New Delhi, Feb. 26 -- Ashish Kacholia portfolio stock Balu Forge surged over 9% on Thursday, February 26 following the company's agreement with a NATO-affiliated organization concerning the provision of empty shells from its newly established manufacturing facility in Belgaum, Karnataka.

"This is the next phase of our journey post the onboarding onto the NATO supply chain & commercialisation of our empty shell line," said Balu Forge in its exchange filing.

As per the exchange filing, the agreement encompasses the entire category of large-caliber ammunition, starting with the 155 mm M107 and the 152 mm & 155 mm ERFB/BT variants, with intentions to later include 105 mm, 120 mm, and 81 mm ammunition.

Under the Memorandum of Understanding ...