Reliance AGM 2021 to Witness Return of Whatsapp Chatbot
Reliance Industries has announced the return of its WhatsApp chatbot assistant, which will take care of most burning questions ahead of and during the RIL AGM 2021. The chatbot can be reached out by contacting the number +917977111111 on WhatsApp.
Investors Looking for a Hint about Demerger of the Main Company into Jio, Retail and Petrochemical Businesses
According to experts, shareholders and investors could be looking for a hint about the demerger of the main company into Jio, retail and petrochemical businesses.
Fitch Ratings Upgraded RIL to ‘BBB’ to ‘BBB-‘
Fitch Ratings has upgraded Reliance Industries Ltd’s (RIL) Long-Term Foreign-Currency Issuer Default Rating (IDR) to ‘BBB’, from ‘BBB-‘, with a negative outlook. At the same time, the agency has affirmed RIL’s Long-Term Local-Currency IDR at ‘BBB+’ with a stable outlook.
RIL AGM May See Launch of Low-Cost Laptops, JioBook
JioBook is another attraction that might lure investor’s attraction as low-cost laptops.
Much Awaited Dividend Declaration and Bonus May Finally Find Space
“Announcement over dividend declaration and bonus might also come in this AGM as it is long expected from last few AGMs and since Reliance likes to keep market price of shares around 1000 so we might get to see 1:1 bonus announcement,” said Gaurav Garg, Head of Research, CapitalVia Global Research.
RIL’s Growth Will be Propelled by its Retail and e-Commerce Businesses: Goldman Sachs
‘Announcements on Progress of 5G Launch and Expansion Plan of JioMart May be Made’
“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. Roadmap to achieve decarbonisation to meet ESG norms may also be discussed. 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,” said Deepak Jasani, head of retail research at HDFC Securities.
Update on Saudi Aramco Deal and Future Retail Merger Expected
Announcements on the progress of Saudi Aramco deal as well as Future Retail merger in the retail space are expected, according to Economic Times.
Key Announcements from Reliance Industries 43rd Annual General Meeting Last Year
Google stake buy in Jio | Google will invest Rs 33,737 crore for a 7.7 percent stake in Jio Platforms.
Debt-free ahead of schedule | The company had a target of becoming net debt free by March 2021. However, it achieved the goal ahead of the schedule.
Net carbon neutral by 2035 | “The energy industry must understand that fossil fuels and renewables are not mutually exclusive. The world needs access to clean and affordable energy,” said the company’s chairman.
Mukesh Ambani, Asia’s Richest Man, Did Not Take Any Salary in FY21 Amid COVID
Mukesh Ambani, the richest man in Asia, did not draw any salary from the Reliance Industries for the year 2020-21. The remuneration of Reliance Chairman for the financial year 2020-21 was nil, showed the annual report. Ambani decided to forego his salary in the light of deadly coronavirus outbreak in India, the company had said in June last year.
Reliance managing director took a salary of Rs 15 crore from his company in the previous fiscal.
Here’s Where and How to Watch RIL AGM
Here’s how and where you can catch all the action from the RIL AGM that will be held over video conferencing / other audio-visual means, owing to the pandemic situation.
– To view the AGM on JIOMEET, visit https://jiomeet.jio.com/rilagm/joinmeeting.
Click on OTHERS, enter your FULL NAME and ORGANISATION, and the CAPTCHA CODE that will appear on your screen. Access will be available from 30 minutes before the scheduled time of AGM.
– The Flame Of Truth Channel and Playback URL here
– Jio Channel and Playback URL here
– Reliance Industries Limited Page here and Playback URL here
– Jio Page here and Playback URL here
– @FlameOfTruth and Playback URL here
– @RelianceJio and Playback URL here
Mukesh Ambani-led Reliance’s Latest Venture: A Drug That May Cure COVID
To fight against COVID-19 pandemic which has severely affected the country in last one year, Reliance Industries has taken several initiatives — from setting up a hospital to ramping up the oxygen supply. Its latest venture is the authorization of a tapeworm drug that has potential to treat novel coronavirus infection.
The research and development (R&D) team of Reliance Industries, is exploring the use of Niclosamide — a drug used to treat tapeworm infestation as a treatment of COVID-19, mentioned the annual report.
Reliance Stocks Have Fallen Six Times on the Day of the Company’s AGM in the Last Ten Years
In last ten years, shares of RIL saw mixed trends on the day of the company’s AGM, reacting to the company’s announcements, falling on six occasions, while rising on the rest AGM days.
On the AGM day of 2019, the stock surged almost 10 percent. The stock has seen a gain of 27 percent on BSE in one year (since June 22, 2020) against a 51 percent rise in benchmark Sensex. In the calendar year 2021 so far, RIL’s stock is up 12 percent against a 10 percent rise in Sensex.
Experts Expect Announcements Across Telecom, Retail and O2C Businesses
“In the upcoming AGM, Reliance is likely to announce kickstarting of 5G services which might begin in late 2021. Moreover, 5G phones are likely to be revealed in the AGM which might be another interesting development to watch out for,” Gaurav Garg, Head of Research at CapitalVia Global Research told Moneycontrol As per global brokerage firm Goldman Sachs, updates around telecom tariff hikes, new product launches with Google, Facebook and Microsoft and potential value unlocking from a proposed energy business stake sale are expected.
Now have a Strong Balance-Sheet with High Liquidity: Ambani#
“We now have a strong balance-sheet with high liquidity that will support growth plans for our three hyper-growth engines – Jio, Retail and O2C,” Mukesh Ambani said in a statement to the shareholders of RIL in its annual report for FY20-21.
RIL AGM has Historically Been a Keenly Watched Event: HSBC Global Research
“RIL’s Annual General Meeting (AGM) has historically been a keenly watched event (last year saw 300,000 concurrent viewers of the virtual AGM across 42 countries and 468 cities) given that it has been one of the top three companies by market capitalisation in India, has a large free float and a large public shareholding (more than 3 million non-institutional shareholders),” brokerage HSBC Global Research said in a report.
Reliance Industries: A Look at Past AGMs
Reliance Industries, the company that is widely credited with having launched the equity culture in India, held AGMs in stadiums during times of its founder Dhirubhai Ambani. In 1985, at least 12,000 people attended the Reliance AGM at the Cooperage Football Ground in Mumbai’s Colaba. The next year, around 35,000 attended it at the Cross Maidan. Over the years, the AGMs got shifted to auditoriums even as its shareholder base swelled to over 24 lakh, CNBC reported.
RIL 44th AGM Today
Reliance Industries Limited (RIL) will be holding its 44th annual general meeting (AGM) on June 24 at 2 pm through video conferencing and other audio visual means (OAVM). It will be streamed live on JioMeet and users can register for the event on jiomeet.jio.com/rilagm/joinmeeting.