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<keyword id="19938772" type="General" weightage="20" keywordseo="Reliance-Industries-Ltd" source="keywords" meta.keywordsubtype="org" meta.entityname="Reliance Industries Ltd" meta.hostid="261" meta.entityid="Reliance Industries Ltd">Reliance Industries Ltd</keyword> (<keyword id="20002939" type="General" weightage="20" keywordseo="RIL" source="keywords">RIL</keyword>) is set to hold its much-anticipated 47th Annual General Meeting (AGM) today, August 29, 2024. The AGM, which will be held virtually, is expected to feature some key announcements that could be of great interest to investors as well as shareholders. The meeting will start at 2:00 p.m. IST and will be live-streamed across various digital platforms. Read on to know all about <keyword id="22949345" type="General" weightage="100" keywordseo="Reliance-AGM" source="keywords">Reliance AGM</keyword> and what can be expected from it this year. <h2>What is Reliance AGM?</h2> The Reliance Annual General Meeting (AGM) is an important event where Reliance Industries Ltd (RIL) presents its financial performance, future strategies, and key developments to shareholders and the public. Held annually, this meeting is led by RIL Chairman <keyword id="19916798" type="General" weightage="20" keywordseo="Mukesh-Ambani" source="keywords">Mukesh Ambani</keyword> and serves as a platform for major announcements, including potential IPOs, business expansions, and technological advancements. The AGM attracts widespread attention from investors, analysts, and industry watchers, as it provides insights into the company’s direction and its impact on various sectors. <h2>Where to watch livestream</h2> The AGM will begin at 2:00 p.m. IST and will be conducted virtually, allowing millions of shareholders and investors to join from anywhere. The event will be live-streamed across various digital platforms, including RIL's social media pages on YouTube, X (formerly Twitter), and Facebook. Shareholders can join the live broadcast using the following link: <a href="https://jiomeet.jio.com/rilagm" target="_new">https://jiomeet.jio.com/rilagm</a>. <h2>What to expect from Reliance AGM 2024</h2> IPO announcements: One of the most closely watched aspects of the AGM is the potential announcement of IPO timelines for Reliance <keyword id="19906886" type="General" weightage="20" keywordseo="Jio" source="keywords">Jio</keyword> and Reliance Retail. The possibility of these two giants going public has been a topic of discussion since 2019, and with the five-year mark approaching, investors are keen to hear concrete plans. Energy projects: Reliance’s foray into the green energy sector has been a key focus in recent years. The AGM is expected to provide updates on the progress of the company’s ambitious new energy projects, particularly the development of a large green energy complex in Jamnagar. This complex, featuring giga factories for solar PV, energy storage, and other technologies, is part of Reliance’s broader strategy to transition from traditional energy sources to more sustainable options. Investors will be looking for detailed timelines and potential earnings projections from these ventures. 5G Rollout: Reliance Jio’s 5G rollout is another critical area of interest. The company has already made significant strides in expanding its 5G network across India, and the AGM is expected to shed light on how RIL plans to monetize this infrastructure. This could include potential partnerships, new service offerings like the JioPhone 5G, and strategies to increase subscriber growth. The success of Jio’s 5G rollout will be crucial in maintaining its competitive edge in the rapidly evolving telecom market. AI focus: In addition to its core business areas, Reliance is also expected to make announcements related to artificial intelligence (AI). With global tech giants increasingly focusing on AI, RIL is likely to reveal new AI initiatives tailored to the Indian market. This could include expansions to Hanuman AI, a generative AI tool developed with leading Indian institutions, which supports multiple Indian languages. Succession planning: Another topic of interest is Reliance’s succession plan. With Mukesh Ambani having previously outlined a blueprint for leadership transitions within the company, shareholders will be looking for updates on how these plans are being implemented. The AGM may provide further clarity on the roles of Ambani’s children—Akash, Isha, and Anant—who have been earmarked to lead the telecom, retail, and energy segments, respectively.

