Reliance Industries AGM 2020: This is the 43rd Reliance Industries Annual General Meeting
Reliance Industries AGM 2020: Billionaire Mukesh Ambani-led Reliance Industries held its 43rd annual general meeting (AGM) on Wednesday. In a first, the annual general meeting of oil-to-telecom conglomerate RIL - whose market capitalisation topped the Rs 12 lakh crore mark earlier this week - was conducted through a video webcast. Reliance Industries announced a slew of deals, including an investment of Rs 33,737 crore in its digital serves arm, Jio Platforms, by Alphabet Inc's Google. However, Reliance Industries' deal with Saudi Aramco has not progressed according to the scheduled time due to "unforeseen situation in the energy market and COVID-19 situation", Mr Ambani said in an address to the company's shareholders at the AGM. In June, Reliance Industries became net debt-free, reaching the milestone much ahead of a March 2021 announced by Mukesh Ambani in the previous AGM, held in August last year.
Here are highlights of billionaire Mukesh Ambani-led Reliance Industries' 43rd AGM:
Reliance Industries Shares Fall After Saudi Aramco Deal Update
Reliance Industries shares fell to as low as Rs 1,798.15 apiece on the BSE in late afternoon deals on Wednesday, having earlier risen to a record high of Rs 1,978.80. That marked a plunge of 9.14 per cent from the all-time high registered hours ago.
Reliance Industries shares closes 3.71 per cent lower at Rs 1,845.60, underperforming the benchmark Sensex index which gave up its entire intraday gains to end the session on a flat note.
Mukesh Ambani Says Saudi Aramco Deal Hasn't Progressed According To Original Timelines
Due to unforeseen circumstances in the energy market and the COVID-19 situation, the Saudi Aramco deal has not progressed according to original timelines, Reliance Industries chairman Mukesh Ambani told shareholders at the group's annual general meeting.
Reliance Industries Has A Very Special Place In Heart For Startups: Mukesh Ambani At RIL's Annual General Meeting
Reliance Industries chairman Mukesh Ambani said that Reliance Jio Infocomm is still a startup. Reliance has a "very special place in our heart for startups", he told shareholders, speaking at the group's 43rd annual general meeting (AGM).
Reliance Industries chairman Mukesh Ambani said that Reliance Jio Infocomm is still a startup. Reliance has a "very special place in our heart for startups", he told shareholders, speaking at the group's 43rd annual general meeting (AGM).
Reliance Industries Has An Extremely Strong Balance Sheet: Mukesh Ambani at RIL's Annual General Meeting
"It is in excess of our net debt of Rs 1,61,035 crore at the end of FY19-20," said Mukesh Ambani. "Reliance is now truly a zero net debt company, well ahead of my goal of March 2021. It has an extremely strong Balance Sheet that will support growth plans for its three Hyper-Growth Engines - Jio, Retail and O2C," he said in his address to shareholders.
Reliance Industries Raised Rs 2,12,809 Crore In Less Than 3 Months: Mukesh Ambani
Google's investment in Jio takes cumulative fund-raising by Reliance Industries in less than three months to Rs 2,12,809 crore, said Mukesh Ambani. He was referring to investments from companies including Facebook, the Rs 53,124-crore rights issue of Reliance Industries which concluded last month, and investment by BP in a fuel retailing venture with the conglomerate.
Delighted To Welcome Google As Strategic Investor: Mukesh Ambani
"We are delighted to welcome Google as a strategic investor in Jio Platforms," Mukesh Ambani told shareholders, at Reliance Industries' 43rd AGM.
"We are delighted to welcome Google as a strategic investor in Jio Platforms," Mukesh Ambani told shareholders, at Reliance Industries' 43rd AGM.
Delighted To Welcome Google As Strategic Investor: Mukesh Ambani
"We are delighted to welcome Google as a strategic investor in Jio Platforms," Mukesh Ambani told shareholders, at Reliance Industries' 43rd AGM.
"We are delighted to welcome Google as a strategic investor in Jio Platforms," Mukesh Ambani told shareholders, at Reliance Industries' 43rd AGM.
Google To Invest Rs 33,737 Crore In Jio Platforms: Mukesh Ambani At AGM
Reliance Industries chairman Mukesh Ambani announced that Google will invest Rs 33,737 crore in Jio Platforms. Google's investment will be equivalent to a 7.7 per cent stake in Jio Platforms, he said. (Read full story here)
Reliance Industries chairman Mukesh Ambani announced that Google will invest Rs 33,737 crore in Jio Platforms. Google's investment will be equivalent to a 7.7 per cent stake in Jio Platforms, he said. (Read full story here)
Jio Platforms is the digital services arm of Reliance Industries.
