News for Sterling and Wilson Solar Limited (SWSOLAR.NS)

The order involves development, design, construction and commissioning of solar PV power plants aggregating 961 mw at five locations along with battery energy storage systems with total installed capacity of 455 mw, the company said, adding these projects will be owned and operated by Niger Delta Power Holding Company, a Nigerian government entity.

The MoU is for the development, design, construction, and commissioning of solar PV power plants aggregating 961 MWp at five different locations in Nigeria along with battery energy storage systems with total installed capacity of 455 MWh.

The acquisition is part of the USD 2 billion Ambani had earmarked for acquisitions to create clean energy capabilities. Ambani had at Reliance's annual general meeting last year announced spending of Rs 60,000 crore on creating clean energy manufacturing capacity and Rs 15,000 crore on the value chain and technology.

After the acquisition, Reliance Industries subsidiary Reliance New Energy holds 40.00% of the total paid-up equity share capital of Sterling & Wilson Renewable

Read more about Reliance Industries slips 7% in two days, loses over Rs 1-trn in market cap on Business Standard. Meanwhile, the company has issued a clarification on loan of Rs 750 crore granted to Shapoorji Pallonji Company by its arm Reliance Ventures Limited

Billionaire Mukesh Ambani's Reliance Industries Ltd has floated Reliance New Energy Solar Ltd (RNESL) to operate its new energy business. Adani's ogistics-to-energy conglomerate has set up a new subsidiary ANIL to handle and operate its renewable energy (RE) business

December 31, 2021 BSE Limited ... | December 31, 2021

Billionaire Mukesh Ambani's Reliance Industries Ltd on Friday announced the buyout of British battery maker Faradion Ltd for an enterprise value of £100 million, as the oil-to-retail conglomerate continued with the acquisition of end-to-end technology for its multi-billion-dollar clean energy portfolio. Reliance New Energy Solar Ltd (RNESL), a unit of the nation's most valuable company, signed definitive agreements to acquire 100 per cent shareholding in Faradion for an enterprise value of £100 million and will invest an additional £25 million as growth capital to accelerate the commercial roll-out, the company said in a statement. Based out of Sheffield and Oxford in the UK and with its patented sodium-ion battery technology, Faradion is one of the leading global battery technology companies.

Reliance New Energy Solar Ltd (RNESL), a unit of the nation's most valuable company, signed definitive agreements to acquire 100 per cent shareholding in Faradion

The acquisition can go up to 51.07 per cent of equity share capital of SWREL in the eventuality of full acceptance of the open offer.

Stocks In News: Check out the companies making the biggest headlines before the opening bell.

One may expect Nifty to show choppy movement with weak bias for the short term. Further weakness from here could slide Nifty down to the important support of 17,600 levels, says Nagaraj Shetti of HDFC Securities.

Focus on automobile cos, F&O new players, oil & gas stocks, Dhanlaxmi Bank, Welspun Corp, L&T Tech, Inspirisys, Jai Corp, Jubilant Foodworks, GR Infraprojects, Sterling & Wilson

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The immediate intraday support of 10 period EMA is going to be crucial at 15,900 levels. Any movement below this area for a few hours on Friday could drag index into a reasonable downward correction, says Nagaraj Shetti of HDFC Securities.