βοΈ Morgan Stanley backs Reliance after Rolls-Royce defence tie-up
Morgan Stanley has reiterated a positive view on Reliance Industries following its partnership with Rolls-Royce. This strategic move involves the two companies working on an indigenous combat engine for India's AMCA programme. The announcement was made on Friday, detailing the collaboration's scope. This partnership aims to build a complete Indian aero-engine ecosystem and a dedicated Gas Turbine Complex. Consequently, Reliance shares closed about 0.5% higher at Rs 1,316 on Monday. π