Reliance AGM 2023 Highlights: Chairman Mukesh Ambani in the 46th AGM of RIL announced a slew of plans for the conglomerate with an aim to bolster India's growth in the global economy. In that regard, Ambani announced several digital, retail business plans including launch of Jio AirFiber next month, plans of entering Jio Financial Services in the insurance sector, pursue wind power, target battery giga factory by 2026, among others.
Meanwhile, shares of Reliance Industries closed 1.38 percent down at Rs 2,435.95 apiece on BSE amid RIL AGM announcements.
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Reliance AGM 2023: Top 10 takeaways from 46th AGM
Here are the major announcements from RIL AGM 2023:
1. Isha, Akash, Anant Ambani to join RIL board
2. Jio promises AI to everyone, everywhere
3. JFS to foray into insurance segment, with potential global partner
4. Jio True5G developer platform and True5G Lab announced
5. Jio AirFiber launch on September 19; pan-India Jio 5G by December
6. Jio Smart Home services to "redefine our homes"
7. Only Indian retailer in global top 100
8. Accelerating to achieve net carbon zero by 2035
9. Pursuing wind power, target battery gigafactory by 2026
10. On track to build solar, wind, battery, hydrogen & bio-energy platforms
Read more in detail here
Reliance AGM 2023: All you need to know about Jio Smart Home services
Reliance Jio hasintroduced Jio Smart Home services, which will provide many services for operating home appliances smoothly.Speaking at the AGM, Jio Chairman Akash Ambani said that "Jio Smart Home Services is poised to “redefine how we experience and manage our homes."Here's a step by step guide on how it works
Reliance AGM 2023: 'Next 10 years’ growth to far outstrip last 45 years'
RIL chairman Mukesh Ambani said the company's growth in the next 10 years will outstrip the growth it has seen in the past.
“I am supremely confident that the value that your company will create for all its stakeholders over the next decade will be multiple times greater than what it has generated over the past 45 years,” said Ambani.
Ambani said Reliance Industries has scrupulously adhered to certain cardinal principles of value creation, ensuring that it becomes more valuable with time. They include growth driven by the following - perpetual demand, superior customer experience and value, power of disruptive technologies and innovation, business discipline and global market potential.
Reliance AGM 2023 LIVE Updates: Energy business- top highlights
Reliance Industries Limited (RIL) has become India’s largest bio-energy producer based on the company’s indigenously developed technology, said Chairman Mukesh Ambani on August 28. Ambani said Reliance has commissioned the first commercial-scale compressed biogas (CBG) plant at Barabanki in Uttar Pradesh in 10 months.
Reliance AGM 2023 LIVE Updates: O2C business- top highlights
--Working On India’s First Carbon Fibre Unit In Hazira, Gujarat
--Aim To Be Top 3 Worldwide In Carbon Fibre
--O2C To Transition Into Sustainable, Integrated Chemicals Business
Reliance AGM 2023 LIVE Updates: Reliance Retail - top highlights
Reliance Retail will emerge as the most rapidly expanding business in terms of revenue and EBITDA as India grows from a $2,500 per-capita economy to a $10,000 per-capita economy, said Mukesh Ambani, Chairman of Reliance Industries, at the company's 46th Annual General meeting on August 28.
“Reliance Retail is the only Indian retailer in the global Top 100, and one of the fastest growing retailers in the world.” he added.
Reliance AGM 2023 LIVE Updates: Jio Financial - top highlights
Jio Financial Services will enter the insurance segment to offer life, general, and health insurance products, said Reliance Industries' chairman Mukesh Ambani on August 28.
Speaking at the annual general meeting, Ambani said, "Jio Financial Services will...offer simple, yet smart, life, general, and health insurance products through a seamless digital interface, potentially partnering with global players."
