RIL 43rd AGM: Here are 5 things to watch out for

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26 Aug, 2025 12:21

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India’s most-valued private company Reliance Industries (RIL) will hold its 43rd Annual General Meeting on July 15. The oil-telecom-to-retail major recently crossed Rs 12 lakh crore in market capitalisation becoming the first listed Indian entity to achieve the feat. Reliance Industries share rallied over 12o percent from its March 23's low and was one of the key drivers of Nifty50's 44 percent rally from those levels. Also, it is the only company in the Nifty50 that doubled in value from March lows. Since its last AGM, the scrip has returned over 68 percent.

Follow our LIVE blog for the latest updates from RIL’s 43rd AGM

"Given the recent records, RIL's AGM improves the mood of its stock price and given the huge weight in the index, markets too are expected to remain on the higher side unless negative global cues spoil the party. This time it is expected that the AGM would garner maximum viewership given the slew of deals cracked for Jio Platforms," Jimeet Modi, Founder & CEO at SAMCO Securities & StockNote told Moneycontrol.

Also Read: Reliance to hold its first virtual AGM on July 15: Here's all you need to know

The Mukesh Ambani-owned company, being the only listed entity having a market cap of more than Rs 12 lakh crore, has successfully achieved its target - set in the last AGM - to become a net debt free well before its schedule of March 31, 2021, by selling more than 25 percent stake in Jio Platforms (to global marquee investors), rights issue of Rs 53,124 crore and stake sale to BP in the petro-retail joint venture.

With the Rs 1.18 lakh crore raised from Jio Platforms, the Rs 53,124 crore rights issue along with stake sale to BP in the petro-retail joint venture, the Mukesh Ambani Group company has become net debt-free well before its targeted date of March 31, 2021.

Here are five things that could be on RIL's agenda according to experts:

-- Update on Oil-to-Chemical division (O2C) deal with Saudi Aramco;
-- Overseas listing of Jio Platforms;
-- Value unlocking plans in fibre & tower infrastructure via InvITs funds;
-- Roadmap plan of Reliance Retail and JioMart;
-- Revival of petrochemicals business and oil-to-chemicals capital expenditure target.

"After successfully fulfilling the promise of becoming zero net debt company earlier-than-expected, Reliance Industries may now shift its focus on growing Retail business (JioMart) and overseas listing of Jio Platforms," Prashanth Tapse, AVP Research at Mehta Equities told Moneycontrol.

"Investors also expect finer announcements regarding its advanced talks to buy out stakes in Kishore Biyani's Future Group. If the same is announced, it would help RIL to expand its reach in the retail space across categories like fashion, general merchandise and groceries thus targeting to become India's number one Retail Company. The AGM will also focus on drafting roadmap of Reliance Retail – JioMart future as JioMart is at the heart of Reliance Industries' retail ambitions," he said.

On July 2, Reliance clarified that they are unable to comment on media speculation and rumours after The Economic Times reported, "Reliance Industries nears deal to acquire retail businesses of Future Group."

Apart from that, Prashanth Tapse feels Reliance would keep ita focus on asset monetisation to the proposed stake sale in its oil-to-chemical division (O2C) with Aramco which is expected to be the bigger trigger on cards and it will also look to announce value unlocking plans in fibre & tower infrastructure via InvITs funds.

Sumit Bilgaiyan, Founder of Equity99 said key aspects one should look out for in the AGM are: a) expected revival in the petrochemicals business, b) oil-to-chemicals (O2C) capital expenditure target, c) details and update about the Aramco deal and d) outlook on JioMart.

Despite lockdown in several countries to control the spread of COVID-19, Jio Platforms, the wholly-owned subsidiary of Reliance Industries, has raised Rs 1.18 lakh crore by selling over 25 percent stake to global marquee investors including Facebook, General Atlantic, KKR, Saudi's Public Investment Fund etc.

Also Read: Qualcomm-Jio deal: Here are five key things to know

Investors' strategy

Reliance's share price hit a record high of Rs 1,947 on July 13 ahead of its AGM and experts are of the view that investors should add the stock to their portfolio or keep accumulating on every dip.

Sumit Bilgaiyan believes investors should add the stock to their portfolio given- a) RIL has become the biggest conglomerate of India with a broad range of business, b) the main value of the company comes from Telecom and Retail business (not a pure petrochemical company anymore), c) the telecom business will continue to do well, the petrochemical segment is also improving (while retail business might take time to come back to normalcy), d) JioMart can be the next big trigger for the stock and e) the company has become net debt-free which makes the business more robust.

Prashanth Tapse also has a positive long-term view on Reliance Industries considering its focus on the digital and retail business which would drive the company going forward. "Retail business to be a key value driver for Reliance over the long run though we see there would be some impact on business in FY21 due to the COVID-9 outbreak."

Given that the stock has run up by more than 100 percent from its March lows, he feels upside could be limited in the short-term. Hence, he advises investors to use current short-term market volatility to accumulate the stock on bull case strategy and target price would be in the range of Rs 2,000-2050 per share for the short-term.

Click here for Moneycontrol’s full coverage of RIL’s 43rd AGM

Disclaimer: The views and investment tips expressed by investment expert on Moneycontrol.com are his own and not that of the website or its management. Moneycontrol.com advises users to check with certified experts before taking any investment decisions.

"Reliance Industries Ltd. is the sole beneficiary of Independent Media Trust which controls Network18 Media & Investments Ltd which publishes Moneycontrol."