Home» News» Business» RIL AGM 2021: 5G Roll Out, Retail Expansion and Other Key Announcements to Watch Out For
2-MIN READ

RIL AGM 2021: 5G Roll Out, Retail Expansion and Other Key Announcements to Watch Out For

RIL AGM 2021: 5G Roll Out, Retail Expansion and Other Key Announcements to Watch Out For

RIL AGM 2021: Like every year, there is going to be a host of announcements across its telecom, retail and oil to chemical businesses

Reliance Industries will be conducting its 44th annual general meeting (AGM) on Thursday. Like every year, there is going to be a host of announcements across its telecom, retail and oil to chemical businesses. From shareholders to investors to consumers, all will be keenly following when Mukesh Amabani, chairman of Reliance Industries will unveil its future plans at 2 pm on June 24.

In the view of coronavirus pandemic, Reliance Industries had shifted to virtual annual shareholders’ meet last year. The company will hold 44th AGM through video conferencing and other audio visual means (OAVM).

Follow out LIVE blog: Reliance Industries AGM Updates 

There has been reports that Yasir Al-Rumayyan, chairman of Saudi Aramco and governor of the Kingdom’s wealth fund Public Investment Fund may be inducted on the board of Reliance Industries Ltd. Any such steps would be positive for the company, according to JPMorgan.

RELATED NEWS

In August 2019, Mukesh Ambani had announced talks for the sale of a 20 per cent stake in the oil-to-chemicals business which comprises its twin oil refineries at Jamnagar in Gujarat and petrochemical assets, to the world’s largest oil exporter. “There is also expectation of some update on Saudi Aramco deal," brokerage HSBC Global Research said in a report.

Reliance Industries may share more details about much-awaited Jio 5G smartphone on June 24. During the last AGM, Reliance Industries chairman said, “Jio has developed a complete 5G solution from scratch that will enable us to launch a world-class 5G service in India.”

The company is also expected to launch a new affordable laptop — Jio Book laptop during the event. “RIL may introduce a new affordable laptop to tap into the massive demand for work from home machines," HSBC Global Research mentioned in the report.

“Some talk on progress of 5G launch and launch of handset in collaboration with Google may be made. Progress on Saudi Aramco’s participation in O2C business may also be mentioned about," said Deepak Jasani, head of retail research at HDFC Securities.

The retail platform including e-commerce will be the next growth engine for Reliance Industries Ltd, Goldman Sachs said in a report. “We believe retail business (including e-commerce) is set to be the next growth engine for RIL, with potential for retail EBITDA to grow 10x over the next 10 years," the brokerage said. Amid the Covid-19 outbreak in the country, RIL has focused on building strong digital capabilities and the scale-up in omnichannel offering is driving sizeable market share wins.

“In retail business, a statement is expected on the operations and expansion plan of JioMart, which has a presence in 200 cities, along with AJIO—its fashion and lifestyle platform and a road map on the retail ecosystem through value-creating partnerships with producers, brands and merchants to leverage its large customer base," Deepak Jasani added.

Disclaimer:Network18 and TV18 – the companies that operate news18.com – are controlled by Independent Media Trust, of which Reliance Industries is the sole beneficiary.

Read all the Latest News, Breaking News and Coronavirus News here

first published:June 24, 2021, 12:01 IST