Business | Ronojoy Mazumdar and PR Sanjai,Ronojoy Mazumdar and PR Sanjai, Bloomberg | Tuesday November 26, 2019
The revival of the shipyard is crucial for Anil Ambani, who is betting on cash flows from government defense contracts as Prime Minister Narendra Modi plans to spend billions of dollars on national security. Brokers say the stock's parabolic advance is likely driven by speculators, rather than by a change in the company's fortunes.
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