Pipavav Defence is in the limelight today morning. There is news that Reliance Defence has purchased another 3.3% stake in the company. And this stake it has purchased from Saab, the global defence and security company.

Pipavav Defence is now part of Reliance Anil Dhirubhai Ambani Group. With a new strong owner in Pipavav, Saab said it is looking forward to developing the potential even further.

The company is scheduled to declare its Q3FY16 performance today.

The stock price is up over 3% currently at Rs.83.50 with an intra day high at Rs.86.40.