Reliance Industries share price were active in trade on February 18, 2025. The stock initially fell 0.6% to a low of ₹1,216.4 per share but later rebounded after the government announced an agreement with Reliance New Energy Battery Ltd, a subsidiary of RIL, for advanced chemistry cell (ACC) battery manufacturing. The stock recovered 1.1% from its low, reaching an intraday high of ₹1,229.95 before trading at ₹1,225.9 on the BSE, up 0.09% at 12:40 PM. Meanwhile, the BSE Sensex was down 155 points (0.20%).
The Ministry of Heavy Industries (MHI) signed a Programme Agreement with Reliance New Energy Battery Ltd under the Production Linked Incentive (PLI) scheme for ACC batteries. The agreement grants RIL a 10 GWh ACC battery capacity, making it eligible for incentives under India’s ₹18,100 crore PLI ACC scheme.
This initiative is part of the ‘National Programme on Advanced Chemistry Cell (ACC) Battery Storage’, approved by the government in May 2021. The scheme aims to establish a total battery manufacturing capacity of 50 GWh, and with RIL’s allocation, the cumulative capacity awarded has now reached 40 GWh. Earlier, in March 2022, three other companies were awarded a total of 30 GWh.
Reliance New Energy Battery Ltd operates under RIL’s New Energy vertical, which focuses on decarbonisation and achieving net-zero carbon emissions by 2035. So far, the company has invested ₹6,700 crore in acquisitions and infrastructure to develop a scalable energy ecosystem.
During the Union Budget for FY 2025-26, Finance Minister Nirmala Sitharaman announced that the government will exempt 35 additional capital goods for EV battery production from Basic Customs Duty (BCD) to promote domestic manufacturing of lithium-ion batteries. (suggest a catchy title and a summary within 180 characters)
Reliance Industries Limited, based in Mumbai, Maharashtra, is an Indian multinational conglomerate engaged in energy, petrochemicals, natural gas, retail, entertainment, telecom, mass media, and textiles.
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Published on: Feb 18, 2025, 1:30 PM IST
Kusum Kumari
Kusum Kumari is a Content Writer with 4 years of experience in simplifying financial market concepts. Currently crafting insightful content at Angel One, She specialise in breaking down complex topics into easy-to-understand pieces, blending expertise in market fundamentals and technical analysis.
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