Defence Deals! Reliance Defence ties up with AlmazAntey

Anil Ambani stated that the partnership with AlmazAntey will be an important strategic relationship.

Reliance Defence has reportedly tied up with Russian Defence Co AlmazAntey. The Almaz-Antey group produces air defense systems, firearms for aircraft and armored vehicles, artillery shells and surface-to-surface missiles, airspace surveillance and coordination & artillery radars.  

Anil Ambani stated that the partnership with AlmazAntey will be an important strategic relationship, as the company & AlmazAntey is planning to manufacture missiles & radars.

Reliance Infrastructure Ltd is currently trading at Rs. 481.8, up by Rs. 23.95 or 5.23% from its previous closing of Rs. 457.85 on the BSE.

The scrip opened at Rs. 462.8 and has touched a high and low of Rs. 482.2 and Rs. 462.4 respectively. So far 2877502(NSE+BSE) shares were traded on the counter. The current market cap of the company is Rs. 12041 crore.

The BSE group 'A' stock of face value Rs. 10 has touched a 52 week high of Rs. 525.35 on 02-Jan-2015 and a 52 week low of Rs. 282.2 on 25-Aug-2015. Last one week high and low of the scrip stood at Rs. 462.85 and Rs. 432.8 respectively.

The promoters holding in the company stood at 48.53 % while Institutions and Non-Institutions held 35.6 % and 13.09 % respectively.

The stock is currently trading below its 50 DMA.