Reliance Industries 45th AGM: What To Expect From Mukesh Amabni's Speech At 2:00 PM Today

Reliance Industries 45th AGM: Reliance Industries Chairman and Managing Director Mukesh Ambani will address shareholders of the company at 2:00 pm on Monday (August 29) on account of its 45th annual general meeting (AGM). Investors are hoping for big announcements on the future path of the company at RIL's 45th AGM from Ambani. At its 44th AGM, last year, Ambani announced company's ambitious plan to foray into new energy business and committed that the company will become net carbon zero by 2035. Along with these the Reliance also announced launch of JioPhone Next

At its last year’s AGM, Reliance announced annual additions of solar photovoltaic to increase global solar capacity from 737 GW in 2020 to about 5,000 GW by the end of 2030. It also announced setting up of Dhirubhai Ambani Green Energy Giga Complex on 5,000 acres in Jamnagar. 

“Over the next 3 years we will invest over 60,000 crore rupees in these initiatives. Reliance will thus create and offer a fully integrated, end-to-end renewables energy ecosystem,” Ambani said.

Reliance said that it will establish and enable at least 100GW of solar energy by 2030. A significant part of this will come from rooftop solar and decentralised solar installations in villages. These will bring enormous benefits and prosperity to rural India.

Meanwhile, market participants expect Ambani to lay out future plan for the company while some expect that he will take this opportunity to announce value unlocking plans for Reliance Jio and Reliance Retail at the same time Ambani is also likely to announce the succession plan for the country's most profitable and valuable company.

The company is expected to announce a timeline for the launch of its 5G services in India. Reliance Jio was the highest bidder in the 5G Spectrum auctions held during the first week of August. It spent Rs 88,000 crore, nearly half of the total Rs 1.5 trillion paid by all the bidders, Business Standard reported.

Ambani is also expected to launch a 5G phone. A 5G phone with a price of around Rs 12,000, developed with the help of Google, might be released at the AGM, the report added.

Global brokerage firm JP Morgan in a note said that it expects the company to provide a timeline for its retail and telecom businesses' initial public offerings (IPOs). The company operates two units, Reliance Retail Ventures and Jio Platforms, for the two sectors.

The company is also expected to further discuss its strategy in the green energy sector. After the announcements made in 2021, where the company said it would invest Rs 75,000 crore in various projects to boost the use of green energy, RIL stated that it would bring the cost of green hydrogen down to $1 per kg. It currently costs $4-5 per kg.

Reliance Industries shares were trading 0.19 per cent lower at Rs 2,613 ahead of its AGM, outperforming the Sensex which was down 1.4 per cent.