Reliance Infrastructure shares jumped 5% to hit the upper circuit at Rs 404.05 on Wednesday after its subsidiary, Reliance Defence, secured a major Rs 600-crore export order from German defence and ammunition manufacturer Rheinmetall Waffe Munition GmbH. This landmark deal follows a strategic partnership inked last month between Reliance Defence and Rheinmetall AG to supply ammunition, including artillery shells and explosives. The production will be based at a new manufacturing facility planned in Maharashtra, further boosting India’s private defence manufacturing capabilities.
Reliance Defence called this order one of the largest in the high-tech ammunition sector to date, reinforcing its ambition to become one of India’s top three defence exporters. Armin Papperger, CEO of Rheinmetall AG, said, “This partnership with Reliance Defence under Anil Ambani’s leadership highlights our commitment to collaborate with India under Prime Minister Narendra Modi’s vision.”Anil D Ambani, founder chairman of Reliance Group, described the partnership as a “defining milestone” that brings cutting-edge defence capabilities to India’s private sector.
The Defence Ammunition Development Centre (DADC), being developed in Ratnagiri, Maharashtra, is set to be the largest greenfield project in India’s private defence space, aimed at innovation, advanced production, and export growth. Additionally, Reliance Infrastructure recently cleared a Rs 273-crore loan taken by its subsidiary JR Toll Road from Yes Bank. The stock has rewarded investors with over 1,049% returns in the last five years and more than 93% in the past year alone. In 2025, the shares have gained 26.58%, and in the last month, surged nearly 38%.Shares hit a 52-week high of Rs 421 on June 11, 2025, against a low of Rs 169.75 on July 23, 2024, with the company’s market cap standing at Rs 16,005.68 crore as of June 25.