Reliance AGM 2023 LIVE Updates: Key highlights of Mukesh Ambani's announcements
-Jio Finance Services (JFS)To Foray into Insurance Segment, With Potential Global Partner
-Isha, Akash, Anant Ambani to join RIL board
-Jio Promises AI To Everyone, Everywhere
-Announce Jio True5G Developer Platform & True5G Lab
-Jio AirFiber To Launch on Sept 19; pan-India Jio 5G by Dec
-Jio Smart Home Services To Redefine Our Homes
-Only Indian Retailer In Global Top 100
-To Explore Blockchain-based Platforms And CBDC
-Accelerating To Achieve Net Carbon Zero By 2035
-To Pursue Wind Power, Target Battery Giga Factory By 2026
-On Track To Build Solar, Wind, Battery, Hydrogen & Bio-energy Platforms
Reliance AGM 2023 LIVE Updates: Welcoming Isha, Anant and Akash on Board, Mukesh Ambani ends speech
Seeking blessings of Lord Krishna, Mukesh Amabni ends his speech on 46th AGM of Reliance Industries
Reliance AGM 2023 LIVE Updates: Mukesh Ambani enlists three reponsibilities as Chairman and MD of RIL
--First, I shall groom and empower all the Next-Gen leaders at Reliance and prepare them for the challenges and opportunities of the future.
--Second, I shall especially mentor Akash, Isha and Anant so that they can provide collective leadership and dependably take Reliance to greater heights of growth and value in the decades ahead.
--Third, together with the Board and all my long-time colleagues, I shall further enrich Reliance’s unique Institutional Culture, which has sustained your Company’s perpetual and exponential growth.
Reliance AGM 2023 LIVE Updates: Mukesh Ambani to remain Chairman and MD of RIL for next 5 years
'I shall continue to perform my duties and responsibilities as Chairman and Managing Director for five more years, with greater vigour,' says Mukesh Ambani
Reliance AGM 2023 LIVE Updates: Mukesh Ambani welcomes Isha, Akash and Anant to the RIL Board
In a regulatory filing, the company noted that their appointments were given the nod by the board of directors in the meeting held earlier in the day, and their joining would come into effect following the approval from the shareholders, it added.
Reliance AGM 2023 LIVE Updates: Mukesh Ambani highlights cardinal principles of value creation
Reliance has scrupulously adhered to certain cardinal principles of value creation. These have ensured that your company becomes more valuable, year after year, decade after decade : Mukesh Ambani
Here is what Mukesh Ambani said:
--First, Growth driven by perpetual demand: India is a supply-constrained market with the world’s largest population. Every item of consumption on per capita basis is still very low, compared to China, and substantially lower than developed markets like the EU and US...This choice has led us to build businesses of global size and scale. Each of Reliance’s three growth engines ─ our O2C business, our Retail business and Jio’s Digital Services business ─ meets this value-creation criterion. And so also will our newest and fourth growth engine ─ Jio Financial Services.
--Second, Growth driven by superior customer experience and value: Reliance has always believed that our businesses can grow only by winning the trust of customers and creating value for them on a consistent basis. This has made us obsessed with offering them products and services of highest quality and value, which leads to continuous revenue growth.
---Third, Growth driven by the power of disruptive technologies and innovation: Reliance has always had abiding faith in the power of best-in-class technologies and innovation to achieve ever higher levels of productivity and efficiency, while creating large-scale employment.
--Fourth, Growth driven by business discipline: Reliance has always practised the best norms of business discipline including financial and operational discipline. We have a laser-sharp focus on prudent capital allocation and financial management. This is evident from the fact that your company has enjoyed AAA rating for more than 33 years.
--Fifth, Growth driven by global market potential: Now that each of Reliance’s businesses has become a national champion in the domestic market, we are in a position to leverage our strengths and take our products, services and technologies and project execution capabilities to global markets without substantial new investments.
These five commitments will translate into a new and virtuous multi-decade Value Creation Cycle defined by faster growth, higher revenues, better margins and increased EBITDA. This will significantly enhance the earnings multiples of each of Reliance’s businesses.
