Ashok Leyland share price gained more than 3 percent intraday on Friday on winning an order from the government for 10x10 vehicles to carry Smerch Rockets.
"....has won another critical order from the Ministry of Defence (MOD). The contract is for supplying Ashok Leyland's High Mobility 10x10 vehicles (HMV 10x10)," the flagship company of the Hinduja Group said.
It further said this order would end a long search by the Indian Army, who have been looking for HMV 10x10s to carry the Smerch Rockets.
This initial order is worth over Rs 100 crore.
Commenting on the order, Amandeep Singh, Head - Defence, Ashok Leyland, said, "We have won 12 of the 15 tenders we participated in last year, and this is a crucial win for us. This will pave Ashok Leyland's way for newer opportunities in providing mobility platforms for other missile carriers, missile launchers, modular bridges and other critical loads."
At 10:41 hours IST, the stock price was quoting at Rs 149.25, up Rs 4.35, or 3 percent on the BSE.
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