Anil Ambani-owned Reliance Infrastructure share price dips 5% after THIS reply on 155mm artillery shells
Anil Ambani-owned Reliance Infrastructure's stock took a breather on Thursday after a sharp 11% gain in the last trading session, with the scrip declining 5% in intra-day deals today. Apart from profit taking following a sharp rally in recent months, Reliance Infra share price also came under pressure following its response to the exchange on the development of next-gen 155mm artillery shells by the company.
The stock exchange BSE had sought a clarification from Reliance Infrastructure on Wednesday about an article in Business Today, titled "Reliance Infra becomes first private Indian firm to develop next-gen 155mm artillery shells".
In its response, the Anil Ambani-owned group stock said that it has a number of defence SPVs that are engaged in various businesses, including one SPV which is in the process of developing ammunition with the DRDO project of the Government of India.
"The activities are routine in nature as per the objectives of the company. There were no negotiations as per our knowledge and information," the company said. Furthermore, it added that the development of ammunition by a subsidiary company is in the normal course of business and is not a disclosable event.
Reliance Infra also said that as on date, there was no order from the Indian Army for ammunition under development.
Meanwhile, in a major relief for Reliance Infra, National Company Law Appellate Tribunal (NCLAT) on Wednesday stayed insolvency proceedings against the company that were initiated by IDBI Trusteeship Services Ltd over an alleged default of ₹ 88 crore.
The ADAG stock Reliance Infrastructure declined as much as 4.8% in intra-day trade on Thursday. It hit the day's low of ₹ 362.
However, this fall is a small dent in the massive rally the Reliance Infrastructure share price has seen recently. The BSE Smallcap stock is up 17% in a week and 68% in three months. In 2025 so far, Reliance Infra share has added 15.60% while it has emerged as a multibagger stock over a year, rallying 146%.
As of 3.20 pm, Reliance Infrastructure share price was at ₹ 373.80, down 1.75%.
Disclaimer: This story is for educational purposes only. The views and recommendations made above are those of individual analysts or broking companies, and not of Mint. We advise investors to check with certified experts before making any investment decisions.
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