Anil Ambani hits JACKPOT as shares of this Reliance Group company hit 52-week high, the firm is...
Anil Ambani (File)
In another major win for Reliance Group boss Anil Ambani, the shares of Reliance Infrastructure Limited– one of the group's most-successful companies– hit their 52-week high on Thursday, surging to Rs 424, an increase of 4.93 percent. According to market data, Reliance Infra stock jumped 3.33 percent to settle at Rs 417.50 on the BSE, and climbed 3.29 per cent to Rs 418 at the NSE.
During the day, Reliance Infra shares surged 4.93 percent to hit the 52-week high of Rs 424, day after the stock climbed 4.98 per cent.
The boom in stock prices of Anil Ambani-led Reliance Infrastructure comes amid the company's announcement that its subsidiary, Reliance Defence Ltd, had secured a a Rs 600-crore export order from German defence and ammunition manufacturer Rheinmetall Waffe Munition GmbH. Reliance Defence inks Rs 600 crore deal with German arms maker
In May, Anil Ambani-led Reliance Defence signed a deal 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 Infra shares have jumped over 42 percent in the last one month.
'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,' according to a statement issued by the company on Wednesday.
Reliance Defence aims to be among the country's top three defence exporters, and the order represents a key milestone in its strategy to strengthen its position as a reliable partner in the global defence and ammunition supply chain, with a particular focus on Europe. Reliance Infra partners with Dassault Aviation
Meanwhile, Reliance Infrastructure has also partnered with French aerospace giant Dassault Aviation to manufacture the Falcon 2000 LXS Business Executive Jets in India for the global market.
In an official release, Dassault Aviation– primarily known for its Rafale fighter jets which are operated by the Indian Air Force (IAF)– termed the agreement with Reliance Aerostructure Limited (RAL), a subsidiary of Anil Ambani's Reliance Infrastructure Ltd, as an 'epic moment' for India, who now joins an elite club of countries manufacturing next-generation business jets after the United States, France, Canada and Brazil.
This will be the first instance when Dassault will build the Falcon 2000 jets outside France.
Commenting on the historic deal, Anil Ambani asserted that the collaboration reflects the Reliance Group's commitment 'to Prime Minister Shri Narendra Modi's vision of 'Atmanirbhar Bharat (Self Reliant India)' and 'Make in India for the World'.'
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