Stock Market Today: Anil Ambani group stock Reliance Infrastructure share price rebounded during the intraday trades on Monday on THIS update by the defence arm. Check more Details here

Anil Ambani group stock Reliance Infrastructure share price rebounded during intraday trades, despite sell-offs in the Indian stock markets. The company announced on the exchanges that the Reliance Infrastructure-promoted Reliance Defence has formed a strategic partnership with Coastal Mechanics, USA. The partnership between Reliance Defence and Coastal Mechanics, USA, is to address the RS 20,000 crore Defence MRO and Upgrade opportunity.

Reliance Infrastructure—Defence Arm partnership details

Reliance Infrastructure announced that as per the Reliance Defence strategic agreement with Coastal Mechanics Inc. (CMI), a leading U.S. Department of Defence-authorized contractor, the two companies will jointly address India’s ₹20,000 crore defence maintenance, repair, overhaul (MRO), and upgrade market opportunity.

As per the agreement, Reliance Defence and Coastal Mechanics will focus on providing end-to-end Maintenance, Repair, Overhaul (MRO), upgrade, and lifecycle support solutions for the Indian Armed Forces, targeting a wide range of critical platforms such as 100+ Jaguar fighter aircrafts, 100+ MiG-29 fighter aircraft, and the fleet of Apache attack helicopters, L-70 air defence guns, and other legacy systems that require long-term sustainment and modernisation

Helped by the Indian military’s strategic shift from asset replacement to lifecycle extension and performance-based logistics, the segment represents a high-value, long-duration opportunity.

Coastal Mechanics supplies critical components to the U.S. Air Force and U.S. Army.

Reliance Infrastructure share price, after opening at ₹411.20 on the BSE on Monday, slightly lower than the previous day’s closing price of ₹413.40, also dipped to intraday lows of ₹399 amidst weakness in the Indian stock market. However, the Reliance Infrastructure share price jumped to the intraday high of ₹423.50 post the announcement of strategic partnership

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