Page 2 - Reliance Naval

Reliance Naval and Engineering widens Q1 loss to Rs 371 cr from Rs 361 cr

Consolidated income declined to Rs 26.85 crore in the quarter under review, from Rs 37.31 crore in the year-ago period

Reliance Naval Q3 net loss widens to Rs 371.57 cr; total income Rs 52.72 cr

Its total expenses rose to Rs 54.97 crore, against Rs 43.95 crore a year ago

Navy encashes bank guarantees as Reliance Naval fails to deliver vessels

Lanba confirmed that IDBI Bank has taken RNaval to the NCLT, seeking debt resolution

IDBI Bank moves NCLT against Reliance Naval and Engineering to recover loan

IDBI Bank has moved NCLT against Reliance Naval and Engineering Ltd to recover its dues from the company. The company has been informed that IDBI Bank Ltd, a lender of the company, has filed an application before the National Company Law Tribunal (NCLT), Ahmedabad, seeking debt resolution under the Insolvency and Bankruptcy Code (IBC), Reliance Naval and Engineering said in a regulatory filing Thursday. Besides, long-term infrastructure lender IFCI had also filed a similar application in November 2017, which is pending since last 10 months for admission, it said. The Anil Ambani promoted Reliance Naval and Engineering Ltd (RNAVAL) is the first private sector company in India to obtain the licence and contract to build warships. The company had said its net loss widened to Rs 347.21 crore in the quarter ended June 30, from Rs 230.42 crore in the year-ago period. The company, which was earlier known as Pipavav Defence & Offshore Engineering, was bought over by Anil Ambani group in .

Reliance Naval urges govt to fast-track maritime security contract awards

The Anil Ambani-led group company said there are 13 programmes worth Rs 500 billion from the Indian Navy and Indian Coast Guard that have remained at the Request for Information stage for a long

Reliance Naval to increase shareholding of Reliance Infra via rights issue

Reliance Infrastructure defence arm Reliance Naval and Engineering will be announcing a rights issue to increase the shareholding of the parent, Anil Ambani, chairman told shareholders at the Annual General Meet held here today. "With regard to Reliance Naval, the mandatory requirement for change of ownership is what we have achieved with our 31 per cent shareholding. We have the ability to increase our share-holding to 36 per cent and we will be shortly announcing a rights issue which will help us increase our shareholding," Ambani explained. Alongside, Reliance Naval (erstwhile Reliance Defence and Engineering) will bid for making six submarines worth Rs 50,000 crore as it remains focused on defence and engineering, procurement and construction business."Our focus is on defence. Yes, there is competition in defence sector. Yes, government is the customer. But we are completely committed to succeed in the defence sector," Ambani said. Currently, 90 percent of the country's defence ...