Reliance AGM 2023 LIVE Updates: Bill Gates on Gates Foundation collaboration with Reliance Foundation
With Bill & Melinda Gates Foundation, empowering 1 million women entrepreneurs. Education & sports has so far reached out to 22 million youngsters, says Nita Ambani at the 46th AGM of Reliance Industries
I am very impressed not only by India's innovation in science and technology, but also on the focus to deliver those innovations to those who need the most: Bill Gates
India has a proven track record of manufacturing high-quality, affordable drugs and vaccines for the country and the world. Through the foundation’s work with Reliance, we aim to support innovation and implementation at scale to develop drugs and point-of-care diagnostics. We’ll also continue to work with communities to support the government’s efforts to eliminate infectious diseases: Bill Gates
Reliance AGM 2023 LIVE Updates: RIL shares close 1.38% lower
Reliance Industries closed at Rs 2,436.95 on the NSE, lower by 1.27 percent amid RIL AGM announcements. Trading volumes stood at 6.28 million shares, in-line with 20-day average volume.
Reliance AGM 2023 LIVE Updates: What women cannot do, it cannot be done, says Nita Ambani
We are discovering women-led businesses. With this we launch the 'Women Connect Challenge' India round 2 in partnership with US: Nita Ambani
Reliance AGM LIVE Updates: Welcomed over 20 lakh visitors, says Nita Ambani on NMACC
Since the opening of NMACC, we have welcomed over 20 lakh visitors. Will support 50,000 students through Reliance foundation over next 10 yrs, says Nita Ambani
Reliance AGM LIVE Updates: Mukesh Ambani on CBG Plant targets
Have commissioned first commercial scale CBG Plant at Barabanki in UP in 10 months. Our target is to establish 100 CBG plants in the next 5 years: Mukesh Ambani
Reliance AGM LIVE Updates: Progressing well to deploy Rs 75,000 cr to build new energy manufacturing ecosystem.
Progressing well to deploy Rs 75,000 cr to build new energy manufacturing ecosystem. Uniquely positioned to offer a practical solution to serious ‘Energy Trilemma’ India faces, says Mukesh Ambani.
Our target is to establish 100 Compressed Bio Gas (CBG) plants in the next five years, consuming 5.5 million tonnes of agro residue and organic waste, thereby mitigating nearly 2 million tons of carbon emissions and producing 2.5 million tons of organic manual and this will result in a reduction of about point 0.7 million tons of imported LNG: Mukesh Ambani
RIL AGM 2023 updates
We will further leverage our engineering and construction capabilities along with our giga scale manufacturing ecosystem to accelerate an enable installation of at least 100 gigawatts of renewable energy generation: Mukesh Ambani
Reliance AGM 2023 LIVE Updates: Accelerating to achieve net carbon zero by 2035, says Ambani
We have embarked transitioning O2C business into a sustainable and green business. The key pillars of this transition are – One, we are accelerating our journey to achieve Net Zero by 2035 through renewables and bioenergy: Mukesh Ambani
Reliance AGM LIVE Updates: Mukesh Ambani on O2C business
With our valued partner BP, we have revived gas production from the KG-D6 block from near zero a few years back to about 20 million cubic meters per day in the financial year 2022-23.
We are well on our way to enhance gas production to 30 million standard cubic meters per day, which will be 30% of India's gas production, and 15% of its current gas demand. At a time when global energy supplies and prices are witnessing unprecedented volatility and uncertainty, this gas is a major source of clean energy saving up to $7 billion per annum imports for our country.
