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Shares of Ashok Leyland ended higher by over 3 per cent as the company has won a contract from the Defence Ministry for supplying high mobility vehicles.
Hinduja flagship firm Ashok Leyland has bagged a contract from the Ministry of Defence for supplying High Mobility 10x10 vehicles (HMV 10x10) to carry Smerch Rockets, with an initial order worth over Rs 100 crore.
Following the announcement, shares of the company opened at Rs 145.10 apiece and touched an intra-day high of Rs 150.30, up 3.72 per cent over the previous closing price. The stock ended at Rs 145.45 per unit, up 3.14 per cent on the BSE.
On the NSE, the stock opened at Rs 145.90 and touched an intra-day high of Rs 150.55. It finally ended at Rs 149.30, up 2.89 per cent.
Ashok Leyland’s HMV 10x10 has been fully developed in India and the order will end a long search by the Indian Army, which has been looking for HMV 10x10s to carry the Smerch Rockets, the company said in a statement.
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