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RIL 47th AGM 2024 August 29 Live Updates: Reliance Industries’ 47th annual general meeting begins. The meeting is in focus as shareholders anticipate some important announcements. Mukesh Ambani says Reliance Industries “is in the business of creating wealth for India and enhancing the quality of life for every India. On a mission to provide energy security for the nation.” Stay tuned to Financial Express.com’s live blog for all details. 

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14:26 (IST) 29 Aug 2024
RIL AGM 2024 Live Updates: Jio among India's largest patet holders

Mukesh Ambani while addressing shareholders at 47th AGM after IPO highlighted that Jio is among India's largest patent holders with 350+ patents in 5G and 6G.

14:22 (IST) 29 Aug 2024
RIL AGM 2024 Live Updates: RIL to consider 1:1 bonus issue

Reliance Industries Board will consider 1:1 bonus issue on September 5, 2024.

14:20 (IST) 29 Aug 2024
RIL AGM 2024 Live Updates: Mukesh Ambani on Jio Financial Services

Last year, the company floated the financial services business as a separately listed company. Today, JioFinancial Services is worth nearly Rs 2.2 lakh crore in market capitalisation. Jio Financial Services will continue to create great value for the society, said Mukesh Ambani.

14:19 (IST) 29 Aug 2024
RIL AGM 2024 Live Updates: Mukesh Ambani on Jio Financial

The market cap of newly listed Jio Financial exceeded Rs 2,2 Lakh crore.

14:17 (IST) 29 Aug 2024
RIL AGM 2024 Live Updates: Reliance plans to consider 1:1 bonus

"Our Founder believed that the shareholders deserve to be rewarded as our company progresses,’ says RIL CMD Mukesh Ambani, while announcing the company's plan to consider a 1:1 bonus," said Mukesh Ambani, Chairman of Reliance Industries.

14:16 (IST) 29 Aug 2024
RIL AGM 2024 Live Updates: Mukesh Ambani says Digital another principle area of inhouse development

Mukesh Ambani while addressing shareholders highlighted that RIL is focussing on digital growth and filed patents in 6G, 5G, AI-LLMs , AI deep learning, big data, devices, IoT.

14:13 (IST) 29 Aug 2024
RIL AGM 2024 Live Updates: Mukesh Ambani says

RIL spent over Rs 3,643 crore in R&D in FY24. Its R&D spend is over Rs 11,000 crore. Last year it filled 2,555 patents.

14:11 (IST) 29 Aug 2024
RIL AGM 2024 Live Updates: Reliance net producer of technology

"Reliance now has become a net producer of technology embedding innovative tech in every single business," said Mukesh Ambani while speaking at the 47th AGM of the company.

14:09 (IST) 29 Aug 2024
RIL AGM 2024 Live Updates: Mukesh Ambani says

"We are not in the business of short-term business and hoarding of wealth. We are int eh business of creating wealth for the nation," said Mukesh Ambani.

14:05 (IST) 29 Aug 2024
RIL AGM 2024 Live Updates: Mukesh Ambani begins address

The 47th RIL AGM kickstarts. Mukesh Ambani begins speech with congratulating PM Modi for winning elections the third time.

13:53 (IST) 29 Aug 2024
RIL AGM 2024 Live Updates: Mukesh Ambani on Creating Investor Wealth

In RIL's integrated annual report for 2023, Mukesh Ambani highlighted how, " Global optimism on the Indian economic and business outlook helped Indian equity indices to soar to record high levels. In February 2024, Reliance became the first Indian company to cross the Rs 20 lakh crore threshold in market capitalisation. The demerger of Jio Financial Services has unlocked significant value for shareholders. Enhancing investors’ wealth and contributing to India’s economic expansion inspire us to aim higher."

13:51 (IST) 29 Aug 2024
RIL AGM 2024 Live Updates : Reliance Industries to consider bonus shares

Reliance Industries to consider 1:1 bonus shares on September 5, 2024.

13:32 (IST) 29 Aug 2024
RIL AGM 2024 Live Updates : Reliance Jio over years

Mukesh Ambani, Chairman of Reliance Industries announced Reliance Jio during the AGM of 2016. In which he said that all voice calls would be free. After which, In 2017, Reliance launched the Jio Phone. The brand further grew and launched an optical fibre device called Jio Fiber in 2019. Then in 2021, Reliance Jio launched 5G services in the country. In 2022, it became the world's second-largest data carrier.

13:27 (IST) 29 Aug 2024
RIL AGM 2024 Live Updates: Mukesh Ambani on O2C biz in Q1

"Demand for downstream chemicals was muted globally but domestic demand remained healthy. Despite the headwinds, the O2C business registered a resilient performance," accepted Mukesh Ambani, Chairman of Reliance Industries during Q1 FY results announcements.

