Shares of Force Motors Ltd soared 7% on Friday, 28 March, after the company announced signing a contract with the Indian Defence Forces for an order of 2,978 automobiles.
In its regulatory filing, the company announced, “We are pleased to inform you that the company has signed a landmark contract for an order of 2978 vehicles from Indian Defence Forces i.e. by Directorate General of Capb, Devp (CD-13/14) General Staff Branch, IHQ of MoD (Army) New Delhi.”
Force Motors was chosen as the Indian Defence Forces’ L1 provider for the acquisition of 2,978 Force Gurkha light vehicles (GS 4X4 800 kg Soft Top). The deal will be completed in multiple phases over a maximum of three years.
Force Motors has been in the defence business for a long time with the Gurkha LSV (Light Strike Vehicle), a vehicle renowned for its durability, off-road skills, and adaptability.
The Force Gurkha, in particular, has been engineered to flourish in the most demanding circumstances thanks to its unparalleled performance, greater ground clearance, the highest water-wading capacity in its class, and exceptional manoeuvrability.
“We are honored to continue our association with the Indian Defence Forces through this substantial order. Our vehicles are designed with a focus on quality, reliability, ruggedness, and performance, aligning perfectly with the operational needs of our defence personnel. This order is a testament to the trust and confidence Indian Defence Forces place in Force Motors,” said Prasan Firodia, managing director of Force Motors.
Shri N. K. Firodia established Force Motors Limited in 1958 with the intention of providing the general population with affordable, reliable, and efficient transportation. With an emphasis on the design, development, and manufacturing of cars, components, and parts, it is today a fully integrated automotive company.
At 1:39 pm, the shares of Force Motors were trading 2.78% higher at Rs 9,032 on NSE.
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