RIL AGM: Here is what D-St analysts said post Mukesh Ambani's speech

NEW DELHI: Reliance Industries AGM could not lift shares of the company but analysts largely remained optimistic post the announcements, wherein the company Chairman and MD Mukesh Ambani hoped to double the oil-to-telecom major's value by 2027. Here is what experts said:

Geojit Financial Services

VK Vijayakumar, Chief Investment Strategist at Geojit Financial Services, said the highlight of the AGM was Ambani's emphasis on succession planning. He concluded his address by seeking everyone's blessings for the "Gen next taking over the reins confidently."

"With Akash heading Jio, Isha heading Retail and Anant heading Energy, the plans are clearly spelt out," Vijayakumar said.

Besides, Vijaykumar said Ambani's promise to double the value of the company by 2027 is reassuring. His commitment to India and faith in the India Growth Story remains as strong as ever, he added.

Sharekhan
For Abhijeet Bora, AVP – Research at Sharekhan, RIL AGM focused on three areas of 5G investment of Rs 2 lakh crore, new energy capex of Rs 75,000 crore and launch of its FMCG business. plan to start the 5G rollout in four metros by Diwali with a target of pan-India coverage by December 2023.

"New Energy business clearly outlines capacity building and timeline to start production across key value chains with 10 GW solar PV cell & module facility to start production by 2024, green hydrogen by 2025 and battery packs by 2023. Investment of Rs 75,000 crore in O2C business surprised us, with capacity expansion for PTA/PET/Polyester by 2026. The clear succession plan for each business of Jio, retail and new energy is also important from building a leadership team for sustained growth (RIL targets to double its value by end of 2027)," he said while maintaining a Buy rating on RIL.

(More to come)

(Disclaimer: Recommendations, suggestions, views, and opinions given by the experts are their own. These do not represent the views of Economic Times)