Reliance Industries AGM Highlights: Stronger than ever before, says Mukesh Ambani

Reliance Industries, India's most valued private company holds its 43rd Annual General Meeting today. The company's promoter and Asia's richest man, Mukesh Ambani, delivers his annual speech at the AGM, announcing Google's partnership with Jio Platforms. Thank you for tuning in to DH's live coverage of the RIL AGM, stay tuned to DH.

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Mukesh Ambani thanks shareholders, investors, central, state governments, employees and the board

Now, Reliance among world's top 60 companies, says Mukesh Ambani

Will partner with small merchants, kisans, local startups and global technology, energy companies: Mukesh Ambani

In 2020, we can all be proud that RIL stands stronger than ever before: Mukesh Ambani

Through our education and sports program that has reached out for 21.5 mn children, we are trying to develop a holistic scouting ecosystem in our country: Nita Ambani

Reliance Foundation in collaboration with government and municipalities, trying to scale testing to a mass level, says Nita Ambani

Reliance Foundation providing food for the needy, Mission Anna Seva now world's largest food distribution program: Nita Ambani

Reliance providing free fuel to emergency vehicles; enabling students and work from home with internet facilities: Nita Ambani

Nita Ambani speaks for the first time at a Reliance AGM, talks about Reliance Foundation's contributions to the fight against Covid-19

Reliance has a 15 year vision to become a leader in the new energy and new materials business, says Mukesh Ambani

Transportation fuels to be replaced with cleaner alternatives- full-stack electrolyser and fuel cell solutions -- at an affordable price

Reliance's to achieve cleaner energy by making CO2 a recyclable resource, chemicals

Oil to Chemicas (OIC)

• Business and consumer activity had come to a halt leading to unprecedented demand destruction and dislocation of margins.
• Despite that, all our manufacturing facilities continued to operate at over 90% capacity utilisation.
• During India’s lock-down, we leveraged our deep understanding of global markets and successfully enhanced our petrochemical and fuel exports by over 2.5 times in just two weeks.
• In April 2020, O2C business accounted for nearly 50% of India’s exports.

RIL to spin-off O2C business into separate entity. Process likely to complete in 2021

The deal with Saudi Aramco hasnt progressed as per stipulated timeline: Ambani

JioMart's launch accelerated, to also sell pharmaceuticals, healthcare, manufacturing, fashion and electronics

Den and Hathway to merge with Network 18 group to creat ethe biggest media & broadcast enterprise

Google, Jio partnership to allow people to access information freely and widely: Google CEO Sundar Pichai

Jio to have a 5G empowered smartphone, powered by Google

JioMart and Whatsapp to work closely to integrate customers and seamless transactions

JioMart to help customers and Kirana stores

- Kirana stores to partner with Jio mart to cut back on demand, delivery setbacks
- Fresh supplies, easy to use platforms that can surpass supply bottlenecks

Jio 5G

- Blazing fast internet speeds
- Labour force to be employed
- Allowing different sectors to sell, connect and do business via digital platforms

JioMeet to integrate digital solutions for education, healthcare

A collaboration platform for virtual hangouts or voting sessions
Education
JioMeet & Embibe allows collaboration of classes without any limitations- no duration and users limitation
Allows personalisation - enabling teachers and students to meet personalised education goals
Healthcare
Jio HealthHub to enable digital healthcare integrating all Jio products - online consultations, lab tests

Jio launches Jio Glass

Jio Glass can create 3d, 2d holograms for communication
It can conduct holographic classes in real time

Jio Fiber's JioTV+ launched

This platform integrates different OTT platforms into one
No separate logins for different platforms required
Majority of TV channels integrated into one
Interactivity into broadcast television with Jio TV+
Jio app store to allow multiple internet apps- both free and monetised

Jio's 5G infrastructure to offer solutions in innovative ecosystems for global opportunities.

Ambani says Jio solutions to be a global leader in digital solutions

JioMeet has seen 5 million downloads within days of its launch.

Ambani announced launch of Jio 5G platform completely made in India.

Jio is an essential service provider in the Covid-19 era, provides services to millions of homes: Ambani

This is the last fund raising deal by Reliance's Jio Platforms.

With Google deal, Jio Platforms Limited has now four strategic partners Facebook, Intel, Qualcomm and Google. It has also six technology and financial investors and three sovereign funds, taking the total tally of investors to 14. Total funds raised is Rs 1,52,056 crore.

The four strategic partners besides bringing in cash are also going to play a strategic role in shaping the future of Jio.

Total capital raised by Reliance in past three months now amounts to Rs 2.13 lakh crore: Ambani

Mukesh Ambani announces Google to invest Rs 33,737 crore for a 7.7% stake in Jio

Ambani welcomes digital partnerships with Facebook, KKR, Qualcomm, Intel, Silver Lake, Vista

Ambani also welcomes ADIA, Mubdala, PIF

RIL completed india's largest ever rights issue of over 53k crore rupees , which was oversubscribed and completed entirely on a digital platform: Ambani

Happy to report that we have fulfilled the 'net-debt free' promise: Ambani

The consolidated performance of Reliance Industries in EBITDA jumped by 10% due to growth in organised retail: Ambani

India's largest exporter, accounting for 9.1% of India's merchandise export: Ambani

Consumer business showed 49% EBITDA consumer growth

RIL's 43rd meet hosted via Jiomeet.

- India's only cloudconferencing app, buil in the past few months

Watch: Reliance Industries' 43rd AGM

Key expectations

A sneak peek of Ambani's vision for decarbonization of energy molecules to create value-added products with almost no carbon emissions is also expected at this AGM.

Strategic direction post-COVID-19 and further details on asset monetisation are key expectations from the 43rd AGM of RIL, analysts said.

The AGM is "expected to report on progress on asset monetisation (INViTs and stake sale in O2C business), more details on strategic partnerships in digital business, growth plans on financial vertical, oil to chemical integration progress and new technologies," Morgan Stanley said.

Ambani is likely to announce plans of leveraging recent partnerships with global technology giants like Facebook as well as a vision to maximise oil to chemical conversion at his flagship Reliance Industries' annual shareholder meeting

Equity benchmark Sensex rallied over 400 points in early trade on Wednesday led by gains in index-heavyweights Infosys, Reliance Industries

"This time, everyone is hooked on to Reliance because of the deals they have been doing on their Jio platforms," said Rusmik Oza, head of fundamental research at Kotak Securities.

This is the first virtual AGM by the company hosted on JioMeets and other social media platforms

According to the company, " the AGM will showcase multiple firsts on real-time basis, including a chatbot, two-way live streaming, and a brand-new virtual platform that enables more than 1 lakh shareholders from 500 locations, in India and overseas, to log in simultaneously”.

The company is known for the big-bang announcements on the AGMs

Last year, Ambani announced the company's net-debt free target. This year speculations are rife that some talk of Google's potential $4-billion bid might be announced.