Reliance AGM LIVE Updates: Just like Jio and Retail, JFS will prove an invaluable addition to RIL ecosystem, says Mukesh Ambani
--I’ve 3 reasons to be confident about JFS's success. One, the digital-first architecture will give it an unmatched head start: Mukesh Ambani
--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: Mukesh Ambani
--Three, JFS is blessed with very strong board, led by Shri KV Kamath, a veteran and most respected banker: Mukesh Ambani
Reliance AGM 2023 LIVE Updates: Jio Financial Services to enter insurance industry, potentially partnering with global players
Jio Financial Services to accelerate replication of India’s dazzling growth story, says Ambani
In payments, JFS will ensure ubiquitous offering for both consumers and merchants, further driving digital adoption. JFS products will explore path-breaking features such as blockchain based platforms and CBDC: Ambani
Reliance AGM 2023 LIVE Updates: Launch of Jiomart on WhatsApp saw 9X growth in consumers last year, says Isha Ambani
New Commerce business grew phenomenally on back of our omni-channel capabilities. The launch of JioMart on WhatsApp has been a phenomenal success with 9X growth of JioMart customers on WhatsApp since launch in 2022: Isha Ambani
JioMart on-boarded 25,000+ artisans, weavers and micro-entrepreneurs. 1.6 lakh products of artisans from 150+ cities are available on our platforms. We work with 2500+ handloom weavers, covering 50 craft clusters: Isha Ambani
Reliance AGM 2023 LIVE Updates: Reliance Retail opened over 3,300 stores, has 2.5 lakh on-roll employees
We opened 3,300+ new stores last year, taking the total to 18,040, covering 6.56 cr sq.ft. Two-thirds of these stores are in Tier II, III and smaller towns, which is a testament to commitment of making retail inclusive: Isha Ambani, Director, Reliance Retail
RIL AGM 2023 LIVE: Several marquee investors have shown interest in Reliance Retail, says Ambani
In less than 3 years, the valuation of Reliance Retail has almost doubled, notwithstanding the intervening Covid-19 pandemic. Based on this valuation, Reliance Retail would have ranked among Top 4 companies in India and Top 10 retailers globally: Mukesh Ambani
Reliance AGM 2023 LIVE Updates: Jio to lead India-specific AI solutions, says Mukesh Ambani
A global AI revolution is reshaping the world around us. Jio Platforms wants to lead in developing India-specific AI models and AI-powered solutions across domains, thereby delivering benefit of AI to Indians, businesses and govt: Mukesh Ambani
India has scale. India has data. India has talent. But we also need AI-ready digital infrastructure that can handle AI's immense computational demands. We stand committed to create up to 2000 MW of AI-ready computing capacity: Mukesh Ambani
Reliance AGM 2023 LIVE Updates: Jio True5G developer programme announced
The platform will offer access to partner solutions as well, says Mukesh Ambani.
Ambani also announced Jio True5G lab.
Reliance AGM 2023 LIVE Updates: Jio Bharat supports UPI payments
Jio Bharat will empower small businesses. Its UPI integration will help in receiving government support immensely.
It also comes with affordable value-added plans
Reliance AGM 2023: Jio Chairman Akash Ambani announces Jio Smart Home services
Jio Smart Home services is poised to redefine how we experience and manage our homes.
'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’
RIL AGM 2023: Mukesh Ambani says Jio adding one 5G cell to our network every 10 second
'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.
Reliance AGM 2023 updates: Per-user data consumption on Jio’s network has surged, says Ambani
Jio has seen a surge in cinsumption with the average user now consuming over 25 GB every month. This translates to monthly data traffic of 1100 crore GBs, representing a 45% year-on-year growth: Mukesh Ambani
Reliance AGM 2023 LIVE Updates: Isha, Akash and Anant Ambani appointed to RIL board
The Board of Directors have considered and recommended to the shareholders appointment of Isha M. Ambani, Akash M. Ambani and Anant M. Ambani as Non-Executive Directors of the company with effect from the date of assumption of office after approval from shareholders, RIL said in a regulatory filing.
Mweanwhile, Nita Ambani has stepped down from the board.
Reliance AGM 2023 LIVE Updates: Mukesh Ambani reviews RIL's Q1FY24 performance
'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 AGM 2023: Reliance has cumulatively invested $150 billion in last 10 years
Mukesh Ambani in his AGM speech said that Reliance Industries has cumulatively invested $150 billion in last 10 years, which is bigger than any corporate in the country.
