Ashok Leyland shares hit 52-week high on Rs 800 crore defence order wins

The contracts awarded also include the procurement of the Field Artillery Tractor (FAT 4×4) and the Gun Towing Vehicle (GTV 6×6).

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Ashok Leyland share price touched a 52-week high of Rs 174.60, rising nearly 2 percent intraday on July 17 on winning significant order worth at Rs 800 crores in the defence sector.

The contracts awarded also include the procurement of the Field Artillery Tractor (FAT 4×4) and the Gun Towing Vehicle (GTV 6×6).

The FAT 4×4 and GTV 6×6 are specialized vehicles employed by the Artillery for towing light and medium guns, respectively. Both these platforms were prominently featured in the initial positive indigenization list announced by the Government of India.

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Ashok Leyland’s selection for these crucial defence contracts underscores the company’s commitment to indigenous manufacturing and its position as a trusted partner for the Indian Armed Forces, Company said in an exchange filing.

“We are immensely proud to have secured these orders from the Indian Army. The Defence business has been a strong pillar of growth for us, and this win further establishes our leadership in Defence mobility vehicles business. This is also a testament to our firm commitment to providing advanced mobility solutions for our armed forces,” said Shenu Agarwal, MD and CEO, Ashok Leyland.

“We are grateful for the trust placed in Ashok Leyland by the Government of India, and we remain dedicated to contributing to the country’s indigenization efforts and self-reliance in defence manufacturing,” Agarwal added.

Over the course of the next 12 months, Ashok Leyland will diligently deliver these cutting-edge vehicles to meet the requirements of the Indian Army.

At 11:48 hrs Ashok Leyland was quoting at Rs 173.90, up Rs 2.20, or 1.28 percent.