Reliance Industries Chairman Mukesh Ambani is scheduled 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 2:00 PM.
Analysts and investors are excited about the upside potential in RIL’s telecom and retail divisions and are eager to hear Ambani’s plans for the future.
Bloomberg News compared 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 environment and is likely to attract a lot of attention from domestic and international investors.
Here are some of the key things investors hope to hear from Ambani at the AGM:
- Details on timeline and size of Reliance Retail and Jio IPOs
- Updates on the company’s progress in other key areas, such as energy and petrochemicals
- Vision of the company’s future growth.
The AGM is sure to be a closely watched event, with investors looking for any clues about Ambani’s plans for the future of Reliance Industries.
Retail investors, mutual funds and insurance companies have increased their holdings in RIL since the last AGM. According to NSE data, 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 share 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
Chairman Mukesh Ambani kicks off the conference with the success of Chandrayaan-3. He mentions Prime Minister Narendra Modi’s Independence Day address in his address 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 Modi’s speech inspired him to “dream big” for RIL and India. He said he is committed to making RIL a global leader in energy, retail and technology.
Ambani also said he was proud of India’s achievements in space exploration. He said Chandrayaan-3 was a “big milestone” in India’s journey to the moon. He said the mission would help India “master the technologies” needed to explore other planets.
Reliance has invested $150 billion in the last 10 years, more than any other company 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 over the last 10 years. This is more than any other company in India.
Ambani said the investments were made in a wide range of businesses, including energy, retail and technology. He said the investments have helped RIL become a global leader in these sectors.
Reliance Industries (RIL) chairman Mukesh Ambani reviews Q1FY24 performance
Mukesh Ambani mentions, “I am pleased to report another year of stellar all-round results. Reliance’s consolidated revenues stood at Rs 9,74,864 crore. Reliance’s FY23 EBITDA stood at Rs 1,53,920 crore, while net profit stood at Rs 73,670 crore. . “
The board of Reliance Industries recommends the appointment of Isha, Akash and Anant Ambani as non-executive directors
The board of directors of Reliance Industries Limited (RIL) has recommended to the shareholders the appointment of Ish Ambani, Akash Ambani and Anant Ambani as non-executive directors of the company. Appointments are subject to shareholder approval at the company’s next annual 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 Managing Director of Reliance Retail Ventures Limited. Anant Ambani is the director of Reliance Jio Infocomm Limited and director of Reliance Retail Ventures Limited.
Jio users consume an average of 25GB of data per month, says Ambani
Reliance Industries chairman Mukesh Ambani said on August 28 that the average Jio user now consumes more than 25GB of data per month. This means a monthly data traffic of 1100 million GB, which represents a growth of 45% compared to the previous year.
Ambani said the rise in data consumption was driven by a number of factors, including the growing popularity of online streaming services, games and other data-intensive applications. He said Jio is committed to meeting the growing demand for data by investing in its network and expanding its reach.
Ambani’s comments come at a time when Jio is facing increasing competition from other telecom operators such as Airtel and Vodafone Idea. However, Jio remains the market leader in terms of data consumption. The company’s network is also the fastest in India, according to Ookla’s Speedtest Global Index.
Categories: Trends
Source: newstars.edu.vn