In early trading on Thursday, shares of Kirloskar Oil Engines went up by 5%, hitting an intraday high of Rs 765 on the BSE. This exciting news comes after the company won a big Rs 270 crore contract from the Defence Ministry. They will design and develop a 6MW Medium Speed Marine Diesel Engine for the Indian Navy.
The agreement, signed on April 2, 2025, in New Delhi, was attended by important officials, including Defence Production Secretary Sanjeev Kumar and Vice Chief of the Naval Staff Vice Admiral Krishna Swaminathan. The project is a major step towards creating marine engines right here in India.
The new engines, which will have over 50% local content, will cost Rs 270 crore to develop, with 70% of the money coming from the Government of India. This order also includes plans for designing a diesel engine that ranges from 3MW to 10MW, which will help power Indian Navy and Coast Guard ships.
Before this, many higher-capacity diesel engines were being imported from abroad. This project aims to make India more self-reliant in marine engine production. The Defence Ministry highlighted that this deal supports the government’s goal of boosting local manufacturing in defence and reducing dependence on foreign suppliers.
Earlier in March, there was exciting news for the Indian Army too. The Cabinet Committee on Security approved a Rs 7,000 crore plan to buy 307 advanced artillery guns called ATAGS. This is a big step towards making artillery guns within India.
The ATAGS are designed with a long barrel, allowing them to shoot up to 40 km, making them more powerful. They are easier to operate, helping reduce the work for the crew.
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