Saturday , October 16 2021

Reliance Industries gains as its arm signs cooperation agreement with Stiesdal

Reliance Industries is currently trading at Rs. 2676.50, up by 7.95 points or 0.30% from its previous closing of Rs. 2668.55 on the BSE.

The scrip opened at Rs. 2683.00 and has touched a high and low of Rs. 2688.00 and Rs. 2671.90 respectively. So far 53685 shares were traded on the counter.

The BSE group ‘A’ stock of face value Rs. 10 has touched a 52 week high of Rs. 2724.70 on 11-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. 2724.70 and Rs. 2568.10 respectively. The current market cap of the company is Rs. 1811051.40 crore.

The promoters holding in the company stood at 50.59%, while Institutions and Non-Institutions held 38.38% and 11.03% respectively.

Reliance Industries’ (RIL) wholly owned subsidiary — Reliance New Energy Solar (RNESL) and Denmark-based Stiesdal A/S (Stiesdal) have signed a cooperation agreement for technology development, and manufacturing of Stiesdal’s HydroGen Electrolyzers in India.

Stiesdal is founded by Henrik Stiesdal, a wind power pioneer and leading thought leader in global renewable industry. Stiesdal is engaged in developing and commercializing several technologies to counter climate crisis. The new technology for HydroGen Electrolyzers has the potential to deliver significant cost reduction compared to currently available technologies thereby paving the way for rapid decarbonization and commercialization of affordable Green Hydrogen – a key enabler in achieving India’s green energy transition.

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.

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