Ambani eyes defence sector, raises 11 companies

Anil Ambani is seeking to establish a firm grip on the defence sector by raising 11 new companies focused on defence. Targeting a potential market of around Rs 10,000 crore, the companies will aim at design, development and manufacturing of military equipment ranging from UAVs to submarine systems. The move came months after the acquisition of Pipavav Shipyard by Reliance.

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