Reliance Current Affairs

Reliance Defence launches first two Navy ships Shachi and Shruti

Reliance Defence and Engineering Limited (RDEL) launched the first two Naval Offshore Patrol Vessels (NOPVs) — Shachi and Shruti at their shipyard in Pipavav, Gujarat.

These two NOPVs are the first warships to be launched by a private sector shipyard in India. These ships are part of a five-ships being constructed for the Indian Navy under the P-21 project.

About NOPVs

The NOPVs are primarily patrol ships to undertake surveillance of the country’s vast Exclusive Economic Zone (EEZ). They also undertake operational tasks such as anti-piracy patrols, maritime security of offshore assets, fleet support operations, coastal security operations, and protection of shipping lanes.

The five NOPVs constructed by RDEL are armed with a 76 mm Super Rapid Gun Mount (SRGM) system along with two 30 mm AK-630 guns, which provide medium range and short range offensive and defensive capabilities.

The armaments of these vessels are remotely controlled through an electronic fire control system. They are also fitted with 20,000 KW diesel engine-driven propulsion systems and can deliver speeds up to 25 knots.

Background

RDEL, subsidiary of Reliance Infrastructure is the first private shipyard in India to obtain defence production licence and sign a contract for defence ships in 2011. It is also engaged in construction of one training ship and 14 Fast Patrol Vessels (FPVs) for the Indian Coast Guard.

Previously, RDEL also had built ships for varied clients including offshore support vessels for ONGC, ice bulk carriers for a Norwegian company and offshore deck cargo barges for NPCC-UAE. It also has repaired and retrofitted commercial and defence ships as well as mobile oil drilling platforms for international clients.

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Reliance Industries market capitalisation hits Rs 5 lakh crore mark

Mukesh Ambani-led Reliance Industries Limited (RIL) for the first time in its trading history has crossed Rs 5 lakh crore in market capitalisation. The market cap of RIL stood at Rs 5,04,458.09 on BSE (Bombay Stock Exchange.

RIL is second firm to cross Rs 5 lakh crore in market capitalisation. It is also RIL’s highest market cap in its lifetime and also currently it is the most valued company on the bourses.

Tata Consultancy Service (TCS) was first company to hit Rs 5 lakh crore in market capitalisation milestone in July 2014. Later in November 2014, its market capitalisation had surged to 5.43 lakh crore. Now, it is the second most valuable company in terms of market-capitalisation.

About Reliance Industries Limited (RIL)

RIL is an Indian conglomerate engaged in energy, petrochemicals, textiles, natural resources, retail, and telecommunications. It is the third most profitable company in India. It is the second largest company in India in terms of revenue after the government-controlled Indian Oil Corporation (IOC). It was ranked 215th on the Fortune Global 500 list of the world’s biggest corporations as of 2016. It was also ranked 8th among the Top 250 Global Energy Companies by Platts as of 2016.

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