Reliance Infrastructure stock in focus today, here's why

Shares of Reliance Infrastructure are in news today after chairman of Reliance Group Anil Ambani and Diehl Defence CEO Helmut Rauch discussed details of the strategic partnership on Guided Munition / Terminally Guided Munition (TGM) that is in place, based on a Cooperation Agreement, which was signed in 2019.

The main purpose of the current Strategic Cooperation Agreement is to focus on the urgent supply of the “System Vulcano 155mm Precision Guided Munition” for the Indian Armed Forces.

In parallel, the initiative “System Vulcano 155mm under Make in India-II” is in progress with Reliance Defence
as prime contractor for the Indian customer and Diehl Defence as strategic partner. The overall indigenous
content under “Make in India” will be more than 50 per cent. 

Anil D. Ambani, Founder Chairman of Reliance Group, said, “We are honoured to partner with Diehl Defence,a globally recognized leader in guided munition technology. This   strategic alliance not only accelerates the advancement of India’s defence manufacturing capabilities, but also positions Reliance Defence as a pivotal player in the global defence supply chain." 

Diehl Defence is a German system house for air defence systems. In addition to systems for ground-based air defence,  the product portfolio of the company headquartered in Überlingen (Germany) includes guided missiles for all branches of the armed forces, ammunition for army, air force and navy as well as protection systems.