Tembo Global Industries shares hit the 5% upper circuit in early trade after the company announced a major regulatory breakthrough in India’s defence manufacturing space. The rally came after its subsidiary, Tembo Classic Engineering Private Limited, received a Defence Manufacturing Licence from the Government of Maharashtra, marking a decisive step into the strategically important defence sector.
Tembo Global Industries Limited, listed on the NSE under the symbol TEMBO, is known for its industrial manufacturing and engineering capabilities. The newly granted licence allows the group to formally begin preparations for manufacturing small arms in India, aligning with the government’s push to strengthen domestic defence production.
The approval follows a Memorandum of Understanding signed at the World Economic Forum 2025 in Davos with the Government of Maharashtra. Under this agreement, the company plans to set up a small arms manufacturing facility in collaboration with Maharashtra Industrial Development Corporation (MIDC) in Mumbai. The proposed facility is expected to play a meaningful role in expanding India’s indigenous defence manufacturing capacity.
Disclaimer: The information provided is for informational purposes only and should not be considered financial or investment advice. Stock market investments are subject to market risks. Always conduct your own research or consult a financial advisor before making investment decisions. Author or Business Upturn is not liable for any losses arising from the use of this information.
