RIL AGM 2020 LIVE Updates: Mukesh Ambani to Address First Virtual Shareholder Meet at 2pm

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.

The Mukesh Ambani-owned company, being the only listed entity having a market cap of more than Rs 12 lakh crore, successfully achieved the target of being net debt free that was set at the last AGM.

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.