Reliance AGM 2023 Updates: Mukesh Ambani quotes Prime Minister Modi's address on Aug 15, cites success of Chandrayaan-3 in his address to shareholders
Reliance AGM 2023 LIVE Updates: Chairman Mukesh Ambani begins 46th RIL annual general meeting (AGM)
RIL AGM 2023 Live Updates: Where to watch?
-- Reliance Industries'46th AGM can we watched online on Jio Meet platform here -https://jiomeet.jio.com/meetingportal/rilagm/joinmeeting.
-- You can login up to 30 minutes earlier than the scheduled 2 pm AGM.
Reliance AGM 2023 Live Updates: Recent big announcements
-- Reliance Retail: QIA will invest Rs 8,278 crore in RRVL.
-- Reliance Retail also launched fashion retail format, Yousta, with the first store inaugurated in Hyderabad.
-- Reliance partners with Oberoi Hotels to develop three luxury and hospitality projects in India and the UK.
-- Jio Studios won big at the 69th National Awards, 'Mimi' actors Kriti Sanon and Pankaj Tripathi won Best Actress and Best Supporting Actor respectively, while Marathi movie 'Godavari' director Nikhil Mahajan won Best Director.
Read more here
Reliance AGM 2023 Live Updates: Jio Financial Services in focus
The removal of Jio Financial Services from the Sensex and other BSE indices will be postponed by another three days as the stock hit the lower circuit on both August 24 and 25. Jio Financial will now be removed from all the S&P BSE Indices effective prior to the open of trading on September 1. Earlier Jio Financial was slated to be dropped from Nifty 50 and Sensex on August 24, which was deferred to August 29 as the stock kept hitting the lower circuit. Meanwhile, Motilal Oswal Mutual Fund picked 3.72 crore shares or 0.58% stake in Jio Financial, via open market transactions at an average price of Rs 202.8 per share.
RIL AGM 2023 Live Updates: Reliance Industries Share Update
Sensex above 65,000 pts, Nifty around 19,350. The Sensex was up 244.41 points or 0.38 percent at 65,130.92, and the Nifty was up 75.20 points or 0.39 percent at 19,341. About 1866 shares advanced, 1328 shares declined, and 144 shares unchanged.
Reliance Industries has gained since market open.
Reliance AGM 2023 Live Updates: Stake sale, IPO plans in focus for Mukesh Ambani’s annual speech
This year, investors are keen to find out more about the newly listed Jio Financial Services Ltd., as well as Reliance’s fresh investments into renewable energy and the rollout of its 5G network.... Read More
Reliance AGM 2023 Live Updates: Key Insights - Renewable Energy
RIL Chairman Mukesh Ambani has announced plans to produce the world’s cheapest green hydrogen. There will be eyes peeled for updates on this development as Reliance aggressively pursues a target to produce it at $1 per kilogram by the end of this decade.
Reliance AGM 2023 Live Updates: Key Insights - Reliance Jio Infocomm IPO
Billionaire Mukesh Ambani has earlier hinted about an IPO for Reliance Jio. Besdies the IPO, news on the company's 5G expenditure will be closely watched as comparible firms failed to pull revenues, Bloomberg reported.“We also expect updates around recently launched JioBharat phone and JioBook laptop,” BoFA Securities analysts wrote. It is expecting a partnership with Netflix with focus on “on prepaid bundled packs and improving content at JioCinema/Viacom18”.
RIL AGM 2023 Live Updates: (MC PRO) Options Trade | A non-directional options strategy in Reliance Industries
Reliance Industries is expected to remain sideways within our range. An Iron Condor trade to capitalise.... Read More
Reliance AGM 2023 Live Updates: Ups & downs keep investors keen
The combined market valuation of three of the top-10 most valued firms eroded by Rs 82,082.91 crore last week, with Reliance Industries taking the biggest hit. The market valuation of Reliance Industries fell by Rs 58,690.9 crore to Rs 16,71,073.78 crore. However, continued to rule the top-10 most valued firms chart.
Notably, while Reliance Industries rose over 0.5% ahead of its annual general meeting. The oil-to-telecom conglomerate had lost 3.46% last week. See details