Reliance AGM 2024 at 2 pm today: What it is, where to watch, and what to expect

<ul><li><keyword id="58448" type="General" weightage="20" keywordseo="reliance-retail" source="Orion">Reliance Retail</keyword> reported a ₹2 lakh crore turnover and EBITDA of ₹12,000 crore in FY22.</li><li>With the launch of the FMCG segment, Reliance Retail will compete with giants Hindustan Unilever, Nestle, Dabur, Britannia.</li><li>RIL Chairman <keyword id="3820" type="General" weightage="20" keywordseo="mukesh-ambani" source="Orion">Mukesh Ambani</keyword> announced a succession plan for the group. <keyword id="6361416" type="General" weightage="20" keywordseo="akash-ambani" source="Orion">Akash Ambani</keyword> leads <a href="https://www.businessinsider.in/business/telecom/news/jio-set-to-launch-true-5g-services-this-2022-diwali/articleshow/93854727.cms">Reliance Jio</a>, <a href="https://www.businessinsider.in/business/corporates/news/akash-isha-and-anant-are-the-future-of-reliance-industries/articleshow/93854579.cms">Isha Ambani</a> heads retail business &amp; <keyword id="6374020" type="General" weightage="20" keywordseo="anant-ambani" source="Orion">Anant Ambani</keyword> heads the new energy business.</li></ul>Reliance Industries’ (RIL) retail arm will launch a fast-moving consumer goods (FMCG) business this year under the leadership of daughter <keyword id="617730" type="General" weightage="20" keywordseo="isha-ambani" source="Orion">Isha Ambani</keyword>. At RIL’s 45th annual general meeting, Isha Ambani said that the objective of the FMCG business was to develop and deliver high quality, affordable products which solves the daily needs of every Indian. "I am excited to announce that this year, we will launch our fast-moving consumer goods business. The objective of this business is to develop and deliver products that solve every Indian's daily needs with high quality products at affordable pricing," Isha Ambani said. With the launch of the FMCG segment, Reliance Retail will be competing with giants like Hindustan Unilever, Nestle, Dabur and Britannia. “Reliance Retail’s purpose is to serve millions of customers everyday by providing them with unlimited choice, outstanding value propositions, superior quality and unmatched shopping and delivery experience through our physical stores, merchant partner stores, digital and omni commerce platforms,” said RIL Chairman Mukesh Ambani at the AGM. Commenting on the growth of the retail segment, Isha Ambani mentioned that they have strengthened owned-brands through the launch of 600 new stock keeping units (SKUs) during the year across categories, including TV, home and electronic appliances. On the grocery segment front, Reliance Retail had launched Freshpik, a gourmet store, in 2021 and also rolled out 7-Eleven for on-the-go customers. Isha Ambani said that Reliance Retail is looking to partner and integrate with all brands, small producers and MSMEs to enlarge its portfolio of products. This year, the retail segment served over 200 million registered customers, which is equivalent to the entire population of the UK, France and Italy, she said. The digital platforms deliver an average daily order of 6 lakh, an increase of 2.5 times over last year. “Reliance Retail’s own brands contribute to over 65% of overall revenues,” Isha said. In addition, the retail segment will also market products made by tribals and other marginalized communities across the country, she added. In the last fiscal year, Reliance Retail gave employment to 1.5 lakh employees. “We built an extensive supply chain network with modular design and best-in-class automation. We generated employment for more than 1.50 lakh during the year, taking our employee base to over 3.60 lakh," Isha Ambani said. Mukesh Ambani congratulated Isha Ambani and the entire team of retail on achieving ₹2 lakh crore turnover and EBITDA of ₹12,000 crore. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/tech/enterprise/news/jio-airfiber-to-offer-cloud-pc-services-soon/articleshow/93857295.cms">Reliance Jio to offer cloud PC services soon – Here’s everything you need to know</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/corporates/news/akash-isha-and-anant-are-the-future-of-reliance-industries/articleshow/93854579.cms">Reliance of the future – in the hands of Akash, Isha and Anant</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/telecom/news/jio-set-to-launch-true-5g-services-this-2022-diwali/articleshow/93854727.cms">Jio set to launch True 5G services across major Indian cities this Diwali</a>

