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Marking a new pivot for one of the worldâs biggest fossil-fuel billionaires.
By Rajesh Kumar Singh and Debjit Chakraborty, Bloomberg
27 Jun 2021 00:25
Image: Prashanth Vishwanathan/Bloomberg
Indian tycoon Mukesh Ambani unveiled an ambitious push into clean energy involving 750 billion rupees ($10.1 billion) of investment over three years, marking a new pivot for one of the worldâs biggest fossil-fuel billionaires.
Reliance Industries Ltd., which gets 60% of its revenue from oil refining and petrochemicals, plans to spend 600 billion rupees on four âgiga factoriesâ to make solar modules, hydrogen, fuel cells and to build a battery grid to store electricity. An additional 150 billion rupees will be invested in value chain and other partnerships, Asiaâs richest man told shareholders on Thursday.
M-cap of 6 of 10 top 10 companies zoom over Rs 1.11 lakh cr; Infosys, TCS top gainers
The market capitalisation of TCS soared Rs 30,961.06 crore to Rs 12,50,538.30 crore, the most among the top 10 companies, while Infosys added Rs 29,807.59 crore to its m-cap which stood at Rs 6,70,915.93 crore last week Infosys and Tata Consultancy Services (TCS) emerged as lead gainers among top 10 most valued companies BusinessToday.In
Updated Jun 27, 2021, 2:51 PM IST
Six of the top 10 most valued firms added Rs 1,11,220.5 crore to their overall market valuation last week. Infosys and Tata Consultancy Services (TCS) emerged as lead gainers.
State Bank of India (SBI), HDFC Bank, ICICI Bank, Infosys, and TCS saw gains in their market capitalisation (m-cap), whereas, Kotak Mahindra Bank, Reliance Industries Ltd. (RIL), Bajaj Finance, and Hindustan Unilever Ltd. (HUL) witnessed a fall in their m-cap.
Asia s richest man plans $10 billion investment in green energy msn.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from msn.com Daily Mail and Mail on Sunday newspapers.
Read more about Reliance Industries earns a place in the sun with global solar play on Business Standard. 100 GW by 2030 is more than twice the existing renewable capacity of any company in the world
Until now, the two billionaires, both hailing from Prime Minister Narendra Modis home state of Gujarat, have largely operated in their separate spheres. Ambani has leaned toward data-driven consumer businesses like retail and telecom, whereas Adani has focused on infrastructure and utilities. Clean energy would see them overlap.