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.
Jio Users Consume an Average of 25 GB of Data per Month, Says Ambani
Reliance Industries Chairman Mukesh Ambani said on August 28 that the average Jio user now consumes over 25 GB of data per month. This translates to monthly data traffic of 1100 crore GBs, representing a 45% year-on-year growth.
Ambani said that the surge in data consumption is being driven by a number of factors, including the increasing popularity of online streaming services, gaming, and other data-intensive applications. He said that 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.
Jio Adding 5G Cells at Breakneck Speed: Mukesh Ambani
Mukesh Ambani says: “Reliance Jio was launched 7 years ago with an ambitious mission: to transform India into a Premier Digital Society. Jio has been main catalyst of New India’s spectacular digital transformation. Now our ambitions go beyond the shores of India.”
“We began 5G rollout last October. In 9 months, Jio 5G is already present in over 96% of the census towns. And we are on track to cover entire country by Dec ’23. This makes Jio 5G the fastest-ever 5G rollout anywhere in the world.”
“Today, nearly 85% of total 5G cells operational in India are in Jio’s network. At our current pace, we are adding one 5G cell to our network every 10 seconds, and we will have nearly 1 mn 5G cells operational by December.”
Jio Smart Home Services to Redefine Home Experience
Mukesh Ambani states: “Our extensive Jio Fiber service already serves 10+ mn customers, with thousands getting connected each month. With Jio AirFiber, we are expanding our addressable market to 200+ mn homes and other premises.”
Jio is launching a suite of smart home services. The services will allow users to control their homes remotely using their smartphones.
The Jio Smart Home services will include a range of devices, such as smart lights, smart locks, and smart thermostats. Users will be able to control these devices using the Jio Smart Home app.
Jio Bharat to Empower Small Businesses with UPI Integration and Affordable Value-Added Plans
Jio Bharat, a new feature phone from Reliance Jio, is set to empower small businesses with its UPI integration and affordable value-added plans.
UPI integration will allow small businesses to receive government support through schemes such as PM Kisan Samman Nidhi and Pradhan Mantri Jan Dhan Yojana. It will also make it easier for them to accept payments from customers.
Jio Bharat also comes with a range of affordable value-added plans that offer benefits such as unlimited calling, data, and SMS. These plans will help small businesses to save money on their communication costs.
Jio Announces True5G Developer Programme to Accelerate 5G Innovation in India
Jio is launching a developer programme for its True5G technology. The programme will provide developers with access to Jio’s 5G network, as well as to partner solutions.
Ambani said that the programme is aimed at accelerating 5G innovation in India.
Jio to Develop India-Specific AI Solutions, Build 2000 MW of AI-Ready Computing Capacity
Ambani in the AGM mentions that Jio Platforms is committed to developing India-specific AI models and AI-powered solutions across domains. He also said that Jio is committed to building up to 2000 MW of AI-ready computing capacity in India.
Ambani said that the global AI revolution is reshaping the world around us. He said that Jio Platforms wants to lead in this revolution by developing AI solutions that are tailored to the needs of India.
Ambani said that India has the scale, data, and talent to be a global leader in AI. He said that Jio Platforms is committed to building the AI-ready digital infrastructure that India needs to realize its potential in this field.
The development of India-specific AI solutions and the building of 2000 MW of AI-ready computing capacity are major initiatives by Jio Platforms. These initiatives will help to position India as a global leader in AI and will benefit businesses, governments, and individuals across the country.
Reliance Retail Valuation Soars as Marquee Investors Eye Stake
Reliance Retail’s valuation has almost doubled in less than three years, despite the intervening COVID-19 pandemic. This has led to interest from marquee investors, who are looking to acquire a stake in the company.
Reliance Retail Expands Footprint with Over 3,300 New Stores
Reliance Retail, the retail arm of Reliance Industries, opened over 3,300 new stores in the last year. This took the total number of stores to 18,040, covering 6.56 crore square feet. Two-thirds of the new stores are located in Tier II, III, and smaller towns. This is a testament to Reliance Retail’s commitment to making retail inclusive and accessible to all.
The company has also added 2.5 lakh employees to its rolls in the last year. This is a reflection of the company’s growth and its commitment to providing employment opportunities.
JioMart’s Launch on WhatsApp Drives 9X Growth in Consumers
Reliance Retail’s New Commerce business, which includes JioMart, grew phenomenally in the last year. The launch of JioMart on WhatsApp was a major driver of this growth, with 9X growth in JioMart customers on WhatsApp since its launch in 2022.
Jio Financial Services to Enter Insurance Industry, Potentially Partnering with Global Players
Jio Financial Services is planning to enter the insurance industry. He said that the company is open to partnering with global players in this space.
Ambani said that Jio Financial Services is committed to accelerating the replication of India’s dazzling growth story. He said that the company will do this by providing financial services to millions of Indians who are currently underserved.
In the payments space, Ambani said that Jio Financial Services will ensure ubiquitous offering for both consumers and merchants. He said that the company’s products will explore path-breaking features such as blockchain-based platforms and central bank digital currencies (CBDCs).
Jio Financial Services (JFS) to be Invaluable Addition to RIL Ecosystem, Says Mukesh Ambani
Mukesh Ambani mentions: “I’ve 3 reasons to be confident about JFS’s success. One, the digital-first architecture will give it an unmatched head start. Two, RIL has capitalised JFS with net worth of Rs 1,20,000 cr – one of world’s highest capitalised fin service co at inception.”
“Three, JFS is blessed with very strong board, led by Shri KV Kamath, a veteran and most respected banker.”
Categories: Trends
Source: HIS Education