The 47th Annual General Meeting (AGM) of Reliance Industries Limited (RIL) will be held on August 29. Investors are waiting for the AGM of RIL, a giant company of oil to telecom sector. JM Financial said, ‘The main expectations from Reliance’s AGM can be an update on the timeline for the listing of retail and digital businesses and potential strategic stake sales in the O2C business. Jio may be valued at $112 billion on public listing
Jefferies said in a recent note that Reliance Industries Limited’s telecom business, Reliance Jio Infocomm (Jio), could be valued at $112 billion on public listing. On the O2C business, BoB Capital Markets said that RIL’s annual report talks largely about external market changes, indicating that there is no focus on large O2C investments in the future. Updates on new energy business will be monitored in AGM 2024
JM Financial said, ‘The progress of various ongoing projects in the new energy business, the timeline for the commissioning of the projects and any information about the earning prospects from such projects will be closely monitored.’ RIL announced an investment of Rs 75,000 crore in new energy at its 2022 AGM. At its 2023 AGM, Mukesh Ambani had said that RIL would use its committed capital to build a new energy manufacturing system. Ambani had said, ‘This will enable us to accelerate giga-scale production for round-the-clock power and large-scale green hydrogen production for green chemicals manufacturing as well as for green mobility.’ Therefore, updates on the new energy business will be monitored at AGM 2024. Company will continue to raise capital to support growth plans
Analysts said the company will continue to monitor financial markets to take advantage of capital raising opportunities to support its growth plans, as stated in the FY24 annual report. Company’s target is to become the largest RE developer in India
ICICI Securities said, ‘New Energy will start its first exercise of module and cell manufacturing in FY25. Solar panels manufactured in Jamnagar have received BIS certification. Also, work on RE development has started and Reliance has been allotted land in Gujarat. The company’s target is to become the largest RE developer in India. It has started participating in RE PPAs and the first PPA has been signed with MSEDCL for 128 MW for 25 years.’ Many investments in the new energy segment will start gradually
The brokerage expects that many investments in many sectors of the new energy segment will start gradually. At the same time, capital in other segments will increase 3.9 times to Rs 2.1 lakh crore during FY 19-24. However, revenue and profitability from this segment will take some time. Bernstein has raised his target price on Reliance from Rs 3,190 to Rs 3,440. Bernstein said, ‘It will be important to focus on the timeline of the launch of new energy products and the potential listing of Jio-Reliance Retail.’ Meanwhile, investors are eagerly waiting for any updates on 5G monetization and succession plans. Read this news too… Reliance AGM on August 29: The company invested ? 1.32 lakh crore in FY24, Mukesh Ambani has not taken salary for four years The 47th Annual General Meeting (AGM) of Reliance Industries will be held on August 29. The company gave this information in its annual report. Reliance presented the full account of FY 2023-24 on 7 August. In this report, the company presented the data of its entire business including its expenses and earnings. Read the full news…
