Reliance Industries Ltd’s stock was active in trading on Tuesday, February 18, 2025, recovering from early losses after the government announced an agreement with Reliance New Energy Battery Limited, a subsidiary of RIL, for advanced chemistry cell (ACC) development.
According to a press release by the Press Information Bureau (PIB), the Ministry of Heavy Industries (MHI), Government of India, signed a Programme Agreement with Reliance New Energy Battery Limited under the Production Linked Incentive (PLI) scheme for ACC manufacturing.
The company said, “This agreement awards Reliance New Energy Battery Limited a 10 GWh ACC capacity and makes it eligible to receive incentives under India’s Rs 18,100 crore PLI ACC scheme.”
RIL’s participation is part of the government’s ‘National Programme on Advanced Chemistry Cell (ACC) Battery Storage,’ which was approved by the Cabinet in May 2021 with an overall budget of Rs 18,100 crore.
The scheme aims to establish a total manufacturing capacity of 50 GWh, and RIL’s inclusion has raised the Centre’s cumulative awarded capacity to 40 GWh. Previously, three other beneficiaries were granted a combined capacity of 30 GWh in March 2022.
Reliance New Energy Battery Ltd operates within the company’s New Energy division, which aims to achieve net-zero carbon emissions by 2035 through decarbonization and sustainable energy initiatives. RIL has invested Rs 6,700 crore in its new energy business, including acquisitions, to build a scalable energy ecosystem.
Meanwhile, during the presentation of the Union Budget for FY2025-26, Finance Minister Nirmala Sitharaman announced that the government will exempt 35 additional capital goods required for electric vehicle (EV) battery manufacturing from Basic Customs Duty (BCD) to boost domestic lithium-ion battery production.
On the stock market, Reliance Industries’ shares initially declined by 0.6% intraday, reaching a low of Rs 1,216.4 per share. However, after the announcement, the stock rebounded, rising 1.1% from the day’s low to hit a high of Rs 1,229.90 per share. However, by 3:30 pm, RIL shares closed 0.078% lower at Rs 1,223.95 on NSE.
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