Reliance Industries inches up as its arm signs agreement to acquire 100% stake in Faradion
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Reliance Industries is currently trading at Rs. 2370.25, up by 13.80 points or 0.59% from its previous closing of Rs. 2356.45 on the BSE.
The scrip opened at Rs. 2370.00 and has touched a high and low of Rs. 2377.50 and Rs. 2368.00 respectively. So far 15624 shares were traded on the counter.
The BSE group 'A' stock of face value Rs. 10 has touched a 52 week high of Rs. 2750.00 on 19-Oct-2021 and a 52 week low of Rs. 1830.00 on 29-Jan-2021.
Last one week high and low of the scrip stood at Rs. 2418.40 and Rs. 2346.00 respectively. The current market cap of the company is Rs. 1594372.66 crore.
The promoters holding in the company stood at 50.61%, while Institutions and Non-Institutions held 38.79% and 10.60% respectively.
Reliance Industries’ wholly owned subsidiary -- Reliance New Energy Solar (RNESL) has signed definitive agreement to acquire 100% shareholding in Faradion for an enterprise value of GBP 100 million. In addition, RNESL will also invest GBP 25 million as growth capital to accelerate commercial roll out.
Reliance will use Faradion’s state-of-the-art technology at its proposed fully integrated energy storage giga-factory as part of the Dhirubhai Ambani Green Energy Giga Complex project at Jamnagar, India.
Reliance Industries is India’s largest private sector company. The company’s activities span hydrocarbon exploration and production, petroleum refining and marketing, petrochemicals, retail and 4G digital services.
