Reliance Industries (RIL) The price of the action has affected a height of 52 weeks of 2,724.70 Rs addition of 2% at the beginning of the commerce of 11 October after the Company has acquired a participation controlling in the solar REC holdings “Reliance New Energy Solar (RNNES), a full-shareholder affiliate of Reliance Industries (RID), announced the acquisition of the 100% participation of REC Solar Holdings as China National Bluestar (Group REC) ), for a company value of 771 million USD, “said Reliance Industries in a deposit of BSE.
In a separate ad, New Energy Solar dependency said that it acquires 40% sterling and Wilson Solar (SWSL) into a transaction highlighting the company’s own energy ambitions Rec At its head office in Norway and its operational headquarters in Singapore and Regional Hubs in North America, Europe, Australia and Asia-Pacific Rec has more than 600 utility patents and design, of which 446 are granted and balance is being evaluated.
Reliance strongly supports planned REC expansions, including 2 to 3 GW cells and module capacity in Singapore, new 2 GW cells and a 2 GW module unit in France and another GW module factory in the United States In India, Reliance plans to use this state-of-the-art technology in their fully integrated metal silicon in the manufacture of Giga PV panel manufacturing Dhirubhai Ambani Green Energy Green complex, from 4 GW with respect to capacity a year and grow 10 GW a year.
“It complies with our strategy to invest in new and advanced technologies and operating capacities to achieve the target of Reliance to allow 100 GW clean and green energies before the end of this decade,” said Mukesh Ambani, President of Reliance Industries.
Jefferies
Research House has maintained a purchasing note on Reliance Industries and raised the target price at 3,050 rupees of 2,580 rupees per share The company has acquired Rec Group, built-in solar PV manufacturer for 771 million USD. Rec is the only international company to market technologies that consumes 75% less energy compared to Chinese companies Rec has patented Tech & Opens an export market for the company’s solar company.
We included the company’s assessment of the company’s solar companies in our target and an upgrade of 10 to 12% of the EBITDA consensus O2C in fiscal 2002, said Jefferies Kotak institutional assets The Kotak institutional actions maintained its additional note for the stock, but revised the rise in its estimate of fair value. “Announced acquisitions and announced RTIL links in the new energy company have put in place the initial construction elements of technology and expertise to set up the four Giga factories offered over the next few years. We Let’s keep adding a revised fair value of RS2 800 NOTING short-term triggers (1) recovery in the refining cycle, (2) a sustained momentum in subscriber additions post the imminent launch of next jiophone, ( 3) a potential rise in telecom rates and (4) anticipated rebound in retail trade. “
RNNES-Sterling Deal
In the first stage of the agreement, RNNES acquires a 15.46% interest in Sterling & Wilson Solar at 375 rupees per share or about 1,100 rupees In the second step, Shapoorji Pallonji and Khurshed Daruvala, the promoters of Sterling and Wilson, sell 1.84 crore shares (about 9.7% equity) to RNNES at the same price of 375 rupees per share This will require the reliance unit to provide an open offer to public shareholders for an additional 25% interest In case the open offer does not push the total participation of RNNES at 40%, Shapoorji Pallonji and Daruvala will sell more of their actions to make a difference.