Reliance Industries Chairman Mukesh Ambani is set to announce major plans for the company’s retail and Jio divisions at the company’s 46th annual general meeting (AGM) on August 28 at 2 p.m.
Analysts and investors are excited about the potential for value unlocking in RIL’s telecom and retail divisions, and are eager to hear Ambani’s plans for the future.
Bloomberg News has likened Ambani’s “once-a-year speech” to Warren Buffett’s annual letters to Berkshire Hathaway, in terms of its importance to investors. The AGM is expected to be a major event for the Indian business landscape and is likely to attract a lot of attention from both domestic and international investors.
Here are some of the key things that investors are hoping to hear from Ambani at the AGM:
- Details about the timeline and size of Reliance Retail and Jio’s IPOs
- Updates on the company’s progress in other key areas, such as energy and petrochemicals
- A vision for the company’s future growth.
The AGM is sure to be a closely watched event, and investors will be looking for any clues about Ambani’s plans for the future of Reliance Industries.
Retail investors, mutual funds and insurance companies increased their holdings in RIL since the last AGM. According to data from NSE, retail investors increased their stake in RIL to 22.5% in the June quarter from 19.5% in the March quarter.
Mutual funds and insurance companies increased their stake to 17.3% and 10.7%, respectively, in the June quarter from 15.8% and 9.8%, respectively, in the March quarter.
Reliance AMG 2023 Live Updates
The chairman Mukesh Ambani begins the conference with the success of Chandrayaan-3. He mentions Prime Minister Narendra Modi’s address on Independence Day in his speech to shareholders on August 28. He also cited the success of India’s third lunar mission, Chandrayaan-3, as an example of the country’s growing technological prowess.
Ambani said that Modi’s speech had inspired him to “dream big” for RIL and for India. He said that he was committed to making RIL a global leader in the areas of energy, retail, and technology.
Ambani also said that he was proud of India’s achievements in space exploration. He said that Chandrayaan-3 was a “major milestone” in India’s journey to the moon. He said that the mission would help India to “master the technologies” needed to explore other planets.
Reliance Invested $150 Billion in Last 10 Years, More Than Any Other Corporate in India
Reliance Industries (RIL) Chairman Mukesh Ambani announced at the company’s 46th annual general meeting (AGM) on August 28 that RIL has cumulatively invested $150 billion in the last 10 years. This is more than any other corporate in India.
Ambani said that the investments have been made in a wide range of businesses, including energy, retail, and technology. He said that the investments have helped RIL to become a global leader in these sectors.
Reliance Industries (RIL) Chairman Mukesh Ambani Reviews Q1FY24 Performance
Mukesh Ambani mentions: “I am delighted to report yet another year of stellar all-round performance. Reliance’s consolidated revenues stood at Rs 9,74,864 crore. Reliance’s EBITDA for FY23 was Rs 1,53,920 crore, while the net profit was Rs 73,670 crore.”
Reliance Industries Board Recommends Appointment of Isha, Akash, and Anant Ambani as Non-Executive Directors
The Board of Directors of Reliance Industries Limited (RIL) has recommended to shareholders the appointment of Isha Ambani, Akash Ambani, and Anant Ambani as Non-Executive Directors of the company. The appointments are subject to the approval of shareholders at the company’s next annual general meeting.
Isha Ambani is currently the Director of Reliance Jio Infocomm Limited and Reliance Retail Ventures Limited. Akash Ambani is the Chairman of Reliance Jio Infocomm Limited and the Managing Director of Reliance Retail Ventures Limited. Anant Ambani is the Director of Reliance Jio Infocomm Limited and the Director of Reliance Retail Ventures Limited.
Categories: Trends
Source: vcmp.edu.vn