Reliance Retail to foray into FMCG business this year led by Isha Ambani

Reliance Industries, Tata Motors, Adani Ports and other stocks to watch out for on June 24

<ul><li><keyword id="6484187" type="General" weightage="20" keywordseo="ril" source="Orion">RIL</keyword> is planning the establishment of a fully-integrated, automated, gigawatt-scale electrolyser manufacturing facility to facilitate extensive green hydrogen production. </li><li>The primary focus is directed towards establishing an all-encompassing solar PV manufacturing ecosystem which will effectively convert sand into solar PV modules. </li><li>The company is making substantial headway in the utilisation of its committed capital to establish a new energy manufacturing ecosystem. </li></ul>Reliance has been betting big on its new energy business. The company, a week back in its annual report, doubled its investment plan from ₹75,000 crore in 2020 to further scale up the manufacturing ecosystem. In the 46th AGM of <keyword id="6355199" type="General" weightage="20" keywordseo="reliance-industries" source="Orion">Reliance Industries</keyword> Limited (RIL) on Monday, <keyword id="3820" type="General" weightage="20" keywordseo="mukesh-ambani" source="Orion">Mukesh Ambani</keyword>, chairman of RIL, reiterated that the conglomerate's energy business will be net carbon zero by 2035 and spelt out some key plans regarding solar and green hydrogen initiatives. In the last AGM, Ambani had said that the focus was on finalising two essential elements crucial to delivering competitively priced green hydrogen and its derivatives: the cost of generating renewable power, and the installed expenses of electrolysers for giga-scale deployment. “Our solar and wind energy storage integrated manufacturing ecosystem will deliver the most cost-efficient renewable power. I can also confidently say now that we have a roadmap towards achieving our targeted cost of electrolysers, and in turn, green hydrogen,” said Ambani. <cmsannotation type="cmsannotation" annotationid="Gigawatt scale electrolyser manufacturing facility to facilitate green hydrogen production" comment="subhead" text="Gigawatt scale electrolyser manufacturing facility to facilitate green hydrogen production">Gigawatt scale electrolyser manufacturing facility to facilitate green hydrogen production</cmsannotation> Ambani said that the company is planning the establishment of a fully-integrated, automated, gigawatt-scale electrolyzer manufacturing facility. This strategic move will facilitate extensive green hydrogen production at Jamnagar, allowing for a gradual shift in their captive needs. He also said that the company is making substantial headway in the utilisation of its committed capital to establish a new energy manufacturing ecosystem. This strategic move will facilitate the acceleration of large-scale production for continuous power supply and the substantial manufacturing of green hydrogen to support eco-friendly chemical production as well as environmentally conscious mobility solutions. <cmsannotation type="cmsannotation" annotationid="Setting up world’s largest and technologically advanced solar giga factory" comment="subhead" text="Setting up world’s largest and technologically advanced solar giga factory">Setting up world’s largest and technologically advanced solar giga factory</cmsannotation> Ambani further said that the company maintains its commitment to the rapid implementation of the Dhirubhai Ambani <keyword id="60895" type="General" weightage="20" keywordseo="green-energy" source="Orion">Green Energy</keyword> Giga Manufacturing Complex in Jamnagar. The primary focus is directed towards establishing an all-encompassing Solar PV manufacturing ecosystem as the foremost objective which will give rise to one of the world's largest, technologically advanced, versatile, and economically competitive solar giga factories, effectively converting sand into solar PV modules. The solar giga factory will encompass the manufacturing of PV modules, cells, wafers and ingots, polysilicon, and glass, all consolidated at a single Jamnagar location. The target is to progressively operationalise the factory in phases, with the final phase anticipated to conclude by the end of 2025. The incorporation of cutting-edge Heterojunction technology is slated for the manufacturing process, resulting in the creation of highly efficient solar PV cells and modules. Ambani further said that the vital integration of energy storage with both wind and solar power generation will play a crucial role in ensuring continuous, grid-connected electricity supply around the clock.

