At 2:51 pm, the stock was locked at ₹404.65 on the NSE, up ₹19.25 or 4.99% from the previous close. The surge followed news of what the company described as one of the largest high-tech ammunition contracts awarded to an Indian private firm.
Reliance Defence said the deal strengthens its strategic partnership with Rheinmetall Waffe Munition GmbH and marks a significant step in expanding its global footprint, particularly in Europe. The order also supports India’s ‘Atmanirbhar Bharat’ and ‘Make in India’ programmes aimed at boosting indigenous defence production.
The company plans to execute the order from its upcoming Dhirubhai Ambani Defence City (DADC) in Ratnagiri, Maharashtra. The DADC project is being positioned as India’s largest greenfield defence manufacturing complex by a private entity, with integrated facilities for ammunition, explosives, and small arms.
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Anil Ambani, Chairman of Reliance Group, said the deal brings cutting-edge capabilities to India and positions the company to become one of the country’s top three defence exporters. Rheinmetall CEO Armin Papperger also called the partnership a key step in their long-term collaboration with India.
Rheinmetall, with a market capitalisation of over €80 billion, is among the world’s largest defence firms and recorded revenues of €9.8 billion in 2024. Its collaboration with Reliance is seen as a vote of confidence in India’s private sector defence capabilities.
The stock movement reflects investor optimism around the group’s ability to scale up defence exports and leverage global partnerships for long-term growth.
