Ashok Leyland Defence Systems (ALDS), Hinduja Group company has signed a Memorandum of Understanding (MOU) on Cooperation with Russia’s Rosoboronexport (ROE) and ELCOM, on the sidelines of the International Military Technical Forum Army – 2017 held at Kubinka, near Moscow, on August 25, 2017.
Rosoboronexport is the only state organisation in Russia for export of the entire range of military products and technologies, the company said in a BSE filing.
ROE represents Russian companies who are manufacturers of Infantry Fighting Vehicles and Main Battle Tanks, currently working with the Indian Army.
ELCOM Group is emerging as a significant player in strategic electronics, avionics and tactical communication globally.
Meanwhile, shares of the company were trading at Rs 112.50 apiece, down 0.57 per cent from the previous close at 12:55 hours on BSE.