RIL arm wins PLI order for 10 GWh battery cell capacity; stock off lows

Reliance share price: This agreement makes Reliance New Energy Battery Ltd eligible to receive incentives under India's Rs 18,100 crore PLI ACC scheme

Reliance Industries share price was buzzing in trade on Tuesday, February 18, 2025. The stock erased losses after the Government said it has signed an agreement with Reliance New Energy Battery Limited, a subsidiary of RIL, for advanced chemistry cell (ACC).

 

In a press release, Press Information Bureau (PIB) said that the Ministry of Heavy Industries (MHI), Government of India, has signed a Programme Agreement with Reliance New Energy Battery Limited under the Production Linked Incentive (PLI) scheme for ACC.

 

“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,” the statement said.

 

 

RIL’s tender 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 a total outlay of Rs 18,100 crore.

 

The scheme intended to achieve a total manufacturing capacity of 50 GWh and RIL’s agreement has taken the Centre’s cumulative capacity award to 40 GWh till date. Earlier, three other beneficiaries were allocated a total capacity of 30 GWh in March 2022.

 

On the bourses, Reliance Industries shares fell 0.6 per cent intraday to hit a low of Rs 1,216.4 per share. However, RIL stock erased losses amid the news announcement, and turned positive.

 

It bounced back 1.1 per cent from the day’s low to hit a high of Rs 1,229.95 per share. At 12:40 PM, RIL share price was quoting at Rs 1,225.9, up 0.09 per cent on the BSE. By comparison, the BSE Sensex was down 155 points (0.20 per cent) at the time of writing this report.

 

Reliance New Energy Battery Ltd is part of the company’s New Energy vertical. The segment aims to achieve net carbon zero by 2035 through decarbonisation and new energy. So far, RIL’s new energy business has made investments, including towards acquisitions, worth Rs 6,700 crore to build a scalable and enabling energy ecosystem.

 

Meanwhile, during the presentation of the Union Budget for FY2025-26 (Budget 2025), Finance Minister Nirmala Sitharaman said the Government will exempt 35 additional Capital Goods for electric vehicle (EV) battery manufacturing from Basic Customs Duty (BCD) to boost the production of lithium-ion batteries within India.