Axiscades Technologies Ltd. on Monday, August 4, said its wholly-owned subsidiary has inked a ₹223.95 crore contract with the Indian Army.As per the contract, AXISCADES Aerospace & Technologies Private Limited, will supply 212 units of 50-tonne tank transporter trailers over two years.
The directorate general of capability development awarded the contract to the company.
In June, the company signed an MoU with Europe-based defence company Indra to boost the production of its cutting-edge systems in India.Indira will acquire defence-related products and services from Axiscades, which will be delivered through the company’s design, development, production and supply chain center.
The directorate general of capability development awarded the contract to the company.
In June, the company signed an MoU with Europe-based defence company Indra to boost the production of its cutting-edge systems in India.Indira will acquire defence-related products and services from Axiscades, which will be delivered through the company’s design, development, production and supply chain center.
The two companies are also exploring joint product development for Indian and global markets, either by adapting existing Indra products or by creating new ones to meet customer needs, Axiscades said.
Shares of Axiscades Tech were down 0.17% at ₹1,278.5 apiece around 12 pm on Monday. The stock has declined 10% in the past month but has gained 93.8% this year, so far.
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(Edited by : Shloka badkar)
