IFCI, Reliance Infrastructure soar up to 13% on heavy volumes
Shares of Reliance Infrastructure rallied 10% to ₹ 313 on media reports of Reliance Defence ties up with Rheinmetall to supply ammunition, explosives
 "IFCI, Reliance Infrastructure soar up to 13% on heavy volumes")
Shares of IFCI and Reliance Infrastructure have soared by up to 13 per cent on the BSE in Friday’s intra-day trade amid heavy volumes. In the past two weeks, the stock price of these companies has zoomed 48 per cent and 39 per cent, respectively.
Among the individual stocks, the market price of state-owned financial institutions rallied 13 per cent to ₹ 56.25, on the back of over six-fold jump in average trading volumes. At 01:53 PM, the IFCI stock was quoting 11 per cent higher at ₹ 55.40, as compared to a 1 per cent rise in the BSE Sensex. As many as a combined 83.43 million equity shares representing 3 per cent of the total equity of IFCI have changed hands on the NSE and BSE. Follow Latest Stock Market Updates Today LIVE
The movement in volume in securities of the company is completely market-driven, and the company is in no way connected with the same, IFCI said on May 19, 2025, in clarification on the increase in volume.
On May 15, 2025, the Board had approved the audited financial statements of the Company as on March 31, 2025, and the same were submitted to the stock exchange(s). Further, there is no event, information or announcement, which, in our opinion, has a bearing on the price/volume behaviour of the company's securities and is not disclosed to the exchanges, IFCI said.
Shares of Reliance Infrastructure rallied 10 per cent to ₹ 313 on media reports of Reliance Defence tying up with Rheinmetall to supply ammunition, explosives. The average trading volumes on the counter more than doubled, with a combined 19.57 million equity shares changing hands on the NSE and BSE.
The BSE said the Exchange has sought clarification from Reliance Infrastructure on May 23, 2025, with reference to news that appeared in https://www.business-standard.com.
According to a report, Reliance Defence, promoted by Anil Ambani’s Reliance Infrastructure, has partnered with German arms manufacturer Rheinmetall AG to produce ammunition in Maharashtra’s Ratanagiri. As part of the agreement, Reliance Defence will supply the explosives and propellants for medium and large calibre ammunition to Rheinmetall.
This is the third such partnership for Reliance Defence, following its deals with France’s Dassault Aviation and Thales Group. CLICK HERE FOR FULL REPORT