Reliance Defence enters into an alliance with LIG Nex1; stock soars 2 per cent
DSIJ Intelligence / 17 Apr 2017
Reliance Defence has tied up with the defence major LIG Nex1 of South Korea. Under this strategic alliance, the two companies will exploit potentials in the range of defence products identified as necessary for the Indian Armed Forces.
Reliance Defence has tied up with the defence major LIG Nex1 of South Korea.
Under this strategic alliance, the two companies will exploit potentials in the range of defence products identified as necessary for the Indian Armed Forces.
LIG Nex1 is an emerging front runner dealing in smart heavy weapons, in the category of Anti-Tank Guided Missiles (ATGM), Anti-ship Missiles and Guided Rockets.
There are multiple programmes for the Indian Armed Forces that the two entities will be addressing in association. It will include substantial enhancements to the existing weapon systems, which are an integral part of LIG Nex1's portfolio, designed for meeting the specific needs of the Indian Armed Forces. The value of the programmes being targeted will cumulatively exceed multi billions.
Stock of Reliance Defence was trading at Rs 65.50, up by Rs 1.10 or 1.71 per cent on the BSE, on Monday at 12.40 pm.
If you want to stay updated with the share market news today, keep a close watch on the indian stock market today with real time movements like sensex today live and overall stock market today trends. Investors tracking ipo allotment status, ipo news today, or the latest ipo india can also follow daily updates along with bse share price live data. Whether you are learning how to invest in stock market in india, preparing for a market crash today, or searching for the best stocks to buy in india, insights on top gainers today india, top losers today india, trending stocks india and long term stocks india help in making informed investment decisions.