Another good news for Anil Ambani, this company's shares hit 52-week high, jumps over…
Anil Ambani
Shares of Reliance Infrastructure remained in focus on Thursday, rising over 3% after its subsidiary, Reliance Defence Ltd, announced securing a Rs 600-crore export order from German defense and ammunition manufacturer Rheinmetall Waffe Munition GmbH.
The stock jumped 3.33 per cent to settle at Rs 417.50 on the BSE. During the day, it surged 4.93 per cent to hit the 52-week high of Rs 424. At the NSE, it climbed 3.29 per cent to Rs 418. In the previous trade, the stock had jumped 4.98 per cent. Reliance Infra Shares
In the past one month, shares of the firm have zoomed over 42 per cent.Last month, Anil Ambani's Reliance Defence signed an agreement with German arms manufacturer Rheinmetall AG to supply ammunition like artillery shells and explosives from a new facility to be set up in Maharashtra.
'Reliance Defence's export order is one of the largest in the high-tech ammunition domain to date. This underscores the strength of its recently announced strategic partnership with Rheinmetall,' the firm said in a statement on Wednesday.
The order represents a key milestone in Reliance Defence's strategy to strengthen its position as a reliable partner in the global defence and ammunition supply chain, with a particular focus on Europe. Reliance Defence Rs 600 cr Export Order
Reliance Infrastructure Limited promoted Reliance Defence Ltd on Wednesday announced securing a Rs 600 crore export order from German defence and ammunition manufacturer Rheinmetall Waffe Munition GmbH.
Last month, Anil Ambani's Reliance Defence signed an agreement with German arms manufacturer Rheinmetall AG to supply ammunition like artillery shells and explosives from a new facility to be set up in Maharashtra.
'Reliance Defence's export order is one of the largest in the high-tech ammunition domain to date. This underscores the strength of its recently announced strategic partnership with Rheinmetall,' the firm said in a statement.
The order represents a key milestone in Reliance Defence's strategy to strengthen its position as a reliable partner in the global defence and munition supply chain, with a particular focus on Europe. Reliance Defence aims to be among the top three defence exporters in the country.
Armin Papperger, CEO of Rheinmetall AG, while announcing the strategic partnership, said, 'This strategic partnership of Rheinmetall with Reliance Defence led by Anil Ambani's Reliance Group illustrates our strong commitment to partner with India under the strong leadership of Prime Minister Narendra Modi'.
Anil D Ambani, founder chairman of Reliance Group, said, 'The strategic partnership with Rheinmetall brings cutting-edge capabilities to India and represents a defining milestone for the country's private defence manufacturing sector'.
Reliance Defence will establish an integrated facility for the manufacturing of explosives, ammunition, and small arms under the ambitious Dhirubhai Ambani Defence City (DADC) initiative.
The DADC is being developed in the Watad industrial area of Ratnagiri, Maharashtra, and is set to become the largest greenfield project in the defence sector ever undertaken by any private company in India. The DADC will serve as a cornerstone for future innovation, advanced production, and export-oriented growth in the defence sector.
(With Inputs From PTI)
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