Reliance AGM tomorrow: What to expect from Ambani's address
Reliance Industries is hosting its 48th Annual General Meeting online at 2pm on August 29, 2024.
Mukesh Ambani will address about 4.4 million shareholders, with everyone waiting for updates on digital, retail, new energy, and oil & gas—and hoping for news about dividends and the much-anticipated Jio IPO roadmap.
Updates on AI, retail, and clean energy
Jio is set to show off its new AI project, JioBrain, plus plans to boost its 5G and JioAirFiber networks.
On the retail side, Reliance is teaming up with Shein for fast fashion and pushing quick commerce services.
There's also a big focus on self-sufficiency in clean energy with new facilities for solar modules, electrolyzers, and batteries coming in the next year or so.
Gas output and chemical production ramp-up
Reliance aims to increase gas output from the KG-D6 basin by H2CY28—it already supplies nearly a third of India's gas.
The company also wants to ramp up production of polyester, vinyl, and carbon fiber by FY27.
With India's demand for chemicals rising faster than GDP thanks to infrastructure growth, this sector is getting plenty of attention too.