India's Tirupati Forge jumps on defence manufacturing licence

Tirupati Forge

21/09/2026 05:27

** Shares of India's Tirupati Forge TIRF.NS hit 5% upper circuit at 71.06 rupees
** Co receives industrial licence under India's Arms Act to manufacture empty artillery shells 
** Move marks Tirupati Forge's entry into defence manufacturing, with co targeting both domestic and international customers
** Co says initial production capacity will be 150,000 units annually, with plans to scale up output
** Co plans to start pilot production in December 2026 before moving to full-scale commercial manufacturing; also plans to expand capacity
** YTD stock up 109.37%

 (Reporting by Surbhi Misra in Bengaluru)
 ((Surbhi.Misra@thomsonreuters.com |  X: https://twitter.com/SurbhiMisra_  |;))