Jindal Stainless receives clearance for T4 rifle from Indian Army

Jindal Stainless Ltd.’s shares jumped 3.5% to ₹822.5, after a rifle developed jointly by Jindal Defence and Brazilian firm Taurus Arms successfully passed a series of trials by Indian Army. With this clearance, the T4 rifle moved a step closer towards being chosen for a contract to supply 4.25 lakh rifles to the Indian armed forces.