Log in
E-mail
Password
Show password
Remember
Forgot password ?
Become a member for free
Sign up
Sign up
New member
Sign up for FREE
New customer
Discover our services
Settings
Settings
Dynamic quotes 
OFFON
  1. Homepage
  2. Equities
  3. India
  4. NSE India Stock Exchange
  5. Reliance Industries Ltd
  6. News
  7. Summary
    RELIANCE   INE002A01018

RELIANCE INDUSTRIES LTD

(RELIANCE)
  Report
SummaryQuotesChartsNewsRatingsCalendarCompanyFinancialsConsensusRevisions 
SummaryMost relevantAll NewsAnalyst Reco.Other languagesPress ReleasesOfficial PublicationsSector newsMarketScreener Strategies

Reliance Industries : India's Reliance Industries invests nearly $29 million in Germany's NexWafe

10/12/2021 | 04:23pm EDT
FILE PHOTO: Labourers rest in front of an advertisement of Reliance Industries Limited at a construction site in Mumbai

(Reuters) - Indian oil-to-telecoms conglomerate Reliance Industries Ltd said on Tuesday its solar unit Reliance New Energy Solar Ltd (RNESL) will buy preferred shares of German firm NexWafe worth 25 million euros ($28.82 million).

RNESL agreed to buy 86,887 series C preferred shares of NexWafe at 287.733 euros per share, Reliance said, adding that RNESL would also be issued 36,201 warrants exercisable for one euro per warrant, subject to achievement of agreed milestones.

The investment is a part of NexWafe's 39-million euro Series C financing round, NexWafe said in a separate statement.

The investment, expected to be completed this month, will accelerate product and technology development for NexWafe, including completion of the commercial development of NexWafe's solar photovoltaics products on prototype lines in Freiburg, Reliance Industries said.

Reliance also entered into a partnership with NexWafe, through which the firm, led by Asia's richest man, Mukesh Ambani, will get access to the German company's proprietary technology and plans to build large-scale wafer manufacturing facilities in India using NexWafe processes and technology, NexWafe said.

RNESL also partnered with Denmark-based climate technology company Stiesdal A/S to manufacture HydroGen Electrolyzers that can produce hydrogen at lower cost, Reliance Industries said in a separate statement on Tuesday.

Reliance on Sunday had announced that RNESL would buy Norwegian-headquartered solar panel maker REC Solar Holdings for $771 million from China National Bluestar (Group) Co Ltd, and an up to 40% stake in India's Sterling and Wilson Solar Ltd

The company, in its shareholder meeting in June, announced it would invest $10.1 billion in clean energy over three years in a drive to become a net carbon zero company by 2035.

($1 = 0.8674 euros)

(Reporting by Anirudh Saligrama in Bengaluru)


© Reuters 2021
All news about RELIANCE INDUSTRIES LTD
10/20AMAZON COM : Singapore Panel Rejects Future Retail Bid to Be Excluded From Amazon Dispute
MT
10/20AMAZON COM : Singapore arbitration panel says India's Future Retail is party to dispute wi..
RE
10/19RELIANCE INDUSTRIES' : Retail Unit to Acquire 52% Stake in Designer Ritu Kumar's Company
MT
10/19India plans refiners' joint oil deals to cut import bill
RE
10/19RELIANCE INDUSTRIES : Nomura Downgrades Reliance Industries to Neutral From Buy on Limited..
MT
10/17RELIANCE INDUSTRIES : Brands to Acquire 40% Stake in Indian Designer Manish Malhotra's MM ..
MT
10/14Fight with Invesco is to preserve company, CEO of India's Zee says
RE
10/14RELIANCE INDUSTRIES : Latin American oil gains ground in India at Mideast expense - data
RE
10/13Invesco says it facilitated tie-up talks between India's Reliance and Zee
RE
10/13RELIANCE INDUSTRIES : New Energy Solar Limited (RNESL) and Denmark's Stiesdal A/S sign a c..
AQ
More news
Analyst Recommendations on RELIANCE INDUSTRIES LTD
More recommendations
Financials
Sales 2022 6 610 B 88 374 M 88 374 M
Net income 2022 576 B 7 704 M 7 704 M
Net Debt 2022 230 B 3 070 M 3 070 M
P/E ratio 2022 31,3x
Yield 2022 0,30%
Capitalization 17 163 B 229 B 229 B
EV / Sales 2022 2,63x
EV / Sales 2023 2,21x
Nbr of Employees 236 334
Free-Float 50,4%
Chart RELIANCE INDUSTRIES LTD
Duration : Period :
Reliance Industries Ltd Technical Analysis Chart | MarketScreener
Full-screen chart
Technical analysis trends RELIANCE INDUSTRIES LTD
Short TermMid-TermLong Term
TrendsBullishBullishBullish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus OUTPERFORM
Number of Analysts 31
Last Close Price 2 700,40 INR
Average target price 2 442,47 INR
Spread / Average Target -9,55%
EPS Revisions
Managers and Directors
Mukesh Dhirubhai Ambani Chairman & Managing Director
Srikanth Venkatachari Joint Chief Financial Officer
Alok Agarwal Joint Chief Financial Officer
K. Sethuraman Group Secretary & Chief Compliance Officer
Savithri Parekh Joint Secretary & Compliance Officer
Sector and Competitors
1st jan.Capi. (M$)
RELIANCE INDUSTRIES LTD36.02%229 313
EXXON MOBIL CORPORATION54.90%270 313
CHEVRON CORPORATION34.00%218 841
BP PLC42.50%99 811
CHINA PETROLEUM & CHEMICAL CORPORATION13.54%79 445
NESTE OYJ-13.46%45 785