Ways2Capital : Reliance Infra promotes JV Of Reliance Aerostructure With DRAL

Reliance Infrastructure Limited (RInfra) promoted, Reliance Aerostructure Limited’s Joint Venture (JV) with Dassault Aviation, named DASSAULT RELIANCE AEROSPACE LIMITED (DRAL) has been incorporated. DRAL's chairman will be Eric Trappier; and co-chairman will be Anil Ambani.

Reliance Aerostructure Limited (RAL) will have 51% shareholding in the JV, while Dassault Aviation (DA) will hold 49%.It is the largest FDI in the Indian Defence sector. DRAL has finalised the infrastructure requirements at Dhirubhai Aerospace Park, located at Mihan, Nagpur and the construction work for the greenfield facility will start in May 2017 and production by end of 2017.

DRAL will execute the programmes in phases, with Phase I resulting in the generation of more than 700 highly-skilled direct jobs and 2,800 indirect jobs.

Reliance Infrastructure Ltd is currently trading at Rs 545.2, up by Rs 3.65 or 0.67% from its previous closing of Rs 541.55 on the BSE. The scrip opened at Rs 541.8 and has touched a high and low of Rs 553 and Rs 540 respectively. So far 1162470(NSE+BSE) shares were traded on the counter. The current market cap of the company is Rs 14242.22 crore.

The BSE group 'A' stock of face value Rs 10 has touched a 52 week high of Rs 635.35 on 09-Sep-2016 and a 52 week low of Rs 394.25 on 17-Feb-2016. Last one week high and low of the scrip stood at Rs 566.9 and Rs 523.8 respectively. The promoters holding in the company stood at 48.36 % while Institutions and Non-Institutions held 36.58 % and 12.29 % respectively.The stock is currently trading above its 200 DMA.

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