RIL sets up subsidiary in Singapore; stock ends 4-session losing streak

Reliance Industries (RIL) has incorporated a wholly owned subsidiary, named REC Sustainable Energy Solutions, in Singapore to set up a global capability centre for consolidating research and development (R&D) activities to support the company’s new energy initiatives. Reacting to the news, RIL share price rose up to 0.58% in opening trade today but failed to hold momentum, swinging between gains and losses. The country’s most valued stock has been under stress for the last four sessions, falling over 5% to touch its 52-week low of ₹1,193.65 in the previous session.

At the time of reporting, RIL shares were trading 0.4% higher at ₹1,220.65 with a market capitalisation (m-cap) of ₹16.51 lakh crore. The counter touched a high and low of ₹1,222.85 and ₹1,212.50, respectively, in the first hour of trade so far. Meanwhile, the equity benchmarks Sensex and Nifty rose up to 0.6% as investors cheered lower-than-expected domestic retail inflation eased concerns about potential monetary tightening by the Federal Reserve after a hotter U.S. CPI print of 3% in January.

The oil and gas heavyweight is down over 24% from its 52-week high of ₹1,608.95 touched on July 8, 2024, while the counter has lost 17% in six months and 16% in the last one year.

Technically, RIL shares are trading lower than 5-day, 20-day, 50-day, 100-day, and 200-day moving averages, and the stock turned ‘Bearish’ from ‘Mildly Bearish’ on February 12, 2025.

Sets up new subsidiary in Singapore with investment of $100,000

In an exchange filing last evening, RIL said that it has established a subsidiary in Singapore, REC Sustainable Energy Solutions, with an investment of $100,000 towards an initial subscription of 100,000 shares of $1 each. It will be a global capability centre for consolidating research and development (R&D) activities, facilitating the recruitment of global talent, and providing technical and procurement services to support the company’s new energy initiatives.

Notably, Reliance has committed ₹75,000 crore for new energy venture to establish an integrated manufacturing ecosystem for solar value chain, battery energy storage systems (BESS) and electrolysers at Jamnagar, Gujarat. 

Reliance’s new energy business is currently developing first-generation bifacial solar panels using indigenised HJT technology from REC Singapore, its wholly owned subsidiary, to develop 1 Gen bifacial solar panels with cell efficiency exceeding 26%. The conglomerate is developing the first phase of its integrated solar production facilities including modules, cells, glass, wafer, ingot, and polysilicon; and plans to commence the production of its solar photovoltaic (PV) modules soon. In the first phase, the company aims to have an annual capacity of 10 GW, which will be further expanded to 20 GW with the help of giga-factory, which is designed for modular expansion at minimal cost and shortest time possible.

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