Reliance Industries has been in focus following multiple developments including clarifications on battery manufacturing plans, discussions for Venezuelan crude oil imports, and major investment announcements for Gujarat. The company's shares reached a day's low of ₹1,451.10 per share, down nearly 2.00% from the previous day's closing price of ₹1,475.30 per share, with a market capitalisation of ₹20,07,271.00 crore.

Battery Manufacturing Plans Clarification

Reports suggested that Reliance Industries had paused its lithium-ion battery cell production plans in India due to inability to secure Chinese technology. The reports indicated that discussions with Xiamen Hithium Energy Storage Technology, a Chinese firm, for licensing lithium iron phosphate (LFP) cell technology broke down when Hithium withdrew due to Beijing's tightened control over tech exports.

Reliance Industries responded by denying any changes to their battery manufacturing plans. The company stated it remains fully committed to building a world-class battery storage manufacturing ecosystem, covering everything from basic cells to complete containerised energy storage systems. All battery projects are progressing smoothly and remain on track according to the company's statement.

Venezuelan Crude Oil Import Discussions

Reliance Industries is in discussions with the US State and Treasury departments to secure approval for resuming crude oil imports from Venezuela. This initiative comes as India faces pressure to reduce Russian oil purchases, prompting the search for alternative sources.

Reliance previously imported Venezuelan oil under special US licenses, with PDVSA's internal records showing significant volumes. However, the US later tightened restrictions, suspending most licenses linked to PDVSA partners. The company's two refineries in Gujarat are designed to handle heavier, lower-cost grades like Venezuela's Merey crude. Reliance stated it would consider resuming Venezuelan crude purchases if sales to non-US buyers are permitted under US regulations and if offered at competitive rates.

Gujarat Investment Commitment

At the Vibrant Gujarat Regional Summit in Rajkot, Chairman Mukesh Ambani announced five major commitments for Gujarat's development. The headline announcement involved doubling Reliance's investment in Gujarat to ₹7.00 lakh crore over the next five years, building on the ₹3.50 lakh crore already invested in the state over the past five years.

Clean Energy and Infrastructure Projects

The investment plan encompasses multiple strategic initiatives:

• Jamnagar Transformation: Development into a global hub for clean energy, including solar power, battery storage, green hydrogen, sustainable fuels, and advanced green materials
• Kutch Solar Projects: Large-scale solar projects featuring multi-gigawatt solar plants with integrated storage and grid solutions for round-the-clock clean electricity
• AI Infrastructure: Construction of India's largest AI-ready data centre in Jamnagar
• Jio AI Platform: Launch of an AI platform enabling users to access artificial intelligence in their native languages

Social Development Initiatives

Reliance Foundation announced support for India's bid to host the 2036 Olympics in Ahmedabad, including management of a major sports complex. Additional commitments include building a world-class hospital in Jamnagar and expanding educational initiatives in the region.

Market Performance Context

Over the past five years, Reliance Industries stock has delivered returns of 53.00%, underperforming the NIFTY 50's return of 79.00% during the same period. Despite various operational challenges and market conditions, the company continues its aggressive expansion strategy across multiple sectors including energy, technology, and infrastructure development.

Reliance Industries has firmly rejected reports suggesting that its battery storage manufacturing initiatives have been put on hold, maintaining that all planned projects are progressing as expected. The company's clarification came in direct response to media speculation about the status of its battery manufacturing ambitions.

Company Response to Media Reports

On Monday, Reliance Industries issued a statement addressing claims made in a Bloomberg News report. The report had suggested that the conglomerate had paused its plans to manufacture lithium-ion battery cells in India, citing challenges in securing Chinese technology as the primary reason for the alleged delay.

RIL's Official Position

Contrary to the media reports, Reliance Industries emphasized that its battery storage manufacturing plans remain completely unchanged. The company described its projects as "progressing well," indicating that there have been no significant disruptions to the planned timeline or scope of the battery manufacturing initiative.

Strategic Importance of Battery Manufacturing

The battery storage manufacturing segment represents a crucial component of Reliance Industries' diversification strategy beyond its traditional oil and petrochemicals business. Lithium-ion battery cell production aligns with India's growing focus on electric vehicles and renewable energy storage solutions.

Market Context

The clarification comes at a time when several Indian companies are exploring opportunities in the battery manufacturing space, particularly as the government promotes domestic production capabilities in the clean energy sector. Reliance Industries' commitment to maintaining its battery manufacturing plans signals continued confidence in this strategic direction despite reported challenges in technology acquisition.