Rajesh Exports forms 100% subsidiary ACC Energy Storage Pvt Ltd.

Rajesh Exports Ltd. (BSE: 531500, NSE: RAJESHEXPO) being the world's largest Gold Company engaged in Gold Refining, Gold Bullion Manufacture and Supply, Gold Jewellery Manufacture, Export, Wholesale and Retail and owning the world's most trusted Gold Brand "Valcambi" is foraying into Advanced Technology Solutions with a focus on Energy Storage Solutions.

REL has been selected by the Government Of India as one among the three successful participants in the Rs. 18,100 Crores PLI Scheme for production of Advanced Chemistry Cells. The other two selected Companies being Reliance Industries and Ola Electric. As per the requirement of the PLI Scheme REL has incorporated a 100% Subsidiary in the name of ACC Energy Storage Pvt Ltd. The venture of manufacture of Advanced Chemistry Cells would be under the newly formed 100% Subsidiary.

REL would also be initiating further steps to emerge as a leading global player in the Energy Storage Sector and to meet the requirements under the PLI Scheme.

Shares of Rajesh Exports Limited was last trading in BSE at Rs. 745.80 as compared to the previous close of Rs. 716.00. The total number of shares traded during the day was 28234 in over 2370 trades.

The stock hit an intraday high of Rs. 769.45 and intraday low of 711.65. The net turnover during the day was Rs. 20810103.00.

Source : Equity Bulls

Keywords

RajeshExports INE343B01030 NewBusinessForay AdvancedTechnologySolutions EnergyStorageSolutions