Reliance Industries edges higher on planning to commission first solar giga-factory in FY25
Reliance Industries is currently trading at Rs. 2929.10, up by 7.60 points or 0.26% from its previous closing of Rs. 2921.50 on the BSE.
The scrip opened at Rs. 2925.00 and has touched a high and low of Rs. 2939.90 and Rs. 2915.60 respectively. So far 1472110 shares were traded on the counter.
The BSE group 'A' stock of face value Rs. 10 has touched a 52 week high of Rs. 3217.90 on 08-Jul-2024 and a 52 week low of Rs. 2221.05 on 26-Oct-2023.
Last one week high and low of the scrip stood at Rs. 2954.05 and Rs. 2892.25 respectively. The current market cap of the company is Rs. 1982505.10 crore.
The promoters holding in the company stood at 50.33%, while Institutions and Non-Institutions held 39.24% and 10.43% respectively.
Reliance Industries is all set to commission its first solar giga-factory in the FY25 as it pivots a green pathway to achieve net zero carbon emissions from operations by 2035. It is targeting to commission the first train of 20GW solar PV (photovoltaic) manufacturing by the end of 2024-25 fiscal (April 2024 to March 2025) and scale up to 20GW in a phased manner over 2026.
The solar giga factory will include manufacturing of PV modules, cells, wafers and ingots, polysilicon, and glass at a single location. The modules convert sunlight into electricity. It is also targeting industrialising sodium-ion cell production at the MW level in 2025 and first 50 MWh a year lithium battery cells pilot in 2026.
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.
