Reliance Industries shines on getting nod to acquire 100% equity stake of Reliance New Energy Battery
Reliance Industries is currently trading at Rs. 1292.00, up by 23.30 points or 1.84% from its previous closing of Rs. 1268.70 on the BSE.
The scrip opened at Rs. 1325.10 and has touched a high and low of Rs. 1325.10 and Rs. 1290.50 respectively. So far 601298 shares were traded on the counter.
The BSE group 'A' stock of face value Rs. 10 has touched a 52 week high of Rs. 1608.95 on 08-Jul-2024 and a 52 week low of Rs. 1202.10 on 20-Dec-2024.
Last one week high and low of the scrip stood at Rs. 1325.10 and Rs. 1225.60 respectively. The current market cap of the company is Rs. 1756772.65 crore.
The promoters holding in the company stood at 50.24%, while Institutions and Non-Institutions held 39.05% and 10.71% respectively.
Reliance Industries has received approval from board of directors to acquire 100% equity stake of Reliance New Energy Battery (RNEBL) from Reliance New Energy (RNEL), for an aggregate consideration of Rs 1 lakh. RNEBL is a step-down wholly owned subsidiary of the Company and post this acquisition RNEBL will become a direct wholly owned subsidiary of the Company.
RNEBL was incorporated in India on January 1, 2025 with an objective of undertaking business of manufacturing of battery cells, packs and containers and provide energy storage systems and solutions to various end-users. RNEBL is yet to commence commercial operations.
The said acquisition will enable the Company to engage in the development of energy storage manufacturing capabilities, including those utilising Advanced Chemistry Cells.
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.
