The 48th Annual General Meeting (AGM) of Reliance Industries Ltd. has officially begun on Friday (August 29), with Chairman and Managing Director Mukesh Ambani addressing over 44 lakh shareholders.
In his opening remarks, Ambani struck an optimistic note despite global volatility: “Global uncertainty is rising, but also a golden age of abundance and affordability driven by tech lies ahead.”
Jio IPO back in spotlight
Ahead of the AGM, Reliance shares slipped nearly 2%, reflecting investor caution. The street is keenly awaiting updates on the long-awaited IPO of Jio Platforms, which Ambani first hinted at in 2019, alongside Reliance Retail’s public listing. The timelines, however, have been pushed back as the company has focused on consolidating and strengthening its digital and retail businesses.
Key announcements expected
Investors are closely tracking details on:
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Scaling of Reliance’s digital services, including 5G subscriber growth and broadband expansion.
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The company’s partnership with SpaceX for satellite broadband.
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Updates on the new energy business, including execution timelines, earnings potential, and its future contribution to Reliance’s overall financials.
The AGM comes at a critical time for Reliance, with markets eager to hear clarity on its digital-first strategy and progress towards long-promised public listings of its core consumer businesses.