Reliance's energy business will be net carbon zero by 2035: Ambani

Reliance Industries, Divis Labs, Bajaj Finance, Tata Motors and other stocks to watch out for on June 10

<ul><li><keyword id="152170" type="COMPANY" weightage="20" keywordseo="Saudi-Aramco">Saudi Aramco</keyword>’s chairperson Yasir al-Rumayyan’s appointment to the <keyword id="10926" type="CITY" weightage="20" keywordseo="Reliance">Reliance</keyword>’s board</li><li>The strategic partnership with Saudi Aramco is a part of Reliance agenda to expand its oil-to-chemical business</li><li>Reliance is developing a Dhirubhai Ambani Green Energy Giga Complex to create solar energy</li></ul>Mukesh Ambani-led Reliance Industries officially announced the strategic deal with Saudi Aramco, at its 44th annual general meeting (AGM) held today at 2 p.m. The strategic partnership with oil major Saudi Aramco is a part of the company’s vision of achieving accelerated growth in its oil-to-chemical (O2C) business, Reliance’s Chairperson and Managing Director Ambani announced today. He further added that the partnership is expected to be “formalised in an expeditious manner during this year.” "We operationalised the JV [joint venture] with BP [of UK] in fuel retailing, using technology and innovation to deliver new customer value. The demand and margin environment for petrochemicals had recovered to pre-COVID levels by March. I am confident that our O2C [oil-to-chemicals] business will benefit from the strong global growth environment,” Ambani. Saudi Aramco’s chairperson Yasir al-Rumayyan’s appointment to the Reliance’s board is seen as another positive sign for this deal initially announced in 2019. “He is one of the most renowned names in energy finance and technology globally. I am sure that we will immensely benefit from his rich experience with one of the world's largest companies, and also one of the largest sovereign wealth funds in the world,” Ambani said. Here are some of the highlights from Reliance Industries’ AGM <ul><li><keyword id="6484187" type="COMPANY" weightage="20" keywordseo="ril">RIL</keyword> to invest over ₹60,000 crore in new energy business: Ambani, at the 44th AGM, also specified Reliance Industries’ mega plans for green energy this year with four new projects -- integrated solar photovoltaic module factory, advanced storage battery factory, electrolyser factory, fuel cell factory. It has also established a Reliance New Energy Council. The company is working on its first integrated Solar Photovoltaic Gigafactory that will create solar energy. It targets to achieve costs that are lowest in the world to ensure affordability of our solar modules. Besides this, Reliance has started work on developing the Dhirubhai Ambani Green Energy Giga Complex on 5,000 acres in Jamnagar in Gujarat. “It will be amongst the largest such integrated renewable energy manufacturing facilities in the world,” Ambani said.</li></ul><ul><li>Reliance looks to boost its E&amp;P business: “In our E&amp;P [exploration and production] business, BP and Reliance commenced production in the KGD6 basin. Our JV brought two of our three toughest deep water gas projects to production. This has been accomplished in record time and set a new global benchmark for capital costs… This will establish Reliance again as one of the largest domestic producers of gas in India, meeting 20 percent of India's gas demand. E&amp;P will again be a source of significant value and sustained earnings growth over the next decade,' Ambani said.