The Exchange has sought clarification from Reliance Infrastructure Limited with respect to recent news item captioned Reliance Defence ties up with Rheinmetall to supply ammunition, explosives. The response from the Company is attached.
RELINFRA · price
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The stock exchange sought clarification from Reliance Infrastructure regarding a media report about its group company Reliance Defence partnering with Rheinmetall (a major German defence firm) for the supply of ammunition and explosives. The company has submitted its response to the exchange. Reliance Defence is part of the Reliance Anil Dhirubhai Ambani Group's defence business, which operates under Reliance Infrastructure. The exact terms of the partnership, deal value, and timeline have not been disclosed in the available information.
If confirmed, this tie-up with a globally reputed defence manufacturer could open a significant new revenue stream for the group's defence vertical and positively impact investor sentiment, though the stock may remain volatile until further details emerge.