Reliance Infra Shares Rise Over 4% on ₹3,000 Crore Defence Export Target in 2 Years

Reliance Infra Share Price: The Anil Ambani-led company's stock witnessed a sharp rise on the bourses. On Monday, Reliance Infra shares jumped over 4% after the company announced an ambitious target of ₹3,000 Crore in defence exports over the next 2 years.

As per sources cited in a report by PTI, Reliance Infrastructure Ltd. is targeting exports of 155 mm ammunition and aggregates, worth ₹3,000 crore, by the end of FY27. As for the current year, the Reliance group firm is estimated to export ₹1,500 crores of large calibre ammunition.

At 11:30 am, Reliance Infrastructure Ltd. shares were trading at ₹341.30 price level, up by 3.19% on the National Stock Exchange.

Reliance Infrastructure has already recorded exports worth around ₹100 crore in artillery ammunition and aggregates. The Anil Ambani-owned company is also aiming to rank among the top three defence equipment exporters in India, as per sources cited in the PTI report.

Reliance Infrastructure was recently allotted 1,000 acres of land in the Watad Industrial Area of Ratnagiri, Maharashtra, for the development of the Dhirubhai Ambani Defence City (DADC) in Ratnagiri. This will be the largest greenfield defence project undertaken by any private company in India. Meanwhile, as part of the project, the company is also establishing an integrated explosives and ammunition manufacturing plant in DADC.

Reliance Infra Share Price

So far this year, Reliance Infra shares have witnessed a single-digit surge of 7.22% on the National Stock Exchange. In the last 6 months, this rise has been even starker, as the company's shares surged over 24%. Currently, the shares are trading at ₹341 price level, down by just over 2.8% from the 52-week high of ₹351.

On an annual basis, the shares of the company have clocked near multibagger returns of over 96%. Additionally, other defence stocks, including Paras Defence, Mazagon Shipbuilders and Apollo Micro System, have also witnessed a strong rally since last month, owing to border tensions.