Ashok Leyland has bagged a contract from the ministry of defence for supplying HMV 10x10 to carry Smerch Rockets, with an initial order worth over Rs100 crore. Photo: MintNew Delhi: Shares of Ashok Leyland Ltd on Friday closed over 3% higher on winning a contract from the defence ministry for supplying high mobility vehicles. Hinduja flagship firm Ashok Leyland said it has bagged a contract from the ministry of defence (MoD) for supplying high mobility 10x10 vehicles (HMV 10x10) to carry Smerch Rockets, with an initial order worth over Rs100 crore. Following the announcement, Ashok Leyland shares opened at Rs145.10 apiece and touched an intra-day high of Rs150.30, up 3.72% over the previous closing price. 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, said Amandeep Singh, head of defence at Ashok Leyland.

Source: Mint April 13, 2018 12:45 UTC