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Adani Enterprises' defence arm inks pact with EDGE group; stock rises
Adani Defence & Aerospace and EDGE group will explore setting up R&D facilities in India, the UAE, and other global markets.
Adani Defence & Aerospace and EDGE group will explore setting up R&D facilities in India, the UAE, and other global markets.
Extending rally for the sixth straight session, BEL shares rose as much as 9.2% to touch a new all-time high of ₹282.80 on the BSE.
The new centre will spearhead focused research in identified verticals, including Desert Warfare Technologies and Futuristic Omni Mobility Systems among others.
Last week, the Cabinet Committee on Security approved a proposal for 34 new advanced light helicopter (ALH) Dhruv Helicopters which will be manufactured by HAL.
The Adani group plans to invest over ₹3,000 crore in the facilities, which are expected to create around 4,000 jobs, Adani Defence says in a release.
50.7% of the total orders, amounting to ₹60,593 crore, have been awarded to micro and small enterprises by MoD buyers
The corpus will provide long-term financing or refinancing with long tenors and low or nil interest rates.
The ₹740 crore IPO of Azad Engineering was subscribed 83.04 times; retail portion was booked 24.51 times, QIB 179.64 times, and NII 90.24 times.
S.N. Subrahmanyan is increasing the share of services — financial & IT — in order to increase the margins of the conglomerate.
According to the company, the partnership has already resulted in the development and production of large volumes of locally-made KM4 armoured vehicles for the Indian army