Adani Group-backed aerospace & defence company signs landmark cooperation agreement with EDGE Group

The stock is up over 50 per cent from its 52-week low of Rs 2,142.30 per share and a whopping 2,000 per cent in 5 years.

A major step forward in India-UAE defence collaboration has been signed between Adani Defence & Aerospace, a leading Indian defence and aerospace company, and EDGE Group, a top United Arab Emirates advanced technology and defence group. This landmark cooperation agreement aims to create a powerful global platform for defence and aerospace solutions by strategically combining the strengths of both companies.

The agreement goes beyond a simple partnership. It envisions a comprehensive framework for joint development and production across a wide range of critical defence technologies. This includes missiles and weapons for air, land, and infantry use, ammunition, air defence systems, advanced platforms like unmanned aerial systems (drones), loitering munitions, counter-drone systems, and unmanned ground vehicles. Additionally, the collaboration extends to electronic warfare and cyber technologies, crucial for modern warfare. The agreement even paves the way for establishing joint research and development facilities in both India and the UAE, with the potential to expand to other strategic locations. This focus on collaborative R&D signifies a commitment to ongoing technological advancement in the defence sector. Ultimately, this India-UAE alliance aims to not only address the domestic needs of both countries but also cater to the requirements of customers across Southeast Asia and the broader global market.

The agreement with Adani Defence & Aerospace reinforces EDGE's commitment to India’s defence industry, a market of strategic importance for the group.

About Adani Defence & Aerospace: Adani Defence & Aerospace, a leading arm of the Adani Group, spearheads the design, development, and manufacturing of cutting-edge defence products, fostering India's self-reliance through the ‘Aatmanirbhar Bharat’ initiative. They cultivate a dynamic network of startups and MSMEs, prioritizing export potential, industry-leading processes, and top-tier quality control. Their unwavering commitment to excellence empowers their clients to stay ahead of the curve and be fully prepared for any unforeseen threats.

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About Adani Enterprises Ltd

Adani Enterprises Ltd, the flagship company of the Adani Group, is a diversified conglomerate with interests in mining, resource management, infrastructure development and more. Founded in 1993, it acts as an incubator for new ventures within the Adani Group, with several successful companies like Adani Power and Adani Ports starting under its wing. AEL itself is a major player in India's Integrated Resources Management (IRM) business, importing and selling coal, while also operating its mining projects in India, Indonesia and Australia. Beyond mining, Adani Enterprises is involved in solar power generation through its subsidiary Adani Solar, the largest integrated solar manufacturer in India. They are also developing data centres and working on road infrastructure projects. Notably, the Adani Group recently entered the airport sector by winning the rights to operate and modernize six airports across India.

Earlier, as per the BSE Exchange filing, the Promoter Group - Emerging Market Investment DMCC bought 7,20,000 shares (Rs 3,140 per share) worth Rs 226,07,00,606 via market purchase.

Today, shares of Adani Enterprises Ltd gained 0.11 per cent to Rs 3,221.95 per share with an intraday high of Rs 3,264.70 and an intraday low of Rs 3,197.60. The stock’s 52-week high is Rs 3,743 and its 52-week low is Rs 2,142.30

A strong performer with a market cap of Rs 3.67 lakh crore, the company has consistently delivered impressive profit growth of 44.3 per cent CAGR over the last 5 years. According to the Quarterly Results (Q4FY24) and annual results (FY24), the company posted amazing numbers. The stock is up over 50 per cent from its 52-week low of Rs 2,142.30 per share and a whopping 2,000 per cent in 5 years. Investors should keep an eye on this Large-Cap stock.

Disclaimer: The article is for informational purposes only and not investment advice.