Component manufacturer Bharat Forge Ltd. signed a memorandum of understanding with French company Turgis Gaillard on Tuesday to acquire unmanned aerial vehicle technology, as per a disclosure to the exchanges.
Aarok is a MALE-class unmanned aerial vehicle developed to offer the best available technology at the lowest acquisition and deployment cost. The UAV flies at high altitude and performs long-range surveillance missions. Bharat Forge will establish an Aarok production line on site, the filing stated.
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"Aarok is permanently connected to command & control systems and other military assets, transmitting the information needed to establish an up-to-date tactical situation," the release said. "With a payload of over 1.5 tonnes of weapons fired from a safe distance, Aarok also makes a decisive contribution to supporting multi-domain operations by striking far behind enemy lines, disrupting enemy defences and neutralising their surface-to-air defence systems."
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The company had recently been in the limelight after the Defence Research and Development Organisation transferred the technology of the Mounted Gun System to Bharat Forge. The technology transfer event was attended by Samir Kamat, secretary of the Department of Defence Research and Development, and chairperson of DRDO.
Shares of Bharat Forge closed 1.74% lower at Rs 1,298.6 apiece, as compared to a 0.37% drop in the benchmark NSE Nifty 50.
Out of 29 analysts tracking the company, 13 maintain a 'buy' rating, seven recommend a 'hold,' and nine suggest 'sell,' according to Bloomberg data. The average 12-month consensus price target implies a downside of 11.5%.
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