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Reliance Industries Limited (RIL) will hold its 45th Annual General Meeting (AGM) on Monday at 2 PM. The AGM will be conducted via video conferencing for the third consecutive year. RIL chairman Mukesh Ambani is expected to make a slew of announcements.
In 2021, the company announced the launch of the JioPhone Next and the company's entry into the green energy sector with a budget of Rs 75,000 crore. In 2020, the most important announcement was the induction of Google as a minority investor in the company.
What to expect from RIL's AGM?
The company is expected to announce a timeline for the launch of its 5G services in India. Reliance Jio was the highest bidder in the 5G Spectrum auctions held during the first week of August. It spent Rs 88,000 crore, nearly half of the total Rs 1.5 trillion paid by all the bidders.
According to an earlier report by Business Standard, Ambani is also expected to launch a 5G phone. A 5G phone with a price of around Rs 12,000, developed with the help of Google, might be released at the AGM.
JP Morgan had earlier stated that they expect the company to provide a timeline for its retail and telecom businesses' initial public offerings (IPOs). The company operates two units, Reliance Retail Ventures and Jio Platforms, for the two sectors.
The company is also expected to further discuss its strategy in the green energy sector. After the announcements made in 2021, where the company said it would invest Rs 75,000 crore in various projects to boost the use of green energy, RIL stated that it would bring the cost of green hydrogen down to $1 per kg. It currently costs $4-5 per kg.
The announcements are expected to be made as RIL's rivals have already taken the lead. Bharti Airtel has signalled that it might launch its 5G services by the end of August. The Adani Group has announced a plan to invest Rs 3. trillion in green hydrogen for green energy in the next ten years.
Also, the company is expected to announce the dividend for FY22 on Monday.
Where to watch RIL's AGM?
The AGM will be broadcasted live across various social media platforms.
The investors can watch the live streaming of the meeting on Jio Meet. It can also be watched on YouTube on Reliance Updates and Flames of Truth.
On Facebook, the meeting can be watched on the pages of Reliance Industries Limited and Reliance Jio.
The live stream will also be available on Twitter in the profiles of Flame of Truth and Reliance Jio.
The meeting can also be watched on the Koo app in the profile of Reliance Updates.
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First Published: Mon, August 29 2022. 09:47 IST