Reliance Industries Ltd’s inventory was energetic in buying and selling on Tuesday, February 18, 2025, recovering from early losses after the federal government introduced an settlement with Reliance New Power Battery Restricted, a subsidiary of RIL, for superior chemistry cell (ACC) improvement.
In keeping with a press launch by the Press Data Bureau (PIB), the Ministry of Heavy Industries (MHI), Authorities of India, signed a Programme Settlement with Reliance New Power Battery Restricted below the Manufacturing Linked Incentive (PLI) scheme for ACC manufacturing.
The corporate mentioned, “This settlement awards Reliance New Power Battery Restricted a ten GWh ACC capability and makes it eligible to obtain incentives below India’s Rs 18,100 crore PLI ACC scheme.”
RIL’s participation is a part of the federal government’s ‘Nationwide Programme on Superior Chemistry Cell (ACC) Battery Storage,’ which was accepted by the Cupboard in Could 2021 with an total price range of Rs 18,100 crore.
The scheme goals to determine a complete manufacturing capability of fifty GWh, and RIL’s inclusion has raised the Centre’s cumulative awarded capability to 40 GWh. Beforehand, three different beneficiaries have been granted a mixed capability of 30 GWh in March 2022.
Reliance New Power Battery Ltd operates throughout the firm’s New Power division, which goals to realize net-zero carbon emissions by 2035 by way of decarbonization and sustainable vitality initiatives. RIL has invested Rs 6,700 crore in its new vitality enterprise, together with acquisitions, to construct a scalable vitality ecosystem.
In the meantime, throughout the presentation of the Union Finances for FY2025-26, Finance Minister Nirmala Sitharaman introduced that the federal government will exempt 35 further capital items required for electrical car (EV) battery manufacturing from Primary Customs Responsibility (BCD) to spice up home lithium-ion battery manufacturing.
On the inventory market, Reliance Industries’ shares initially declined by 0.6% intraday, reaching a low of Rs 1,216.4 per share. Nevertheless, after the announcement, the inventory rebounded, rising 1.1% from the day’s low to hit a excessive of Rs 1,229.90 per share. Nevertheless, by 3:30 pm, RIL shares closed 0.078% decrease at Rs 1,223.95 on NSE.
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