Anil Ambani’s company made a big announcement, will invest 10 thousand crores in Ratnagiri

New Delhi. Anil Ambani’s company Reliance Infrastructure has made a big announcement on Tuesday. The company announced to set up India’s largest project for the manufacture of explosives, ammunition and small arms in Ratnagiri, Maharashtra. The company will invest more than Rs 10,000 crore in the next 10 years. Reliance Infrastructure has been allotted 1000 acres of land in Watad Industrial Area of ​​Ratnagiri, Maharashtra to develop Dhirubhai Ambani Defense City (DADC).

What did Reliance say?
Reliance said in a statement, DADC will be the largest greenfield project in the defense sector in India by any private sector company. Reliance Infrastructure has exported defense equipment worth more than Rs 1,000 crore in a certain period through its subsidiaries. Reliance Infrastructure’s wholly-owned subsidiaries Jai Armaments Limited and Reliance Defence Limited already have a license from the Government of India to manufacture arms and ammunition.

Company shares
Reliance Infra’s stock saw a decline of 5% today on Tuesday. The company’s shares closed at Rs 254.55. The stock fell 12% in five days. The stock climbed up to 23% in a month. The stock has climbed up 30% in six months and 21% so far this year. The stock climbed up to 50% in a year. The stock climbed up to 800% in five years. The 52-week high price of the company’s shares is Rs 350.90 and the 52-week low price is Rs 143.70. The company’s market cap is Rs 10,071.64 crore.