The operator of the world’s largest oil refining complex will repurpose a Rs 30,000 crore plant that currently converts petroleum coke into synthesis gas to produce blue hydrogen for USD 1.2-1.5 a kilogram, Reliance said in a presentation detailing the separation plan.
Billionaire Mukesh Ambani’s Reliance Industries is targeting to become one of the largest producers of blue hydrogen globally, producing zero-emission fuel at costs that will be half of the global average.
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// else // $ (‘#toptitleTXT’).html(tickTxt+typevar+’already exists in your watchlist’); // //} } //$ (‘.accdiv’).html(”); //$ (‘.accdiv’).html(appndStr); } }, //complete:function(d){ // if(typparam1==1) // { // watchlist_popup(‘open’); // } //} }); }); } else { var disNam =’stock’; if($ (‘#impact_option’).html()==’STOCKS’) disNam =’stock’; if($ (‘#impact_option’).html()==’MUTUAL FUNDS’) disNam =’mutual fund’; if($ (‘#impact_option’).html()==’COMMODITIES’) disNam =’commodity’; alert(‘Please select at least one ‘+disNam); } } else { AFTERLOGINCALLBACK = ‘overlayPopup(‘+e+’, ‘+t+’, ‘+n+’)’; commonPopRHS(); /*work_div = 1; typparam = t; typparam1 = n; check_login_pop(1)*/ } } function pcSavePort(param,call_pg,dispId) { var adtxt=”; if(readCookie(‘nnmc’)){ if(call_pg == “2”) { pass_sec = 2; } else { pass_sec = 1; } var url = ‘//www.moneycontrol.com/mccode/common/saveWatchlist.php’; $ .ajax({url:url, type:”POST”, //data:{q_f:3,wSec:1,dispid:$ (‘input[name=sc_dispid_port]’).val()}, data:{q_f:3,wSec:pass_sec,dispid:dispId}, dataType:”json”, success:function(d) { //var accStr= ”; //$ .each(d.ac,function(i,v) //{ // accStr+=”+v.nm+”; //}); $ .each(d.data,function(i,v) { if(v.flg == ‘0’) { var modalContent = ‘Scheme added to your portfolio.’; var modalStatus = ‘success’; //if error, use ‘error’ $ (‘.mc-modal-content’).text(modalContent); $ (‘.mc-modal-wrap’).css(‘display’,’flex’); $ (‘.mc-modal’).addClass(modalStatus); //$ (‘#acc_sel_port’).html(accStr); //$ (‘#mcpcp_addportfolio .form_field, .form_btn’).removeClass(‘disabled’); //$ (‘#mcpcp_addportfolio .form_field input, .form_field select, .form_btn input’).attr(‘disabled’, false); // //if(call_pg == “2”) //{ // adtxt =’ Scheme added to your portfolio We recommend you add transactional details to evaluate your investment better. x‘; //} //else //{ // adtxt =’ Stock added to your portfolio We recommend you add transactional details to evaluate your investment better. x‘; //} //$ (‘#mcpcp_addprof_info’).css(‘background-color’,’#eeffc8′); //$ (‘#mcpcp_addprof_info’).html(adtxt); //$ (‘#mcpcp_addprof_info’).show(); 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Shares of Reliance Industries Limited (RIL) were in focus on February 14, after global research firm Morgan Stanley put overweight call on the stock with target at Rs 2,926 per share, an upside of around 25 percent from current market price.
At 10:47 am, stock traded at Rs 2343.80 apiece on the BSE, down 1.39 percent, while the benchmark Sensex was down 1043.78 points or 1.79 percent at 57,109.14. RIL shares touched an intraday high of Rs 2,350.00 and an intraday low of Rs 2,300 on Monday.
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Billionaire Mukesh Ambani’s Reliance Industries is targeting to become one of the largest producers of blue hydrogen globally, producing zero-emission fuel at costs that will be half of the global average.
The operator of the world’s largest oil refining complex will repurpose a Rs 30,000 crore plant that currently converts petroleum coke into synthesis gas to produce blue hydrogen for USD 1.2-1.5 a kilogram, Reliance said in a presentation detailing the separation plan.
“In the interim, till the cost of green hydrogen comes down, RIL can be the first mover to establish a hydrogen ecosystem, with minimal incremental investment, in India,” Reliance Industries Ltd (RIL) said in the presentation.
“Transition to Net Carbon Zero provides a unique opportunity to unlock value through repurposing of assets and upgradation of configuration,” it said.
Citi on the other hand has a neutral call with target at Rs 2,750 per share, an upside of 17 percent from current level. The brokerage firm is of the view that $ 4 billion valuation ascribed to carved-out arm is well below $ 10 billion carrying value of assets. It believes exercise should be broadly value-neutral at an overall company level in the near term.
JP Morgan also has a neutral call with target at Rs 2,575 per share, an upside of 9 percent from current market price. The research firm is of the view that highlights are company’s long-term focus on hydrogen and in near-term on chemicals. “Focus is likely going to be technology induction and not deleveraging. We find valuation at Rs 30,000 crore of gasification subsidiary as underwhelming,” it said.
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