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RIL AGM 2024: Reliance Industries (RIL) is preparing for its 47th Annual General Meeting (AGM), which will be held on August 29, 2024, through video conferencing and other audio-visual means. The company confirmed in a market filing, “This is to inform that the Forty-seventh Annual General Meeting (Post-IPO) of the members of Reliance Industries Limited will be held on Thursday, August 29, 2024 at 2:00 P.M.(IST) through Video Conferencing/ Other Audio Visual Means.”
During the AGM, Mukesh Ambani, the Chairman of Reliance Industries, will address the shareholders. Market observers are anticipating potential announcements and updates on various aspects of the company, including Jio Financial Services, new energy initiatives, plans for value creation, and timelines for initial public offerings (IPOs) related to the telecom and retail businesses.
Key focus areas for the AGM include the potential IPOs of Reliance Jio and Reliance Retail being announced, with Jefferies predicting a $112 billion valuation for Jio if listed next year, says an ET report.
Investors will also be interested in any possible strategic stake sale in the oil-to-chemicals (O2C) sector and updates on Reliance’s new energy strategy, particularly the progress of the green energy project at Jamnagar.
Furthermore, Reliance Jio’s recent tariff hikes, signaling a shift towards monetizing 5G services, will be closely monitored by investors.
Mukesh Ambani’s succession plan, which designates Isha, Akash, and Anant Ambani for key business areas, will also be under review, with a focus on any updates regarding leadership transitions.
Analysts from Bernstein and Morgan Stanley have raised their target prices for RIL, reflecting expectations of future growth driven by the telecoms and retail sectors, as well as consolidation in the O2C sector.
During the AGM, Mukesh Ambani, the Chairman of Reliance Industries, will address the shareholders. Market observers are anticipating potential announcements and updates on various aspects of the company, including Jio Financial Services, new energy initiatives, plans for value creation, and timelines for initial public offerings (IPOs) related to the telecom and retail businesses.
Key focus areas for the AGM include the potential IPOs of Reliance Jio and Reliance Retail being announced, with Jefferies predicting a $112 billion valuation for Jio if listed next year, says an ET report.
Investors will also be interested in any possible strategic stake sale in the oil-to-chemicals (O2C) sector and updates on Reliance’s new energy strategy, particularly the progress of the green energy project at Jamnagar.
Furthermore, Reliance Jio’s recent tariff hikes, signaling a shift towards monetizing 5G services, will be closely monitored by investors.
Mukesh Ambani’s succession plan, which designates Isha, Akash, and Anant Ambani for key business areas, will also be under review, with a focus on any updates regarding leadership transitions.
Analysts from Bernstein and Morgan Stanley have raised their target prices for RIL, reflecting expectations of future growth driven by the telecoms and retail sectors, as well as consolidation in the O2C sector.
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