The 48th Annual General Meeting (AGM) of Reliance Industries Ltd. has officially commenced, with Chairman and Managing Director Mukesh Ambani beginning his address to shareholders on Friday (August 29).
Ahead of the AGM, shares of Reliance Industries slipped nearly 2% as the street remained cautious, awaiting clarity on several big-ticket announcements. Market participants are closely watching for updates on the long-awaited IPO timelines of Jio Platforms and Reliance Retail.
Mukesh Ambani had first hinted at a Jio IPO back in 2019, stating that both Jio and Reliance Retail would head towards public listings within five years. However, the timelines have been delayed as the company continues to consolidate and strengthen its businesses.
For this year’s AGM, investors are also looking for details on the scaling of Reliance’s digital services, including 5G subscriber growth, broadband expansion, and potential collaborations such as its partnership with SpaceX. Meanwhile, the company’s new energy business is also in sharp focus, with expectations around clarity on execution timelines, earnings potential, and its future contribution to Reliance’s overall financials.
Stay tuned for more live updates from the AGM.
