Morgan Stanley reiterated its positive stance on Reliance Industries after the company announced a rare foray into the defence sector with a partnership with British engine maker Rolls-Royce, with the international brokerage highlighting that the Mukesh Ambani-led conglomerate is re-imagining its strategic direction again.
Reliance Industries and Rolls-Royce on Friday announced their strategic intent to partner on the design, development, manufacturing and delivery of a sovereign indigenous combat engine for India’s Advanced Medium Combat Aircraft (AMCA) programme. The proposed partnership brings together Rolls-Royce’s expertise in advanced propulsion and Reliance Industries’ technology, manufacturing and execution capabilities.
