Reliance Infra Share Price Up Nearly 5% As Stock Extends Gains For Second Straight Day

Reliance Infrastructure Share Price: Reliance Infra share price (Reliance Infrastructure Ltd) increased for the second straight day on June 19 as the company’s stock surged nearly 5 per cent to trade at an early high of Rs 405 apiece on the NSE. Shares of the Anil Dhirubhai Ambani Group company extended gains after the company announced that its subsidiary has entered into a partnership with Dassault Aviation to manufacture Falcon 2000 planes.

On June 18, Reliance Infra said in a release that its subsidiary Reliance Aerostructure Ltd (RAL) has entered into a partnership with France’s Dassault Aviation. As a part of the partnership, the RAL will manufacture Falcon 2000 business executive jets in India. As per the release, this is the first time the business executive jet will be made outside France.

The company mentioned in the release that with the partnership, India has joined other nations which manufacture business executive jets. Notably at present only United States, France, Canada, and Brazil manufacture business executive jets. Business Executive jets or bizjets refer to aircraft which have a smaller carrying capacity and are used typically by business executives or high-ranking officials.

Reliance Infrastructure-Dassault Deal

The company mentioned in the release that the joint venture between the two companies, Dassault Reliance Aerospace Ltd (DRAL) will also become a Center of Excellence (CoE) for Falcon 6X and 8X series. Notably DRAL was established in 2017. The company manufactured its first Falcon 2000 front section in 2019 and has since assembled over 100 major sub-sections for the Falcon 2000.

The company added that the final assembly line for Falcon 2000 will be set up in Nagpur, Maharashtra. The company added that the French Aviation major transferred the assembly of the front section of Falcon 8X and Falcon 6X along with the wings and complete fuselage assembly of Falcon 2000 to the joint venture. Reliance Infrastructure mentioned in the release that the first Made in India Falcon 2000 will be manufactured by 2028 for corporate and military usage.

Reliance Infrastructure Share Price History

In a year shares of Reliance Infra share price has surged nearly 84 per cent on the NSE. In the last six months, the Reliance ADAG group stock has gained 32 per cent. On a year-to-date basis Reliance Infrastructure share price has gained nearly 28 per cent. In the past month, the stock has climbed over 38 per cent.

At the time of writing shares of Reliance Infrastructure shares traded around Rs 399 apiece up by 3.23 per cent on the NSE.