At Reliance Industries’ 2024 AGM, Mukesh Ambani outlined bold plans for the New Energy business, aiming to match the earnings of the company’s highly profitable O2C segment within the next 5-7 years.
Chairman Mukesh Ambani addressed shareholders at the 47th Annual General Meeting of Reliance Industries, and shared ambitious growth forecasts for Jio and Retail business over next 3-4 years, along with new AI-led offerings.
AMN
Chairman Mukesh Ambani at the 47th Annual General Meeting of Reliance Industries on August 29 announced AI-led digital offerings, and said the company is preparing the groundwork for a national AI infrastructure.
The production of solar PV modules will begin by the end of the year, Mukesh Ambani said, adding that RIL has commenced the construction of an advanced battery manufacturing facility at Jamnagar.
Earlier in the day, RIL informed stock exchanges that it will consider a bonus issue in the ratio of 1:1 on September 5.
Shares of Reliance Industries surged nearly 2.6 percent on 29 August after India’s most valuable conglomerate announced that its board will consider a 1:1 bonus share issue on September 5. The announcement came minutes ahead of RIL’s 47th annual general meeting that began today.
If approved, this will be RIL’s first bonus issue in seven years. With this bonus issue, the Mukesh Ambani-led conglomerate aims to reward shareholders for its strong financial performance and business expansion. This move is also expected to enhance the liquidity of RIL shares, making them more accessible to a broader range of investors.