The Reliance board will consider a one is to one bonus issue on the 5th September. The move to reward the shareholders takes the stock higher in trade. No word on the potential listing of Jio and Reliance Retail. Reliance Jio will roll out AI Cloud Services from this Diwali will offer 100 GB cloud storage for free as a welcome offer, aims to double Jio’s revenue and EBITDA in 3 to 4 years. Isha ambani says Reliance Retail will double its business in the next 3 to 4 years. Reliance retail have 16% share of Indian modern market.Reliance retail added 1840 stores last fiscal year.
The company is now among the top 5 in the world in number of stores. The new energy business will be the new jewel in Reliance’s crown, says Mukesh Ambani will set up a multi gigawatt electrolyzer manufacturing facility by 2026. Expect new energy to deliver earnings like O to C business in the next 5 to 7 years. With an eye on embedding innovative technologies in every single business and another on powering India to a leadership position in green and clean energy, Reliance chairman Mukesh Ambani laid out the conglomerate’s road map at their 47th annual general meeting. Here are the highlights.
• Reliance Industries Limited has sent a notice to the stock exchanges that the Board of Directors will meet on the 5th September to consider issuing bonus shares in the ratio of 1 is to 1 With the success of Atmanirbhar efforts.
• Reliance spent over 3,643 crores in the financial year 24 towards R & D.
• 1,000 scientists and researchers working on critical research projects across all businesses.
• Jio users will get up to 100 GB of free cloud storage to securely store and access all their photos, videos, documents, and all other digital content and data.
Plan to launch the Jio AI Cloud welcome offer starting Diwali of this year, bringing a powerful and affordable solution where cloud data they announced in 47th AGM.
• Jio home app includes features like malware detection and guest Wi Fi management, keeping your home network safe and secure.
• Ril opened 1,840 new stores this year, bringing our total store count to 18,836 stores with a retail space of 79,000,000 square feet in total.
• MD have confident that reliance will achieve their goal of doubling our retail business in the next 3 to 4 years. This shows how strong they planned for next step of big giant.
• Double Reliance Industries in size before the end of this decade and double Reliance Geo’s EBITDA and revenues and Reliance Retail’s revenues in the next 3 to 4 years.
• Now Reliance Industries, on a consolidated basis, had revenues of over 10 lakh crore rupees, and talking about doubling that before the turn of this decade.
• Reliance Jio had revenues of 10,000 crore rupees. Margins are more than 52%, double that in 3 to 4 years. And Reliance Industrial, has revenues of more than 30,000 crore rupees.
The Reliance 47th AGM has set the vision, and the vision is to grow, become bolder, bigger, and target aggressive growth.
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