Highlights of RIL’S AGM Today

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Highlights of RIL’S AGM Today
Credit: © Reuters.

By Aditya Raghunath

Investing.com -- These are a few highlights of Mukesh Ambani’s speech at the Reliance Industries Ltd (NS: RELI )’ Annual General Meeting (AGM) today:

  1. RIL’s consolidated revenue was Rs 5,40,000 crore, consolidated EBITDA was Rs 98,000 crore. Almost 50% of EBITDA was contributed by consumer businesses.
  2. Saudi Aramco (SE: 2222 ) Chairman Yasir Al-Rumayyan join RIL board. Aramco deal to be “formalised in an expedited manner during this year”.
  3. New green energy business plan of Rs 75,000 crore over the next three years. “Will invest Rs. 60, 000 crore in building 4 giga-factories at the Jamnagar complex. RIL will establish and enable at least 100 GW of solar energy by 2030. We will build an advanced energy storage battery factory, a fuel cell factory, a solar photovoltaic module factory, and an electrolyzer factory at the Jamnagar complex,” Mukesh Ambani said.
  4. Reliance JioPhone Next to go on sale from September 10, 2021 on the occasion of Ganesh Chaturthi.
  5. “We are confident of being first-to-launch full-fledged 5G services in India,” Mukesh Ambani
  6. Jio and onboard 200 million more customers. “It will be by far the most affordable smartphone globally.”
  7. Alphabet CEO Sundar Pichai said, “We are taking our partnership further with 5G partnership between Google (NASDAQ: GOOGL ) Cloud and Jio.” “Jio will use Google Cloud to power Jio's 5G technologies,” Mukesh Ambani said.
  8. Reliance Retail can grow at least 3x in the next 3-5 years. Can create 10 lakh jobs over next three years.

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  • Dev Dutt @Dev Dutt
    RIL to the moom :D
    Like 2
  • Romit Kumar @Romit Kumar
    Not to forget that at present almost 60% of revenue comes from oil/chemical business is is down by 27%. Also retail business was not profitable in fy 20-21. So dont think that just because some good outlook discussed in a meeting will sky rocket the share price. It will rise as fundamentals are good but no immediate reaction
    Like 5
  • Nilesh Jadhav @Nilesh Jadhav
    Reliance is growing fast . also share price will increase.
    Like 6
  • Dr Shashank M Hiremath @Dr Shashank M Hiremath
    Fantastic news
    Like 3
    • Suresh Kumar @Suresh Kumar
      Only news
      Like 0
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  • Krishan Bhargava @Krishan Bhargava
    Reliance will lead recovery of Indian economy.
    Like 4
  • Rashmi Ranjan Mohanty @Rashmi Ranjan Mohanty
    nothing new
    Like 0
  • Gaurav Mahajan @Gaurav Mahajan
    10% tomorrow
    Like 6
    • vinay prajapati @vinay prajapati
      10% down
      Like 0
    • Himanshu Mathur @Himanshu Mathur
      flat tomorrow
      Like 1
    • Sachin Agarwal @Sachin Agarwal
      1250 is my entry target.
      Like 1
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