar Parrikar came in, and the first thing he did was unleashed what is called the DPP 2016, where he opened it up to the private sector," Kalyani stated. The Bofors Scandal The Bofors scandal remains a prominent chapter in India's political history. The $1.4 billion deal to acquire 410 field howitzers from Swedish arms manufacturer Bofors in 1986 became embroiled in allegations of bribery and corruption, casting a shadow over defense procurements for years to come. While the technology transfer was part of the agreement, India's indigenous artillery manufacturing remained largely dependent on imports and public sector units for decades, per Kalyani's account.
Economic Times
a day ago
- Business
- Economic Times
Stocks to buy today: Bharat Forge, Trent among 5 trading ideas for Monday, June 9, 2025
Indian market is likely to trade higher on Monday, tracking positive global cues. ADVERTISEMENT The Nifty future closed positively with gains of 0.92% at 25090 levels on Friday. Indian VIX fell more than 3% to close at 14.63 in the previous trading session. On the options front, the maximum Call OI is placed at 25500 and then towards 26000 strikes, while the maximum Put OI is placed at 25000 and then towards 24800 strikes. Call writing is seen at 25500 and then towards 25600 strikes, while Put writing is seen at 25000 and then towards 24900 strikes. 'Options data suggests a broader trading range in between 24500 to 25500 zones while an immediate range between 24800 to 25200 levels,' Chandan Taparia, Analyst-Derivatives at Motilal Oswal Financial Services Limited, said. 'On the weekly chart, the index formed a strong bullish candle and is now on the verge of a potential Pole & Flag breakout. It formed a bullish candle on the daily chart on Friday as well, continuing its sequence of higher lows for the last three sessions,' he added. ADVERTISEMENT 'Now the index has to hold above 25000 zones for an up move towards 25200, then 25400 levels, while on the downside support is seen at 24850, then 24700 zones,' recommended Taparia. Bharat Forge: Buy| Target Rs 1355| Stop Loss Rs 1266 ADVERTISEMENT Oberoi Realty: Buy| Target Rs 2020| Stop Loss Rs 1855 Manappuram Finance: Buy| Target Rs 260| Stop Loss Rs 241 ADVERTISEMENT L&T Finance (June 26 Expiry): Buy| Target Rs 200| Stop Loss Rs 185 Trent (June 26 Expiry): Buy| Target Rs 6000| Stop Loss Rs 5675 ADVERTISEMENT (Disclaimer: Recommendations, suggestions, views, and opinions given by experts are their own. These do not represent the views of the Economic Times) (You can now subscribe to our ETMarkets WhatsApp channel)
Time of India
5 days ago
- Business
- Time of India
stock radar: Bharat Forge on Verge of Upside Breakout, Short-Term Traders Can Buy: Motilal Oswal - The Economic Times Video
'Bharat Forge stock has recently seen an upmove supported by good volumes and has consolidated in a range since last few days. Traders can buy for a target of Rs 1370 in the next few weeks,' Ruchit Jayantilal Jain, VP, Head – Equity Technical Research at Motilal Oswal Financial Services Limited, said.
Time of India
5 days ago
- Business
- Time of India
Bharat Forge on Verge of Upside Breakout, Short-Term Traders Can Buy: Motilal Oswal
'Bharat Forge stock has recently seen an upmove supported by good volumes and has consolidated in a range since last few days. Traders can buy for a target of Rs 1370 in the next few weeks,' Ruchit Jayantilal Jain, VP, Head – Equity Technical Research at Motilal Oswal Financial Services Limited, said. Show more Show less
Time of India
6 days ago
- Business
- Time of India
Stocks to buy today: Bharat Forge, Saregama among top 3 trading ideas for 4 June 2025
Indian markets are expected to open higher on Wednesday, buoyed by positive global cues. Nifty futures fell 0.69% on Tuesday, closing at 24,654, while India VIX dropped over 3%. Technical indicators suggest resistance at 24,750–24,850 and support at 24,200. A Bearish Engulfing pattern on the Sensex signals caution. Experts recommend stocks like Bharat Forge, Saregama, and Metropolis for short-term trades. Tired of too many ads? Remove Ads Tired of too many ads? Remove Ads (Expert: Jatin Gedia – Technical Research Analyst at Sharekhan by BNP Paribas, shared with ET Bureau) The Indian market is likely to trade higher on Wednesday, tracking positive global futures closed lower on Tuesday, declining 0.69% to 24,654. Meanwhile, India VIX fell over 3% to end at 16.56, indicating easing the options front, the maximum Call open interest (OI) is at the 25,000 and 25,500 strike prices, while the maximum Put OI is at the 24,600 and 24,500 writing was observed at the 24,600 and 25,000 strikes, while Put writing was seen at 24,300 and 24,550.'Options data suggests a broader trading range between 24,200 to 25,100 zones, with an immediate range between 24,300 to 24,800 levels,' said Chandan Taparia, Analyst – Derivatives at Motilal Oswal Financial Services 'Nifty50 settled with a loss of approximately 180 points on Tuesday, closing below its key support at the 20-day exponential moving average (20 DEMA),' he added.'Unless Nifty50 moves above 24,650, it may witness further profit booking towards 24,400 and then 24,200. Hurdles are seen at 24,750 and 24,850 levels,' Taparia the daily chart, the BSE Sensex formed a bearish candle along with a Bearish Engulfing pattern on Tuesday, signaling weakness and sustained selling pressure at higher Bank also formed a bearish candle on the daily chart, with some profit booking from higher levels, though it continues to trade well above its 20 | Target: Rs 1,315 | Stop Loss: Rs 1,247Buy | Target: Rs 595 | Stop Loss: Rs 540Buy | Target: Rs 1,765 | Stop Loss: Rs 1,680
