Sensex Rallies over 400 Pts in Early Trade Led by Gains in Index-heavyweights, Including Reliance Industries |Equity benchmark Sensex rallied over 400 points in early trade on Wednesday led by gains in index-heavyweights Infosys, Reliance Industries and TCS amid largely positive trend in global markets. After touching a high of 36,465.34, the 30-share BSE Sensex was trading 423.11 points, or 1.17 per cent, higher at 36,456.17.
Mukesh Ambani to Address Reliance Industries’ AGM Shortly | At Reliance Industries’ annual shareholder meeting today, RIL Chairman Mukesh Ambani is likely to announce plans of leveraging recent partnerships with global technology giants like Facebook as well as a vision to maximise oil to chemical conversion. Notably, This will be Reliance Industries’ first virtual AGM amid the COVID-19 crisis.
JP Morgan on Reliance Industries’ AGM | JP Morgan said the AGM could have updates on Reliance Retail (large new commerce/e-commerce rollout). “While we do not expect any large strategic investor in Reliance Retail any time soon, this is a key potential event the investors will be watching, especially as the Jio Platforms stake sale seems done,” it said.
Reliance Industries’ First Virtual AGM | This will be Reliance Industries’ first virtual AGM amid the COVID-19 crisis. Thousands of shareholders across the countries are expected to join the meeting.
BofA Securities on RIL’s AGM | BofA Securities said of the five key initiatives announced in last AGM of Reliance Industries Limited, RIL completed the strategic stake sale of Jio, petro-retail, and moved to zero net debt. “We might get an update on the remaining two – stake sale to Aramco and of Reliance Retail.” “We may get further updates on how RIL is looking capitalise on the digital trends and how it is leveraging and nurturing the start-up ecosystem,” it said adding progress/update on other initiatives from last AGM like home broadband, online grocery/new commerce initiatives, Jio First Day-First-Show along with a few new announcements are expected.
A RECAP | The highlight of 2017 Reliance Industries annual general meeting was 1:1 bonus issue, the launch of JioPhone with free voice calls and energy assets monetisation while 2018 AGM focused on O2C integration, integration of Jio and offline retail stores and transitioning into a technology platform, news agency PTI reported. Meanwhile, the 2019 AGM highlight was the end of the telecom investment cycle, de-leveraging in 18 months and telecom and retail listing in 5 years.
One Lakh Shareholders from 500 Locations to Log in | As per Reliance Industries Limited, “befitting Jio’s technology, the AGM will showcase multiple firsts on real-time basis, including a chatbot, two-way live streaming, and a brand-new virtual platform that enables more than 1 lakh shareholders from 500 locations, in India and overseas, to log in simultaneously”.
Goldman Sachs on Reliance Industries’ AGM | Goldman Sachs said the focus of Reliance Industries’ annual general meeting is expected to be largely on product launches around RIL’s partnership with Facebook potentially ranging from integration of JioMart with WhatsApp, additional colour on payments business and launch of a large product ecosystem (Super App) where Jio could integrate its services with WhatsApp.
Sale of Stake in Jio Platforms Raised Rs 1,18,318.45 Cr from Top Global Investors |Sale of stake in Jio Platforms raised Rs 1,18,318.45 crore from top global investors such as Facebook, Silver Lake, Vista Equity Partners, General Atlantic, KKR, Mubadala, ADIA, TPG, Qualcomm, L Catterton and PIF since April this year. Thirteen investments in twelve weeks have taken the total stake that Reliance sold in Jio Platforms to 25.2 percent.
RIL’s Asset Monetisation Plans | The AGM is “expected to report on progress on asset monetisation (INViTs and stake sale in O2C business), more details on strategic partnerships in digital business, growth plans on financial vertical, oil to chemical integration progress and new technologies,” Morgan Stanley said.
Strategic Direction Post Covid-19 & Details on Asset Monetisation Key Expectations | Billionaire Mukesh Ambani is likely to announce plans of leveraging recent partnerships with global technology giants like Facebook as well as a vision to maximise oil to chemical conversion at his flagship Reliance Industries’ annual shareholder meeting on Wednesday, analysts told news agency PTI. Ambani, 63, may at the company’s first online AGM also give a sneak preview of his vision for decarbonization of energy molecules to create value-added products with almost no carbon emissions. Strategic direction post-COVID-19 and further details on asset monetisation are key expectations from the 43rd AGM of RIL, analysts said.
