Latest news with #RelianceInfrastructure-promoted
Mint
23-05-2025
- Business
- Mint
Reliance Infrastructure to Reliance Power: Why Anil Ambani-owned Reliance ADAG stocks are skyrocketing? EXPLAINED
Reliance ADAG group stocks in focus: Anil Dhirubhai Ambani Group (ADAG) stocks, including Reliance Home Finance, Reliance Infrastructure, and Reliance Power, rallied sharply in Friday's trade (May 23). Reliance Home Finance shares surged 10% to ₹ 3.63 apiece, Reliance Power stock jumped 18.5% to a 6-month high of ₹ 52.82, while Reliance Infrastructure share price climbed 10% to ₹ 311 per share. The broad-based rally in ADAG stocks was driven by multiple positive developments that boosted investor sentiment and triggered a sharp spike in trading volumes on Dalal Street. Reliance Infrastructure-promoted Reliance Defence and Düsseldorfbased Rheinmetall AG on May 22 entered a strategic partnership in the field of ammunition. This marks the third major partnership for Reliance Defence, following its successful strategic alliances with Dassault Aviation and the Thales Group of France, the company said in a press release. 'In order to support this collaboration, Reliance Defence Ltd will set up a Greenfield manufacturing facility in the Watad Industrial Area, of Ratnagiri, Maharashtra. In India, the new state-of-the-art facility will make a significant contribution to supplying the country's armed forces. The defence manufacturing complex will contribute in supporting India's ambitious defence export target of ₹ 50,000 crore by 2029,' Reliance Infra added. Additionally, all eyes are on Reliance Infrastructure stock ahead of its Q4 results later in the day. On May 20, Anil Ambani-owned Reliance Power executed a preferential allotment of equity shares aggregating ₹ 43.89 crore to two entities—Reliance Infrastructure Limited and Basera Home Finance Private Limited. According to an exchange filing, the company allotted a total of 1.33 crore fully paid-up equity shares at ₹ 33 per share (inclusive of a ₹ 23 premium). The shares were issued under the SEBI (ICDR) Regulations, following the exercise of rights attached to previously issued warrants. In addition, Reliance Power recently announced a strategic international venture with Druk Holding and Investments Limited (DHI), the investment arm of the Royal Government of Bhutan. The two companies will jointly develop Bhutan's largest solar power project, with a planned installed capacity of 500 MW. In October 2024, Reliance Enterprises—jointly promoted by Reliance Power Limited and Reliance Infrastructure Limited—initiated a strategic partnership with DHI to develop solar and hydropower projects in Bhutan. The ₹ 2,000 crore project will be developed under a 50:50 joint venture on a Build-Own-Operate (BOO) basis. The company stated that the agreement—marked as the largest private sector FDI in Bhutan's solar energy sector to date—was formalized through a commercial term sheet with Green Digital Private Limited (GDL), a DHI-owned entity. Reliance Power said its total clean energy pipeline stands at 2.5 GWp of solar and over 2.5 GWh of BESS, making it India's largest player in the integrated solar + BESS segment. The turnaround in financial performance during the March quarter has also fueled renewed investor interest in the stock on Dalal Street. For the quarter ended March, the company posted a consolidated net profit of ₹ 126 crore, a significant recovery from a loss of ₹ 397.56 crore in the same quarter last year, driven by lower finance costs and reduced operating expenses. Total operating expenses fell from ₹ 3,575 crore in Q4FY24 to ₹ 2,108 crore in Q4FY25. However, revenue from operations declined to ₹ 2,066 crore from ₹ 2,193.85 crore year-on-year, primarily due to lower realizations. Disclaimer: The views and recommendations given in this article are those of individual analysts. These do not represent the views of Mint. We advise investors to check with certified experts before taking any investment decisions.
Mint
22-05-2025
- Business
- Mint
Anil Ambani's Reliance Defence in pact to supply artillery shells to German firm
New Delhi: Anil Ambani's Reliance Defence Ltd on Thursday announced a pact to supply explosives and artillery shells, among other ammunitions, to German arms manufacturer Rheinmetall AG. Reliance Defence will set up a greenfield plant in Maharashtra to manufacture and supply the ammunitions, it said in a statement. The partnership with Reliance Infrastructure-promoted Reliance Defence is expected to secure global supply chains and access to important raw materials for Rheinmetall, which manufactures artillery as well as armored vehicles and tanks, the statement 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 Modi," said Armin Papperger, CEO of Rheinmetall AG. The new manufacturing facility in the Watad Industrial Area of Ratnagiri will have an annual capacity to produce up to 200,000 artillery shells, 10,000 tonnes of explosives and 2,000 tonnes of propellants. It will also make a significant contribution to supplying the country's armed forces, the company said. "This strategic partnership brings cutting-edge capabilities to India, marking a transformational moment for the country's private defence manufacturing sector. Guided by the vision of 'Aatmanirbhar Bharat', as championed by Prime Minister Shri Narendra Modi, our objective is clear – to position Reliance Defence among the top 3 defence exporters, enabling India to not only meet its domestic defence needs, but also emerge as a key player in the global defence supply chain." Dusseldorf-based Rheinmetall AG is a key manufacturer of loitering munitions, large-caliber weapons and ammunition, as well as propulsions systems for artillery applications. After two successful joint ventures with global majors, Dassault Aviation and Thales Group of France, this is the third significant international partnership for Reliance Defence, the company said. This comes at a time when Indian defence stocks have skyrocketed amid rising geopolitical tensions between India and Pakistan. Mint reported on 20 May that Indian defence stocks such as Garden Reach Shipbuilders & Engineers Ltd (GRSE), Cochin Shipyard Ltd, Mishra Dhatu Nigam Ltd (MIDHANI), Paras Defence and Space Technologies Ltd, Data Patterns (India) Ltd, Bharat Dynamics Ltd (BDL), and Astra Microwave Products Ltd have seen sharp rallies, outperforming broader indices by a wide margin. In FY25, India's defence exports surged to a record high of ₹ 23,622 crore, marking a 12% increase over FY24, a defence ministry statement said on 1 April. the contribution of state-run defence firms to exports rose to ₹ 8,389 crore in FY25, up from ₹ 5,874 crore in the year prior.
