Shares of Reliance Industries Ltd. rose by 1.79% to ₹1,293.60 on the NSE as of 11:54 AM today following the announcement of a strategic investment in the low-carbon energy sector.
Key Highlights:
- Acquisition Details:
Reliance Industries’ U.S. unit has acquired a 21% stake in Wavetech Helium, a U.S.-based helium production company, for $12 million. This marks Reliance’s foray into the helium production industry, which is seen as a significant step toward expanding its green energy portfolio. - Strategic Importance:
Helium, a by-product of natural gas extraction, plays a critical role in green technologies, medical applications, aerospace, fibre optics, and scientific research. This move aligns with Reliance’s commitment to achieving net-zero carbon emissions by 2035. - Green Energy Investments:
Reliance has been proactively diversifying into the renewable energy space. In 2021, the conglomerate announced a $10 billion investment to develop green energy projects, including solar, hydrogen, and other renewable resources.
Outlook:
This acquisition is expected to bolster Reliance’s position in the global green energy market, enhancing its portfolio with a focus on cutting-edge technologies. The news has fueled investor optimism, contributing to the stock’s upward momentum today.
TOPICS:
Reliance Industries