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 scales record high on solar deals

10/11/2021 | 02:16am EST
FILE PHOTO: A bird flies past a Reliance Industries logo installed on its mart in Ahmedabad

BENGALURU (Reuters) - Shares of Reliance Industries rose 1.8% to a record high on Monday after the Indian oil-to-telecom conglomerate announced two deals over the weekend to buy solar capacity in its latest push towards becoming net carbon zero by 2035.

The deals came as the owner of the world's biggest refining complex aims to make India a hub for low-cost solar manufacture. In June, it committed to invest $10.1 billion in clean energy over three years.

Through its unit Reliance New Energy Solar Ltd, Reliance Industries is buying Norwegian-headquartered solar panel maker REC Solar Holdings for $771 million from China National Bluestar and an up to 40% stake in India's Sterling and Wilson Solar.

REC has patented technology and opens up the export market for Reliance's solar business, analysts at Jefferies said in a note on Sunday.

"REC's long operating history in Europe and the U.S. opens up the possibility of RIL exporting to these geographies," Jefferies said.

Shares of Sterling and Wilson Solar jumped 17% to their highest in nearly two years in heavy-volume trade, as the Reliance deal adds to its growing portfolio of projects globally.

About 11.9 million Sterling and Wilson shares had changed hands by 0508 GMT, 3.4 times their 30-day average.

Sterling and Wilson Solar has about 11.4 GWp of solar power projects across the world, and provides operations and maintenance services, according to a statement.

Reliance shares have risen about 35% this year, as of last close, while Sterling and Wilson stocks have gained 67.4%.

(Reporting by Vishwadha Chander in Bengaluru; Editing by Subhranshu Sahu)


ę Reuters 2021
Stocks mentioned in the article
ChangeLast1st jan.
RELIANCE INDUSTRIES LTD -1.75% 2477.45 Delayed Quote.6.48%
STERLING AND WILSON RENEWABLE ENERGY LIMITED 2.25% 404.2 End-of-day quote.5.70%
All news about RELIANCE INDUSTRIES LTD
05:38aIndian shares tumble on declines in tech firms, Bajaj Finserv
RE
01/19RJIL prepays Rs. 30,791 crore clearing all deferred spectrum liabilities acquired in au..
AQ
01/19Indian refiners' throughput recovery loses steam in December
RE
01/19RELIANCE INDUSTRIES : News Verification
PU
01/18Reliance's Telecom Arm Prepays Spectrum Dues Worth $4 Billion
MT
01/18Reliance Retail Acquires Majority Stake in Robotics Company for $132 Million
MT
01/14Reliance industries, hyundai motor, mahindra & mahindra submit bids under indian govern..
RE
01/14India's Aditya Birla Fashion to buy 51% stake in House of Masaba
RE
01/14Indian shares slip after five-day rally; HCL top drag ahead of results
RE
01/13Reliance Industries to Invest Over $80 Billion in Green Energy, Other Projects in Gujar..
MT
More news
Analyst Recommendations on RELIANCE INDUSTRIES LTD
More recommendations
Financials
Sales 2022 6 928 B 92 991 M 92 991 M
Net income 2022 574 B 7 705 M 7 705 M
Net Debt 2022 212 B 2 841 M 2 841 M
P/E ratio 2022 28,7x
Yield 2022 0,32%
Capitalization 16 026 B 215 B 215 B
EV / Sales 2022 2,34x
EV / Sales 2023 2,01x
Nbr of Employees 236 334
Free-Float 49,4%
Chart RELIANCE INDUSTRIES LTD
Duration : Period :
Reliance Industries Ltd Technical Analysis Chart | MarketScreener
Full-screen chart
Technical analysis trends RELIANCE INDUSTRIES LTD
Short TermMid-TermLong Term
TrendsBullishNeutralBullish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus OUTPERFORM
Number of Analysts 31
Last Close Price 2 521,60 INR
Average target price 2 670,66 INR
Spread / Average Target 5,91%
EPS Revisions
Managers and Directors
Mukesh Dhirubhai Ambani Chairman & Managing Director
Srikanth Venkatachari Joint Chief Financial Officer
Alok Agarwal Joint Chief Financial Officer
Savithri Parekh Secretary & Compliance Officer
Dipak Chand Jain Independent Non-Executive Director
Sector and Competitors
1st jan.Capi. (M$)
RELIANCE INDUSTRIES LTD6.48%215 491
EXXON MOBIL CORPORATION19.48%309 516
CHEVRON CORPORATION9.85%248 498
BP PLC19.24%105 381
CHINA PETROLEUM & CHEMICAL CORPORATION14.60%78 983
MARATHON PETROLEUM CORPORATION14.63%45 153