ZEE Business
ZEE BUSINESS
हिंदी में पढ़ें  हिंदी में पढ़ें
Live TV
Live TV
  • Home
  • Budget 2023
  • Adani Saga
  • Markets
    • Stocks
    • Global Markets
    • IPO
    • Companies
    • Currency
    • Commodities
  • My Money
  • Calculators
    • Income Tax Calculator
    • Home Loan/EMI Calculator
    • Mutual Fund Returns Calculator
    • Personal Loan Calculator
    • Car Loan Calculator
    • SIP calculator
    • Lumpsum Calculator
    • SWP Calculator
  • Videos
    • M Se Market
    • Jeb Zindagi Zaroorat
    • Light Camera Stocks
    • Tech Takes
    • Big Bulls Ka Nishana
    • Paisa Wasool
    • Commodity Ke MrityunjayMantra
    • The Right Property Show
  • Economy & Infra
    • Policy & Initiatives
    • Agriculture
    • Telecom
    • Aviation
    • Railways
    • Retail
    • Roadways
    • World Economy
  • Exclusive
    • Wealth Guide
    • Interviews
  • Auto
    • Cars
    • Bikes
    • Electric Vehicle
    • Commercial Vehicles
  • Tech
    • Mobiles
    • Gadgets
    • Reviews
    • Tips and Tricks
    • Apps
  • Real Estate
    • Home Buyers
    • Builders
  • Axis MF
  • Trending
    • Entertainment
    • Politics
    • Lifestyle
    • Travel
    • Sports
    • Viral
    • Education
    • Jobs
Read in App
Business News » Companies News

Dassault Reliance Aerospace JV makes RelInfra shares jump over 5%

  • Twitter
  • Facebook
  • Linkedin
  • whatapp
  • View in App
Dassault Reliance Aerospace JV makes RelInfra shares jump over 5%
Shares of Reliance Infrastructure jumped 5.24% to Rs 580.80 per share on BSE Sensex after this announcement. Anil Ambani in front of An-70 aircraft. Image Source: Reuters

French aircraft manufacturer, Dassault aviation and Reliance Infrastructure (RelInfra) joined hands on Monday to create a joint venture in the aerospace sector called Dassault Reliance Aerospace.

Shares of Reliance Infrastructure jumped 5.24% to Rs 580.80 per share on BSE Sensex after this announcement.

“This new joint venture called ‘Dassault Reliance Aerospace’ will support Prime Minister Modi’s “Make in India” and “Skill India” policies and develop major Indian programs with high levels of technology transfer to benefit the entire aerospace sector,” RelInfra said in a statement.

The agreement with Dassault is a bet that Reliance can build manufacturing facilities at a site in Nagpur to feed into Dassault`s supply chain, or for future Indian government orders of the Rafale jet, a report by Reuters stated.

Dassult Reliance Aerospace will promote research and development projects under the the IDDM program (Indigenously Designed, Developed and Manufactured) programme.

The company stated that the JV will be key to executions of offset obligations as a part of the 36 Rafale fighter Jets purchase agreement at a value of €7.87 billion, or approximately Rs.59,000 crore (Rs 300 billion) signed between France and India on September 23, 2016.

Reuters quoted sources that said part of the 300 billion rupees in offsets would be spent directly on Reliance manufactured products, and part would be spent through other Indian manufacturers, depending on which company could best carry out the work. 

The company stated that the agreement includes an offset obligation of 50%.

Get Latest Business News, Stock Market Updates and Videos; Check your tax outgo through Income Tax Calculator and save money through our Personal Finance coverage. Check Business Breaking News Live on Zee Business Twitter and Facebook. Subscribe on YouTube.

TAGS:
Reliance InfrastructureReliance IndustriesDassault Aviation36 Rafale fighter jetsRelInfra share priceAviationDassault Reliance Aerospace
Written By: ZeeBiz WebTeam
Updated: Mon, Oct 03, 2016
03:02 pm
Mumbai, ZeeBiz WebDesk
RELATED NEWS
Reliance Infra Q1 Results: Net loss narrows in June quarter, consolidated income jumps | Highlights   Reliance Infra Q1 Results: Net loss narrows in June quarter, consolidated income jumps | Highlights
Delhi Airport Metro Express requests court to direct DMRC to deposit Rs 6,208 cr into escrow account without any delay Delhi Airport Metro Express requests court to direct DMRC to deposit Rs 6,208 cr into escrow account without any delay
Big Supreme Court BREATHER for Reliance Infra! Apex court upholds 2017 arbitration award – company to get Rs 5000 cr from DMRC Big Supreme Court BREATHER for Reliance Infra! Apex court upholds 2017 arbitration award – company to get Rs 5000 cr from DMRC
Regulator CERC allows Reliance Infrastructure firms BSES discoms to exit PPAs with NTPC Dadri-I power plant Regulator CERC allows Reliance Infrastructure firms BSES discoms to exit PPAs with NTPC Dadri-I power plant
Reliance Infrastructure Ltd (RInfra) in talks with Singapore's Cube Highways for sale of four road assets - ALL DETAILS HERE Reliance Infrastructure Ltd (RInfra) in talks with Singapore's Cube Highways for sale of four road assets - ALL DETAILS HERE

LATEST NEWS

Should you buy, hold or sell ITC, Britannia, HDFC Life, SBI Life, Titan, Zomato shares now?

Pathaan Box Office Collection Day 8: Shah Rukh Khan-starrer collects over Rs 660 crore worldwide | Check OTT release date here

Mahila Samman Saving Certificate: New small savings scheme for women announced in Budget 2023 | Check Where and How to Open Account, eligibility, interest rate, maturity, Tax benefits - All you need to know

Samsung Galaxy S23 Ultra Vs Galaxy S23 plus Vs Galaxy S23: Specification, Price comparison and other details

UGC extends deadline for feedback on regulations for foreign university campuses in India: Check last date, guidelines

WhatsApp bans over 36 lakh malicious accounts in India in Dec

iQOO 11 5G Review: Swashbuckling flagship phone with plenty of hits, and few near-misses

World Wetlands Day 2023: Theme, history, quotes, significance, how to celebrate

Stock Market on Friday: Watch out for these 10 triggers that could impact movement in Sensex, Nifty

Delhi temperature, weather forecast today: Met predicts clear sky in national capital, cold wave in Rajasthan; Himachal to receive rainfall

  • India News
  • World News
  • Companies News
  • Market News
  • Personal Finance News
  • Technology News
  • Automobile News
  • Small Business News
  • Income Tax Calculator
  • Live TV
  • Videos
  • Photos
  • Author
  • Rss Feed
  • Advertise with us
  • Privacy Policy
  • Legal Disclaimer

Latest Trending Updates

  • EPFO
  • Budget 2020
  • Income Tax Return
  • Auto Expo 2020
  • Home Loan
  • Business News

Trending Topics

  • Income Tax
  • income Tax Calculator
  • 7th Pay Commission
  • Reserve Bank of India
  • GST
  • Latest Business News

Follow us on

zeebiz
zeebiz

Partner Sites

  • Zee News
  • Hindi News
  • Marathi News
  • Bengali News
  • Tamil News
  • Malayalam News
  • Gujarati News
  • Telugu News
  • Kannada News
  • DNA
  • WION
© 2023. India Dot Com Private Limited. All Rights Reserved.
LIVE TV