Reliance Industries India's First Company To Cross Rs 12 Lakh Crore In Market Value: Mukesh Ambani To Shareholders
Reliance Industries is the country's first company to cross the market capitalisation of Rs 12 lakh crore, said chairman and managing director Mukesh Ambani.
Reliance Industries is the highest payer of GST and value-added tax, and among the highest payers of income tax, Mukesh Ambani told shareholders at the company's 43rd AGM.
Corona Crisis Most Destructive Event In Modern History: Mukesh Ambani
Reliance Industries chairman Mukesh Ambani said the coronavirus pandemic is the "most destructive event in modern history". However, Mr Ambani said he has no doubt that the country will achieve fast growth post-crisis.
Mukesh Ambani Begins Address To Shareholders At Reliance Industries' 43rd AGM
Reliance Industries chairman Mukesh Ambani is addressing his group's 43rd AGM through video conferencing.
Reliance Industries chairman Mukesh Ambani is addressing his group's 43rd AGM through video conferencing.
Reliance Industries' 43rd AGM To Begin Shortly
Reliance Industries' 43rd annual general meeting will be held through video conferencing.
Reliance Industries' 43rd annual general meeting will be held through video conferencing.
"Jio Has Truly Become Digital Gateway Of India": Mukesh Ambani Said At AGM 2019
Reliance Industries chairman and managing director Mukesh Ambani - India's richest man - will address shareholders at the conglomerate's 43nd annual general meeting today.
"Jio has truly become the digital gateway of India," Mr Ambani had said at the company's 42nd AGM held in August last year. He also said that Reliance Industries' two consumer businesses - Reliance Jio and Reliance Retail - "now collectively contribute nearly 32 per cent to the consolidated EBITDA, up from 2 per cent five years ago... The day is not far when their share would be 50 per cent." (Read full speech)
Reliance Industries' Rights Issue Is India's Largest So Far
Reliance Industries' rights issue worth more than Rs 53,000 crore, which concluded in June, is so far India's largest. The rights issue was subscribed 1.6 times, in "a vote of confidence, by both domestic investors, foreign investors and small retail shareholders, in the intrinsic strength of the Indian economy", RIL chairman Mukesh Ambani said.
All Eyes On Jio Announcements At RIL's 43rd Annual General Meeting
Analysts keenly await any new announcements by Reliance Industries about the group's digital services arm, Jio Platforms, which houses telecom major Reliance Jio Infocomm. Reliance Industries raised Rs 1,18,318.45 crore by selling a more than 25 per cent stake in Jio Platforms through 13 deals since April 22.
RIL Market Value Hits Rs 12.54 Lakh Crore For First Time Ever
As the shares rose to a new record high, Reliance Industries' market capitalisation touched the Rs 12.54 lakh crore mark for the first time ever. Only last month, Reliance Industries became net debt-free, much before its original target of March 2021.
As the shares rose to a new record high, Reliance Industries' market capitalisation touched the Rs 12.54 lakh crore mark for the first time ever. Only last month, Reliance Industries became net debt-free, much before its original target of March 2021.
"I have fulfilled my promise to the shareholders by making Reliance net debt-free much before our original schedule of 31st March 2021," Mukesh Ambani said as his group reached the milestone. He had announced the target at the company's 42nd AGM, held in August 2019.
RIL Shares Hit Record High
Today, Reliance Industries shares rose as much as 3.23 per cent to clock a new all-time high of Rs 1,978.50 apiece on the BSE.
At 12:53 pm, the stock traded up 1.85 per cent at Rs 1,952.10 apiece on the bourse, ahead of the Reliance Industries AGM, outperforming the benchmark Sensex index which was up 1.75 per cent.
Reliance Industries Continues To Hold Most Valuable Indian Company Title
Reliance Industries is India's most valuable company, meaning its market capitalisation (also known as M-Cap) is the highest among listed companies in the country.
Reliance Industries is India's most valuable company, meaning its market capitalisation (also known as M-Cap) is the highest among listed companies in the country.
On Monday, Reliance Industries' M-Cap crossed the Rs 12 lakh-crore mark for the first time ever. Reliance Industries Limited (RIL) shares have broken a series of records in the past few weeks.
Reliance Industries AGM To Begin At 2 PM Through Video Conferencing
#RIL is holding its 43rd Annual General Meeting (Post-IPO) on Wednesday, 15th July 2020 through Video Conferencing ("VC") / Other Audio-Visual Means ("OAVM") from 2:00 p.m. onwards.
- Flame of Truth (@flameoftruth) July 10, 2020
You are requested to save the date and stay tuned for more updates.#RILAGM#NayeIndiaKaNayaJoshpic.twitter.com/3Z9TqIyl9j
