Deleveraging to boost RIL stock's performance

The promise of higher dividend payouts in future will enhance its attractiveness

Mukesh Ambani announced a game-changing set of initiatives at the Reliance Industries (RIL) Annual General Meeting (AGM). The subsidiary, Reliance Jio Infocomm (RJIL), will roll out commercial fixed broadband services from September. Reliance hopes to pick up 20 million home subscribers and 15 million business establishments, based on advance registrations. 

It is looking at a partnership with Microsoft’s Azure Cloud services to drive new offerings to SMEs and large enterprises. It’s also looking at the Internet of Things (IoT) market where it estimates an annual revenue opportunity of Rs 20,000 crore. Ambani also mentioned a blockchain initiative without offering details. 

Reliance will