Reliance s O2C, new energy business may be valued over $100 billion: Report
SECTIONS
Last Updated: Jul 18, 2021, 02:32 PM IST
Share
Synopsis
Reliance currently has three verticals oil-to-chemical (O2C) business that houses its oil refineries, petrochemical plants and fuel retailing business; digital services that comprises telecom arm Jio; and retail including e-commerce. New Energy will be the fourth vertical.
Agencies
At the time of announcing talks to sell stake to Aramco in 2019, Ambani had put USD 75 billion as the valuation of O2C business.
Billionaire Mukesh Ambani-led Reliance Industries Ltd s plans for investing Rs 75,000 crore in solar, batteries, fuel cells and hydrogen could create valuation of USD 36 billion (Rs 2.6 lakh crore) for the new energy business, Wall Street brokerage Bernstein Research said in a report.
Loading the player.
Apple announces first-ever $200 million carbon removal initiative
Cupertino giant Apple on Thursday, April 15, announced a first-of-its-kind carbon removal initiative called Restore Fund . Under this new initiative investments will be made in forestry projects to remove carbon from the atmosphere. The new initiative is part of Apple s broader goal of becoming carbon neutral across its entire value chain by 2
COVID-19 vaccine: Centre permits Mumbai s Haffkine Institute to produce Covaxin
The Centre has given its nod to Mumbai-based Haffkine Institute to manufacture Bharat Biotech s COVID-19 vaccine Covaxin. Technology transfer will take place from Bharat Biotech to Haffkine for manufacturing Covaxin. Haffkine has been given a time of 1 year for it