Shares of Power Motors Ltd soared 7% on Friday, 28 March, after the corporate introduced signing a contract with the Indian Defence Forces for an order of two,978 vehicles.
In its regulatory submitting, the corporate introduced, “We’re happy to tell you that the corporate has signed a landmark contract for an order of 2978 autos from Indian Defence Forces i.e. by Directorate Basic of Capb, Devp (CD-13/14) Basic Employees Department, IHQ of MoD (Military) New Delhi.”
Power Motors was chosen because the Indian Defence Forces’ L1 supplier for the acquisition of two,978 Power Gurkha mild autos (GS 4X4 800 kg Smooth High). The deal might be accomplished in a number of phases over a most of three years.
Power Motors has been within the defence enterprise for a very long time with the Gurkha LSV (Gentle Strike Car), a car famend for its sturdiness, off-road expertise, and adaptableness.
The Power Gurkha, particularly, has been engineered to flourish in probably the most demanding circumstances because of its unparalleled efficiency, better floor clearance, the best water-wading capability in its class, and distinctive manoeuvrability.
“We’re honored to proceed our affiliation with the Indian Defence Forces by this substantial order. Our autos are designed with a concentrate on high quality, reliability, ruggedness, and efficiency, aligning completely with the operational wants of our defence personnel. This order is a testomony to the belief and confidence Indian Defence Forces place in Power Motors,” mentioned Prasan Firodia, managing director of Power Motors.
Shri N. Ok. Firodia established Power Motors Restricted in 1958 with the intention of offering the final inhabitants with reasonably priced, dependable, and environment friendly transportation. With an emphasis on the design, improvement, and manufacturing of automobiles, elements, and elements, it’s at the moment a totally built-in automotive firm.
At 1:39 pm, the shares of Power Motors have been buying and selling 2.78% greater at Rs 9,032 on NSE.
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