13:15 (IST) 29 Aug 2024
RIL AGM 2024 Live Updates: Mukesh Ambani on Reliance's performance in Q1

"The global economic scenario remained volatile causing considerable headwinds. The consolidated EBITDA grew 16.1% Y-o-Y to Rs 1,78,677 crore in Q1 FY25, whereas consolidated net profit stood at Rs 79,020 crore with 7.3% Y-o-Y growth. Importantly, all our business segments contributed to the growth in earnings," said Mukesh Ambani in his statement.

13:00 (IST) 29 Aug 2024
RIL AGM 2024 Live Updates: Reliance Industries up 1% ahead of AGM

The shares of Reliance Industries rose almost 1% to an intraday high of Rs 3,025 ahead of AGM. The stock is still 6% away from its 52-week high of Rs 3,217.60, which it touched on July 08, 2024. The upper band for the stock is placed at Rs 3,296.25. Reliance is the top contributor to the benchmark index Nifty 50.

12:46 (IST) 29 Aug 2024
RIL AGM 2024 Live Updates: Reliance Retail's revenue in Q1 FY25

The company's retail segment rose 17.8% to Rs 3,06,848 in Q1 of FY25. Meanwhile, the EBITDA or the operating profit rose more than 28% to Rs 23,082 crore in the same period as aforementioned. "Reliance Retail’s vision of inclusive development for millions of

consumers and merchants, coupled with the unprecedented growth of the Indian marketplace, has resulted in marquee names investing in RRVL at a US$ 100 billion valuation milestone," said Mukesh Ambani in Q1FY25.

12:30 (IST) 29 Aug 2024
RIL AGM 2024 Live Updates: Mehta Equities ahead of Reliance AGM

"High focus on a clear blueprint value unlocking from the Jio IPO along with Retail IPO demerger and followed by a concrete roadmap on the progress of new energy projects will also be in focus during the AGM. On the oil and chemical segment markets are also expecting updates on stake sale prospects. If we see stock performance pre and post-AGM in the last 3 years, based on high hopes pre-AGM moves are always positive like the way we are witnessing it from the last 15 days while post-AGM historically we have seen negative trends due to a fall in hopes. Overall we expect no big bang price action announcement from the AGM due today," said Prashanth Tapse, Senior Vice President of Research at Mehta Equities.

12:16 (IST) 29 Aug 2024
RIL AGM 2024 Live Updates: Expectations from RIL's AGM

During RIL’s 47th AGM, the company is expected to address the potential demerger of Reliance Jio and Reliance Retail from the parent company. Investors are eagerly anticipating concrete announcements regarding the IPOs of these entities, which are anticipated to be central topics of discussion.

12:01 (IST) 29 Aug 2024
RIL AGM 2024 Live Updates: RIL AGM in another 2 hours

In another two hours, the chairman of Reliance Industries Mukesh Ambani will be live. The meeting will be held through video conferencing. Shareholders and interested market participants can join the meeting virtually.

11:48 (IST) 29 Aug 2024
RIL AGM 2024 Live Updates: Reliance Industries performance in Q1

Reliance's oil-to-chemicals (O2C) sector faced a 14.3% EBITDA drop due to reduced fuel margins, Reliance Jio saw a growth of 11.7% in net profit, coming in at Rs 5,698 crore in Q1, driven by expanded 5G services, higher data consumption, and the cricket World Cup, which boosted user engagement. Jio saw its consumer base grow to 489.7 million from 481.8 million at the end of March. Average revenue per user (ARPU) increased to Rs 181.7 from Rs 180.5.

11:34 (IST) 29 Aug 2024
RIL AGM 2024 Live Updates: Reliance Industries AGM announcement

“The Forty-seventh Annual General Meeting (Post-lPO) (“AGM”) of the members of the company will be held on Thursday, August 29, 2024, at 2:00 P.M. (IST) through Video Conferencing (“VC”) / Other Audio Visual Means (“OAVM”), in accordance with the applicable circulars issued by the Ministry of Corporate Affairs and the Securities and Exchange Board of India,” said reliance Industries in an exchange filing.

11:14 (IST) 29 Aug 2024
RIL AGM 2024 Live Updates: Reliance Industries share performance

Over the past three months, the stock has given a commendable 4.25% return, showcasing its stability and growth potential. The last six months have seen even more impressive results, with a substantial increase of 2.85%, indicating a strong upward trend. Year-to-date, RIL shares have surged by 16.01%, reinforcing the stock’s positive momentum in the current fiscal year.

10:52 (IST) 29 Aug 2024
RIL AGM 2024 Live Updates: Reliance Industries shares up 0.3% ahead of AGM

Reliance Industries’ share price increased by 0.30% today, trading at Rs 3,005.30, in anticipation of its 47th Annual General Meeting (AGM), scheduled for 2:00 PM. Meanwhile, its peers in the energy sector exhibited mixed performance, with Oil & Natural Gas Corporation, Oil India, and Hindustan Petroleum Corporation experiencing declines, while Petronet LNG saw gains.

Read the full story: RIL’s 47th AGM today: A look at how the stock performed in last one year