Reliance Industries shines on entering into technology licensing agreement with Nel Hydrogen Electrolyser AS

22 May 2024 Evaluate

Reliance Industries is currently trading at Rs. 2920.55, up by 49.25 points or 1.72% from its previous closing of Rs. 2871.30 on the BSE.

The scrip opened at Rs. 2872.90 and has touched a high and low of Rs. 2930.75 and Rs. 2872.90 respectively. So far 16692 shares were traded on the counter.

The BSE group 'A' stock of face value Rs. 10 has touched a 52 week high of Rs. 3024.80 on 04-Mar-2024 and a 52 week low of Rs. 2221.05 on 26-Oct-2023.

Last one week high and low of the scrip stood at Rs. 2930.75 and Rs. 2796.60 respectively. The current market cap of the company is Rs. 1942752.88 crore.

The promoters holding in the company stood at 50.31%, while Institutions and Non-Institutions held 39.24% and 10.45% respectively.

Reliance Industries (RIL) has entered into a technology licensing agreement with Nel Hydrogen Electrolyser AS, a fully owned subsidiary of Nel ASA. The agreement provides RIL with an exclusive license for Nel’s alkaline electrolysers in India and also allows RIL to manufacture Nel’s alkaline electrolysers for captive purposes globally. 

Through the agreement, Reliance gets access to Nel’s leading, proven technology platform for manufacturing electrolysers. RIL has successfully built multiple businesses of truly global scale. This partnership of Nel’s robust technology platform with RIL’s execution prowess – will further add to the success story for both partners.

Both partners will also collaborate on future performance improvements and cost optimization through research and development (R&D), value engineering, standardization and modularization to improve the competitiveness of the alkaline technology platform. According to the agreement, Nel can procure equipment from Reliance for its own projects. Nel will continue to serve the Indian market with technology platforms that are not covered by the agreement.

Reliance Industries (RIL) is India’s largest private sector company. The company’s activities span hydrocarbon exploration and production, petroleum refining and marketing, petrochemicals, retail and 4G digital services.


Reliance Industries Share Price

2954.55 25.90 (0.88%)
14-Jun-2024 16:01 View Price Chart
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