Balu Forge Shares Skyrocket 13% as IT Finishes its Search 

Shares of Balu Forge Industries Ltd skyrocketed 13% on Tuesday, 13 January, after the company reported that the income tax agency had not discovered any incriminating documents throughout its search.

According to the filing, the Income Tax Department (the Department) conducted a search under the Income Tax Act of 1961 at some of the company’s offices and production plants on 7 January 2026, which was completed on 13 January 2026.

The company, its promoters, and key managerial staff (KMP) fully cooperated with the officials and gave all papers, clarifications, and data requested by them. The Department found and seized no damning papers during their investigation. 
 
Furthermore, the company’s business operations and production continued uninterrupted by the search. There is no major unfavourable impact on the company’s financial status.

Aside from that, in December 2025, Balu Forge began operations at its greenfield manufacturing complex in Belgaum, Karnataka, with the launch of its empty shell production line, one of India’s first entirely indigenously manufactured lines. The plant, with an annual manufacturing capacity of 360,000 shells, includes an innovative forging and machining line for large calibre ammunition projectiles.

Balu Forge’s new empty shell production line improves its ability to provide cutting-edge machining solutions for defence applications. The company intends to increase its production line to fulfil global and domestic demand.

Balu Forge Sectors Limited is an Indian precision engineering firm that produces forged and machined components for a variety of worldwide sectors. The company provides a wide range of products, from 1 kilogram to 1,500 kg and up to 3 meters in length, for various applications, including automotive, industrial vehicles, earthmoving equipment, wind energy, aerospace, defence, oil and gas, railways, maritime, and agriculture.

At 1:12 pm, the shares of Balu Forge were trading % higher at Rs 468.30 on NSE.

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