Anil Ambani hits mega JACKPOT, set to earn Rs 11690000000 due to..., shares of Reliance Infra zoom to...
Anil Ambani (File)
In a major milestone and good news for Anil Ambani, Mumbai Metro One Private Limited, a subsidiary of Anil Ambani's company Reliance Infrastructure has received a massive sum of Rs 1,169 crore, thanks to the Bombay High Court Order. On the other hand, the Chairman of Reliance Industries has alos hit a jackpot in a dispute between Anil Ambani's company and Mumbai Municipal Corporation over Mumbai Metro Line 1 (Versova-Andheri-Ghatkopar). Here are all the details you need to know.
In the recent development, the Bombay High Court instructed Mumbai Metropolitan Region Development Authority (MMRDA) to pay a whopping amount of Rs 1,169 crore as an arbitration award to Mumbai Metro One Pvt Ltd (MMOPL). Notably, MMOPL is a debt-ridden subsidiary of Reliance Infrastructure and has been operating Mumbai's first metro line between the Versova-Andheri-Ghatkopar Corridor.
Responding to the big updatw, Reliance Power and Reliance Infrastructure shares continued to rise, trading at ₹71.67 and ₹405 respectively despite market weakness.
, Reliance Infrastructure Limited promoted Reliance Defence Limited (Reliance Defence) has announced a landmark deal for India's defence infrastructure development. In the recent development, the Anil Ambani led company signed a deal with Germany's, Diehl Defence for the production of next-generation Terminally Guided Munitions (TGM).
Reliance group founder Anil D Ambani and German arms manufacturer Diehl Defence CEO Helmut Rauch discussed strengthening strategic partnership on guided munition/terminally guided munition that they had entered into in 2019, the two firms said in a statement on Tuesday.
'For Diehl Defence, the collaboration with Reliance Defence is part of the company's commitment to the Indian market and to the 'Make in India' initiative of the Indian government,' the statement said.
The main purpose of the current strategic cooperation agreement between the two groups is to focus on the urgent supply of the 'System Vulcano 155mm Precision Guided Munition' for the Indian armed forces.
(With inputs from agencies)
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