Ashok Leyland, the Indian flagship of the Hinduja Group and the largest supplier of logistics vehicles to the Indian Army, on Monday announced significant order wins, valued at Rs 800 crore in the defence sector. Shares of the company rose nearly 2 percent in trade Monday to hit a 52-week high of Rs 174.60. The stock gained 6.71 percent in the last five trading sessions, while it rallied 16.62 percent on a year-to-date basis.

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The contracts awarded also include the procurement of the Field Artillery Tractor (FAT 4x4) and the Gun Towing Vehicle (GTV 6x6). The FAT 4x4 and GTV 6x6 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. 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.

"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. We are grateful for the trust placed in Ashok Leyland by the government, and we remain dedicated to contributing to the country's indigenization efforts and self-reliance in defense manufacturing," said Shenu Agarwal, MD and CEO at Ashok Leyland.

“Ashok Leyland's dependable mobility solutions have consistently remained a formidable asset within the defense sector, catering to the diverse needs of personnel and logistics across the armed forces. We are proud that we have been a leading example of ‘Atmanirbhar Bharat’, by serving alongside our forces through our products and solutions," said Amandeep Singh, President – Defence Business at Ashok Leyland.

"Ashok Leyland has invested in development of mobility platforms ranging from 4x4, 6x6, 8x8, 10x10 & 12x12 for various applications and operational requirements of Indian Armed Forces. These platforms are indigenously designed, developed and manufactured by Ashok Leyland and contribute significantly towards import substitution. This win is even more special as it comes at a time when we mark another milestone and celebrate our 75th year anniversary in September this year," Singh said.

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, the company said in a statement.