Ashok Leyland Defence Systems has signed a Memorandum of Understanding (MoU) on cooperation with Russia’s Rosoboronexport and ELCOM Group on the sidelines of the International Military Technical Forum Army, held at Kubinka, near Moscow, recently, said Ashok Leyland in a BSE filing on Wednesday.
Rosoboronexport is the only state organisation in Russia for export of the entire range of military products and technologies. It represents Russian companies who are manufacturers of Infantry Fighting Vehicles and Main Battle Tanks, currently working with the Indian Army.
ELCOM group is an India-based emerging strategic electronics player primarily involved in designing, developing, manufacturing and deploying devices in the areas of Aerospace, Electronics and Communications.
Ashok Leyland was trading at Rs 112.70 per share, down by Rs 0.45 or 0.40% as at 1156 hours on Wednesday, on the BSE. The stock hit an intraday high and low of Rs 113.75 and Rs 111.60, respectively. It attracted a traded volume of 52,98,284 shares and traded value of Rs 5,953.15 lakh on the NSE.
Ashok Leyland is an India automobile manufacturing company headquartered in Chennai, India. It is owned by the Hinduja Group.
By Baishakhi Dutta
