India’s largest company by market capitalisation, Reliance Industries, saw its shares rally 3% to reach a new 52-week high. The sharp rise in stock price was supported by increased trading volume. The company also announced the upcoming commissioning of a green energy complex in Jamnagar and a carbon fibre facility in Hazira. These developments are expected to boost Gujarat’s position in the green products and circular economy sectors. Top brokerages continue to recommend buying Reliance Industries shares.
IREDA plans to raise Rs 1,290 crore through a fresh issue of shares to augment capital base and Rs 860 crore through an offer for sale by the Government of India. With a loan book size of Rs 47,515 crore, IREDA is the country’s largest pure-play green energy financer. Long term investors may consider the IPO.
Arunachal Pradesh deputy Chief Minister Chowna Mein said that 98 small hydro power projects are registered for carbon credits under the Universal Carbon Registration, accumulating a substantial number of Carbon Offset Units for future trade. The successful implementation of these projects will not only bolster the state’s economy but also contribute to the nation’s energy security through clean and renewable sources.
Homegrown green energy company ReNew has secured a spot on MIT Technology Review’s prestigious ’15 Climate Tech Companies to Watch’ list. This accolade recognizes ReNew’s efforts to reduce greenhouse-gas emissions and climate threats. Founder Sumant Sinha expressed his pride and highlighted the company’s potential to aid India’s energy transition and decarbonization goals through initiatives such as battery storage and cleaner forms of hydrogen.
