Shares of Reliance Infrastructure Ltd logged a sharp uptick in Wednesday's trade. The stock surged 5.94 per cent to hit a high of Rs 263.60. It was last seen trading 4.08 per cent up at Rs 258.95. At this price, the scrip has slipped 18.88 per cent in 2025 so far.
The company said it is planning a strategic entry into the renewable energy manufacturing industry. It would be establishing integrated solar and battery manufacturing units.
"As part of its Integrated Solar Manufacturing initiative, RInfra will be setting up a state-of-the-art facility to boost the production of solar panels and components, promoting self-sufficiency in clean energy. Simultaneously, its Integrated Battery Manufacturing unit will focus on developing advanced energy storage solutions for grid applications and electric mobility," the firm stated in a release.
Separately, bourses BSE and NSE have sought clarification from the company over a news report, titled "Reliance Infrastructure plans to set up solar, battery manufacturing units". A reply from Reliance Infra is awaited.
The counter saw high trading volume on BSE as around 12.17 lakh shares changed hands at the time of writing this story. The figure was higher than the two-week average volume of 4.68 lakh shares. Turnover on the counter came at Rs 31.38 crore, commanding a market capitalisation (m-cap) of Rs 10,119.17 crore. There were 71,874 sell orders today against buy orders of 54,155 shares.
The scrip traded higher than the 5-day, 20-day and 200-day simple moving averages (SMAs) but lower than the 10-day, 30-, 50-, 100-day and 150-day SMAs. Its 14-day relative strength index (RSI) came at 46.97. A level below 30 is defined as oversold while a value above 70 is considered overbought.
As per BSE, the stock has a negative price-to-equity (P/E) ratio of 4.27 against a price-to-book (P/B) value of 1.25. Earnings per share (EPS) stood at (-)60.46 with a return on equity (RoE) of (-)29.27.
Anil Ambani's RInfra is engaged in the business of providing EPC services, power distribution in Delhi and also in the implementation, operation and maintenance of several projects in defence sector and infrastructural areas such as metro, toll roads and airports. It has also executed the Mumbai Metro Line One project. As of December 2024, promoters held a 16.50 per cent stake in the company.