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Date: 03-mar-2025 | By: Nuztrend Team
Reliance Industries Limited (RIL) witnessed a sharp decline of over 3% in its stock price on March 3, 2025, hitting a new 52-week low of ₹1,156. The dip comes after its subsidiary, Reliance New Energy Ltd., failed to meet a crucial deadline in setting up its battery cell manufacturing unit, triggering a potential ₹125 crore fine.
Reliance New Energy had secured a bid under the Indian government’s Production Linked Incentive (PLI) scheme to boost domestic battery cell production. However, delays in the project have led to financial penalties, raising concerns about the company’s ability to compete in the electric vehicle (EV) and clean energy markets.
Analysts believe Reliance’s stock performance will depend on its ability to recover from these setbacks. The company must address the delay in its battery production facility and reassure investors of its long-term clean energy strategy.
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Date: 03-Mar-2025
Indian stock markets declined after an optimistic start, with Sensex falling 200 points and Nifty down 50. Global trade concerns and major stock losses led to the downturn.
Date: 03-Mar-2025
Indian stock markets closed mixed on March 3, 2025, as Reliance fell 3.7% due to a missed deadline, while auto and IT stocks gained. Global trade tensions influenced investor sentiment.
