Announced Sun, 5 Jul · 19:11 IST
Adani Defence to invest Rs 2500 crore in missile facility in Madhya Pradesh
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ADANIENT · price
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AI summary
Adani Defence and Aerospace, the defence arm of Adani Enterprises, will invest Rs 2,500 crore to set up South Asia's largest private-sector missile ecosystem in Shivpuri, Madhya Pradesh. The facility will produce composite propellant and TNT and integrate missile systems at one location. It is expected to create 5,000 direct and indirect jobs and support missile programs including NGARM, RUDRAM-II, NASM-SR, LRGB Gaurav, and TARA. Construction has begun.
Likely market impact
Large capital outlay strengthens the defence vertical; long-term revenue potential but near-term capex burden on Adani Enterprises.