Reliance Industries Gains After Its Arm Invests In Energy Storage Company

Reliance Industries' subsidiary Reliance New Energy Solar has joined hands with strategic investors Paulson & Co. Inc., Bill Gates and others to invest $144 million in the Massachusetts-based energy storage company Ambri. As part of the investment, RNESL will put in $50 million to acquire 42.3 million shares of preferred stock in energy storage company. Reliance Industries shares rose as much as 1 per cent to hit an intraday high of ...