</li></ul><ul><li>Google and Reliance have announced a new 5G partnership today at the AGM: “As a part of these collaborations, Reliance will also shift its core retail businesses to Google cloud infrastructure. They will be able to take advantage of Google’s artificial intelligence (AI) and machine learning (ML), e-commerce and demand forecasting offerings. Harnessing the quality and performance of Google Cloud will enable these businesses to scale up as needed to respond to the customer demand. Empowering businesses as they embark on their digital journeys, is a key part of our mission in India. I am excited for the innovation this partnership will help unleash.”</li></ul><ul><li><keyword id="2003276" type="PERSON" weightage="20" keywordseo="Jio">Jio</keyword>Phone Next, a 4G smartphone developed by Jio and Google, will be available in India from September 10. “JioPhone Next is a fully featured smartphone supporting the entire suite of applications from both Google and Jio,” Ambani added.</li></ul>Here is a full list of highlights from <keyword id="3820" type="PERSON" weightage="20" keywordseo="Mukesh-Ambani">Mukesh Ambani</keyword>’s virtual address at Reliance Industries’ AGM: <ul><li>“Jio became the first operation, outside of China, to achieve 400 million subscribers,” said Ambani.</li><li>Reliance Industries conducted 6.8%, or ₹1,45,143 crore, of India’s total merchandise export across 107 countries.</li><li>The company paid ₹21,044 crore for customs and excise duty. About ₹85,306 crore as goods and services tax (GST) and value added tax (VAT). Nearly, ₹3,213 crore as income tax.</li><li>Reliance added 75,000 new jobs in the financial year 2021.</li><li>Reliance Retail’s growth to triple in the next 3-5 years: “We are committed to grow our business so that we are among the top 10 retailers globally. I am confident that Reliance Retail is on a hyper growth trajectory to grow at least 3x in the next 3-5 years.”</li><li>“Today, Reliance is producing over 11% of India’s medical grade liquid oxygen,” <keyword id="7024" type="PERSON" weightage="20" keywordseo="Nita-Ambani">Nita Ambani</keyword>, a director of RIL, said in her address during the AGM.</li></ul>SEE ALSO: <h1 style="margin-bottom: 10px; padding-bottom: 15px; border-bottom: 1px solid rgb(238, 238, 238); font-variant-numeric: normal; font-variant-east-asian: normal; font-stretch: normal; font-size: 1.6rem; line-height: 1.2em; font-family: LabGrotesque-Black, Helvetica, Arial, sans-serif; vertical-align: baseline; color: rgb(17, 21, 22); background-color: rgb(255, 255, 255);"><a href="https://www.businessinsider.in/tech/mobile/news/jiophone-next-smartphone-announced-check-out-features-launch-date/articleshow/83806398.cms" data-type="tilCustomLink">Reliance announces JioPhone Next smartphone in partnership with Google – available from September 10</a> <a href="https://www.businessinsider.in/tech/news/jio-google-5g-announcement-google-cloud-reliance-retail-jiomart/articleshow/83807617.cms#:~:text=Jio's%20networking%20prowess-,Jio%20and%20Google%20come%20together%20for%205G%2C%20leveraging%20Google's,expertise%20and%20Jio's%20networking%20prowess&amp;text=Reliance%20will%20use%20Google%20Cloud,Android%20smartphone%2C%20the%20JioPhone%20Next." data-type="tilCustomLink">Jio and Google come together for 5G, leveraging Google’s cloud expertise and Jio’s networking prowess</a> <a href="https://www.businessinsider.in/tech/news/google-insiders-say-theyre-unhappy-with-its-risk-averse-style-as-the-company-grows-with-36-vps-quitting-in-a-year/articleshow/83748221.cms#:~:text=Google%20insiders%20say%20they're,VPs%20quitting%20in%20a%20year&amp;text=The%20New%20York%20Times%20found,shut%20down%20%22vanity%20projects.%22" data-type="tilCustomLink">Google insiders say they're unhappy with its risk-averse style as the company grows, with 36 VPs quitting in a year</a></h1>

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Reliance AGM 2024 at 2 pm today: What it is, where to watch, and what to expect

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