RIL AGM 2020: 'Reliance achieved net debt free balance sheet', says Mukesh Ambani

Reliance Industries' Chairman Mukesh Ambani during Annual General Meeting 2020 announced that company has achieved net debt free balance sheet. "In last year's AGM speech, I shared my goals of growing through partnership and achieve net debt free balance sheet, I am happy to announce we achieved that," said Mukesh Ambani.

Who Is Mukesh Ambani?

Indian businessman Mukesh Ambani is worth $68.4 billion. Business Insider says he's the richest person in India and all of Asia. What do we know about him? Ambani is the chairman and largest shareholder of oil-to-telecom conglomerate Reliance Industries. He is almost four times richer than the second-richest person in India. He and his family live in a 27-story skyscraper in Mumbai that cost an estimated $1 billion to build. Ambani gets approximately $31,202 richer every minute.

Opening bell: Equity indices trade higher, Reliance AGM in focus

Equity benchmark indices traded over one per cent higher during early hours on July 15 tracking positive global trends with gains led by IT and financials stocks. At 10:15 am, the BSE SandP Sensex was up by 536 points or 1.49 per cent at 36,569 while the Nifty 50 edged higher by 157 points or 1.48 per cent at 10,757. All sectoral indices at the National Stock Exchange were in the green with Nifty IT up by 3.1 per cent, private bank by 1.7 per cent and financial service by 1.2 per cent. Shares of Reliance Industries moved up by 1.52 per cent to Rs 1,945.80 per share ahead of its annual general meeting this afternoon.