Ashok Leyland up 3% on order win of Rs 1,000 million for 10x10 vehicles

The stock was trading 3.3% higher at Rs 150 on the BSE after the company said it has won an order from the Ministry of Defence for 10x10 vehicles to carry the Smerch Rockets

Ashok Leyland was trading 3.3% higher at Rs 150 on the BSE after the company said it has won an order from the Ministry of Defence (MOD) for 10x10 vehicles to carry the Smerch Rockets.

“This order will end a long search by the Indian Army, who has been looking for HMV 10x10s to carry the Smerch Rockets, this initial order is worth over Rs 1,000 million,” Ashok Leyland said in a press release.

Commenting on the order, Mr. Amandeep Singh, Head - Defence, Ashok Leyland, said “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. This order is a testament of our mobility leadership in the Defence sector, and we will continue to partner our Forces in service of the nation."

Shares of Ashok Leyland trading close to its all-time high of Rs 152 recorded on March 15, 2018 during intra-day trade. A combined 9.48 million shares changed hands on the counter on the BSE and NSE so far.