Shares of Mumbai-based forging and precision engineering firm Bharat Forge Ltd were trading 3% lower on 31 July despite the company announcing that it has signed a contract with aerospace producer Pratt & Whitney Canada to establish a new ring mill for aerospace applications.

The new ring mill is scheduled to begin operations in 2026 and will assist both domestic and international aerospace programs, according to the business.

The facility is intended to produce high-performance aerospace goods for aero-engine applications while utilising cutting-edge technology and adhering to the highest worldwide quality and traceability standards, according to the business.

It would also help India achieve its goal of becoming a global aerospace production hub, according to the announcement.

“We are deepening our strategic relationship with Pratt & Whitney Canada through the establishment of this new ring mill. It not only reinforces our commitment to the global aerospace ecosystem but also marks a significant step in advancing India’s manufacturing capabilities in high-value aerospace components,” said Amit Kalyani, Vice-Chairman and Joint Managing Director, Bharat Forge Ltd.

Pratt & Whitney has been present in India for almost seven decades, with over 800 personnel working to build the next generation of reliable engines.

“This underscores our commitment to building a resilient global supply chain and advancing India’s aerospace ecosystem,” said Frederic Lefebvre, Vice President, Supply Chain, Pratt and Whitney Canada. 

At 12:11 pm, the shares of Bharat Forge were trading 2% lower at Rs 1,164.80 on NSE.

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