A rifle developed jointly by Jindal Defence and Brazilian firm Taurus Arms has cleared a series of test by the Indian Army, online portal Indian Defence Research Wing has reported.
The clearance takes the T4 rifle a step closer to being selected for a contract to supply 425,000 rifles to the army, the portal said.
Following the development, Jindal Stainless stock price surged 2.5 percent to Rs 814.8 on BSE on June 10.
According to the report, the rifle went through various tests to check its reliability, durability and performance.
Taurus, which partnered Jindal Defence, is an expert in making small arms. The partnership has taken efforts to meet Indian Army’s requirements with an aim to give fillip to domestic manufacturing efforts and cut dependence on imports, the report said.
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