Shares of Reliance Infrastructure gained as much as 6% in trade on Wednesday, February 19, amid media reports that the company is looking to enter the renewable energy (RE) equipment manufacturing space. However, a lack of disclosure by the company to the exchanges prompted BSE to seek clarification from Reliance Infra on the same.
“The Exchange has sought clarification from Reliance Infrastructure Ltd on February 19, 2025, with reference to news appeared in www.thehindu.com dated February 19, 2025, quoting “Reliance Infrastructure plans to set up solar, battery manufacturing units”,” an exchange filing stated. The reply was awaited.
RInfra’s Expansion Plans
Media reports by Press Trust of India (PTI) and Hindu Businessline, citing industry sources, stated on Tuesday that in a bid to expand its product portfolio, the Anil Ambani group company is looking to set up integrated solar and battery manufacturing units.
The report by Hindus Businessline suggested that Reliance Infrastructure plans to establish a facility under its Integrated Solar Manufacturing initiative to increase the production of solar panels and components. At the same time, the company will set up an Integrated Battery Manufacturing unit to work on advanced energy storage solutions for grid use and electric vehicles.
The Reliance Group company has already appointed Ivan Saha as Chief Executive Officer (CEO), Renewable Manufacturing, and Mushtaque Hussain as Chief Executive Officer (CEO), Battery Manufacturing, the PTI report added.
Saha, who has over 30 years of experience in semiconductors and solar technology and device design, has served organisations like Vikram Solar and ReNew Power. Meanwhile, Hussain, who brings over 25 years of expertise in the automotive, renewable energy, consumer electronics, and power tools sectors, has held key leadership roles in companies like Reliance Industries Ltd (RIL) and Tesla.
RInfra stock soars 6%
Against this backdrop, shares of Reliance Infrastructure jumped 5.94% to ₹263.60 apiece on the BSE. Reliance Infrastructure share price opened at ₹245.75, below its previous close of ₹248.80. However, the stock soon rebounded to trade in the green. At 1.30 pm, Reliance Infra shares were up 3.4% at ₹257.30 on the BSE.
In the last one year, the stock has rallied 14%, taking its market capitalisation past the ₹10,200 crore mark.
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