Reliance eyes defense.

MUMBAI: Pitching defence business as the main growth driver, industrialist Anil Ambani will brief the sectoral and market analysts here on Monday about future plans of his Reliance Group in this segment.

This is the first time ever that Ambani or his group firm Reliance infrastructure is hosting an analyst meet for defence business.

In a brief notification to the stock exchanges, Reliance Infra said the meet is being held to give an update on the group's defence business.

The group officials said Ambani, the group Chairman, will himself interact with the analysts on the defence business and brief them about its future plans and how the defence business is going to be the main growth driver for the group in the years to come.

Almost 100 analysts from Mumbai and Delhi are likely to attend this meet, they added.

While defence is the latest key business for Anil Ambani-led group, it is also present in financial services, telecom, power and other infrastructure sectors.

The Reliance Group's defence play started with the acquisition of Gujarat-based Pipavav Shipyard about two years ago. This remains the largest acquisition in the defence sector in India so far.

Pipavav Shipyard has now been renamed as Reliance Defence and Engineering Ltd (RDEL). It owns the largest dry dock in the country.

Recently, the Reliance Group also entered into a joint venture with Dassault Aviation of France to execute the largest offset obligation against the 36 Rafale fighter jets bought by India.

For this, the company is setting up manufacturing facilities in Mihan SEZ in Nagpur.


Trending News

Nusli skips Tata Steel EGM, result awaited

Ratan Tata saving British Steel at the cost of Tata Steel India: Nusli

Blackberry Partners with Optiemus

OPEC and non-OPEC producers achieve 86 per cent conformity to output cut

Reliance eyes defense.

RIL stock maximizes 5%, market valuation ranks top Rs 4 lakh crore

How Fintech and Payments Innovations Will Disrupt Global Ecommerce

The New Nokia 3310 Gets A Camera, Expandable Storage, And A Design Makeover

Everyone Can Adopt This Founder's One-Step Productivity Advice

Reliance Jio plans to overtake Airtel, hit 50% revenue market share in 4 years

Samsung unveils Nougat for S6, and S6 Edge

Sensex up 146 Points on exit polls forecast

What the CIA WikiLeaks dump tells us: Encryption works

Idea Cellular to offer free incoming calls on domestic roaming

BJP at Centre and in states will spur growth reforms: India Inc

Forex reserves up $1.218 billion to $364 billion

Following emergent win in UP, Centre May take may take tough reform decisions.

The Top Five Challenges Of Doing Business In Dubai

My 8 Favorite Tools for Driving Business Growth

Nike's hijab line for Muslim female athletes, and Sydney boys on the importance of feminism

Uber wins driver-status case in France on legal technicality

Adani Hopes to Start Australian Coal Mine Project in August

Tesla’s $1 Billion Cash Raise May Fall Short

Race to Build Offshore Wind Farms That Float on Sea Gathers Pace

7 Things Every Entrepreneur Should Do Before 7 a.m.

Can Main Street Businesses Thrive in the Trump Era?

Russia, Saudis Move at a Different Pace as Oil Cuts Scrutinized

China Southern Said in Talks to Sell Stake to American Air