RIL’s Mukesh Ambani, Worth Over $68 Billion, is Now Richer Than Warren Buffett | Reliance Industries Limited (RIL) Chairman and Managing Director Mukesh Ambani is now richer than Warren Buffet in terms of net worth. Ambani is now worth $68.3 billion, crossing Buffett’s %67.9 billion, according to the Bloomberg Billionaires Index. Ambani, 63, is now the eighth richest person in the world, and Buffett is ninth. He is currently the only Asian business tycoon in the exclusive club of the world’s top 10 richest people last month, according to the index. Read full story here.
Accessing the ChatBot | The WhatsApp Chatbot Assistant is designed to help shareholders with the onboarding process and also help with general FAQs, guidance for the Virtual AGM, voting on resolutions, Dividend and Taxation details as well as for sharing important links and documents. Users will also be able to access FAQ videos via the WhatsApp Chatbot Assistant. In order to access the meet, one needs to send a “Hi” from their WhatsApp number to the ChatBot WhatsApp number 79771 11111.The ChatBot will act as a help desk to answer queries related to RIL AGM.
#RILAGM
Many firsts: 2-way live streaming on a brand-new virtual platform that enables shareholders from 500 locations, in India & overseas, to log in simultaneously; an educative Whatsapp chatbot +917977111111 to nuance logging in, ask questions & votehttps://t.co/PgpcBpI8vz pic.twitter.com/VyQyqQ9Kql
— Flame of Truth (@flameoftruth) July 13, 2020
Many Big Ticket Announcements Likely | RIL chairman Mukesh Ambani is expected to make several big ticket announcements at the AGM, likely giving updates on the company’s $15 billion deal with Saudi Aramco, plans of listing Jio Platforms and Reliance Retail, launch of 5G services, and the way forward for JioMart, the retail arm’s e-commerce venture.
Reliance Industries Share Price Reaches New High | Reliance Industries share price reached a new record high of Rs 1,948.75 intraday today ahead its 43rd Annual General Meeting later in the day. Kotak Institutional Equities has reiterated a buy rating on the stock and raised its SoTP-based FV to Rs 2,150 from Rs 1,750 earlier, ascribing higher value to the retail business and rolling forward to September 2021.
RIL Launches Chatbot Assistant on WhatsApp | RIL has this year also launched a Chatbot Assistant on WhatsApp ahead of the annual general meeting. The WhatsApp Chatbot Assistant is designed to help shareholders with the onboarding process and also help with general FAQs, guidance for the Virtual AGM, voting on resolutions, Dividend and Taxation details as well as for sharing important links and documents. Users will also be able to access FAQ videos via the WhatsApp Chatbot Assistant.
Reliance will also stream the event live on the company’s official website, as well as on YouTube and Facebook. One can also get all the real-time updates of the RIL AGM on company’s Flame of Truth Twitter handle and official Facebook channel.
Reliance Will Allow Users to Enter Webinar Through JioMeet | For the first time, Reliance will allow users to enter the webinar through JioMeet video conferencing platform. Shareholders will be able to log into the event half an hour before it starts, listen to the plans and initiatives and comment and participate as well.
‘Focus on Growing Retail Business (JioMart) & Overseas Listing of Jio Platforms’ |“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 Network18’s Moneycontrol.
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.
‘AGM Expected to Garner Maximum Viewership’ | “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.
RIL to Hold Its 43rd Annual General Meeting | India’s most-valued private company Reliance Industries Limited (RIL) will hold its 43rd Annual General Meeting on Wednesday. The oil-telecom-to-retail giant recently crossed Rs 12 lakh crore in market capitalisation, becoming the first listed Indian entity to achieve the feat. This will be Reliance Industries’ first virtual AGM amid the COVID-19 crisis. Thousands of shareholders across the countries are expected to join the meeting.
