RELINFRA

The shares of Reliance Infrastructure jumped 5 percent to get locked in the upper circuit on June 25 after the company announced that its subsidiary Reliance Defence has secured a significant export order worth Rs 600 crore. In its exchange filing, Reliance Infra said that its arm has secured the export order from German defence and ammunitions-manufacturer Rheinmetall Waffe Munition GmbH. The company said that this is one of the largest order in the high-tech ammunition domain till date. "The order represents a key milestone in Reliance Defence's strategy to strengthen its position as a reliable partner in the global defence and munition supply chain, with a particular focus on Europe," it added. Reliance Defence aims to be among the top three defence exports in the country, the exchange filing read. The collaboration between the firm and the German company highlights the mutual commitment of both parties to long-term cooperation, and to advancing the 'Atmanirbhar Bharat' and 'Make in India' initiatives by strengthening indigenous defence manufacturing capabilities, it added.