Ashok Leyland bags orders worth Rs 800 crore from Indian Army

Commercial vehicle manufacturer Ashok Leyland on Monday said it has bagged Rs 800 crore worth of 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 the defence mobility vehicles business,” said Shenu Agarwal, managing director and chief executive of Ashok Leyland.

Ashok Leyland, which is a part of the Hinduja Group, says the contract includes the procurement of the field artillery tractor (FAT 4x4) and the gun towing vehicle (GTV 6x6).

The FAT 4x4 and GTV 6x6 are specialised vehicles employed by the Artillery for towing light and medium guns, respectively. Both these platforms were prominently featured in the initial positive indigenisation list announced by the Indian government. The company will deliver these vehicles to the Indian army in the course of the next 12 months.

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“Ashok Leyland has invested in the development of a range of mobility platforms, including 4x4, 6x6, 8x8, 10x10 & 12x12, for various applications and operational requirements of the Indian Armed Forces. These platforms are indigenously designed, developed and manufactured by Ashok Leyland and contribute significantly towards import substitution,” Amandeep Singh, President – Defence Business, Ashok Leyland added.

Following the development, shares of the commercial vehicle major rose nearly 2 per cent to hit a 52-week high of Rs 174.7 apiece on the BSE. The stock gained 6.14 per cent in the last five trading sessions.