MoD signs contract with MDSL to supply Light Specialist Vehicles to Indian Army

Providing further boost to 'Make in India', Ministry of Defence (MoD) signed a contract with Mahindra Defence Systems Ltd (MDSL) for supply of 1,300 Light Specialist Vehicles to the Indian Army, at a cost of Rs 1,056 crore, in New Delhi on March 22, 2021. The induction of vehicles is planned to be completed in four years.

The Light Specialist Vehicle is a modern fighting vehicle and will be authorised to various fighting units for carriage of Medium Machine Guns, Automatic Grenade Launchers as well as Anti-tank Guided Missiles.

The Light Specialist Vehicle is indigenously designed and developed by MDSL. These combat vehicles are extremely agile with all round protection against small arms fire and will assist small independent detachments which are required to operate this weapon platform in the operational area.

This is a flagship project showcasing the indigenous manufacturing capabilities of the defence industry and will add another milestone to the 'Atmanirbhar Bharat Abhiyaan' and 'Make in India' initiative of the Government.

Shares of MAHINDRA & MAHINDRA LTD. was last trading in BSE at Rs.811.15 as compared to the previous close of Rs. 844.65. The total number of shares traded during the day was 93778 in over 3343 trades.

The stock hit an intraday high of Rs. 844.95 and intraday low of 809. The net turnover during the day was Rs. 77269053.

Source : Equity Bulls

Keywords