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Reliance 44th AGM Highlights: Key announcements made by Mukesh Ambani

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The 44th annual general meeting (AGM) of Reliance Industries (RIL), India's largest business by market capitalization, was held virtually on June 24, 2021, at 2 p.m.

 

The S&P BSE Sensex jumped 393 points, or 0.75 percent, to 52,699, while the wider Nifty50 index advanced 103 points, or 0.66 percent, to 15,790. The top Sensex gainers were Infosys, TCS, and Tech Mahindra, while the top laggards were Reliance industries, Bharti Airtel and HDFC.

During the RIL AGM, India's most valuable firm made many announcements related to its telecom, retail, and oil-to-chemicals businesses. Several people, from investors to consumers, have been paying close attention to Reliance Industries' annual shareholders' meeting over the years.

Reliance 44th AGM Highlights: Key announcements made by Mukesh Ambani
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  • According to RIL chairman, India is destined to become one of the world's top three economies.
  • Ambani believes that the Indian economy will recover at a rate that will astound the rest of the globe.
  • In the last ten years, Reliance has invested $90 billion in creating significant wealth for the country.
  • Reliance is Confident of becoming the first company to roll out 5G network.
  • According to Mukesh Ambani, JioFiber has acquired over 2 million new premises in the last year.
  • JioPhone Next is unveiled by Mukesh Ambani. Ambani claims that the phone is the cheapest in India and the world.
  • According to Sundar Pichai, Reliance Retail, Reliance Jio, and other significant businesses would employ Google's cloud services.
  • The company has operationalized an initial 10 MW capacity of JIO-AZURE Cloud Datacentres in Jamnagar and Nagpur in collaboration with Microsoft, says Mukesh Ambani.
  • It deployed an initial set of WhatsApp and JioMart connections on a trial basis with Facebook.
  • Jamnagar has a 5,000-acre Energy Giga Complex. It will be one of the world's largest integrated renewable energy manufacturing complexes.
  • Reliance AGMReliance is also developing a New Materials and Green Chemicals strategy.
  • To support our hydrogen and solar ecosystems, we'll begin by strategically investing in India's first world-scale carbon fiber facility.
  • Reliance will develop and market a fully integrated renewable energy eco-system from start to finish.
  • Mukesh Ambani claims that RIL will be a net-zero-carbon firm in 15 years.
  • Yasir Al-Rumayyan would join RIL's board of directors as an independent director.
  • Reliance Retail remains India's unchallenged leader in organised retailing, with a scale that is more than six times that of the next competition.
  • Despite the hurdles posed by COVID 19, we have made significant progress in our conversations over the last year. These discussions took place in the spirit of a shared determination to turn our long-standing connection into a long-term collaboration.
  • RIL would invest over Rs 60,000 crore in these activities over the next three years.
  • Mission oxygen- RIL produces 11% of India's medical-grade oxygen. 100 oxygen cylinders were procured from both India and outside.
  • Jio Institute will begin academic sessions at its Navi Mumbai location this year.
  • Started Her Circle, an inclusive, collaborative, interactive, and socially conscious digital movement for women, on International Women's Day in March this year.
  • This year, the Reliance Foundation teamed together with USAID to launch the Women Connect India Challenge.

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