RIL AGM 2021: On Friday, the stock of Reliance Industries fell 2.8 percent to a one-month low of Rs 2,093.20 on the BSE.
Mukesh Ambani, chairman of Reliance Industries Limited
The country’s largest company Reliance Industries Limited (RIL) lost a market cap of about Rs 1.30 lakh crore in the last two sessions. The lack of key announcements made at RIL’s 44th AGM held on Thursday failed to excite investors, leading to a fall in the stock. Shares of Reliance Industries fell 2.8 per cent to a one-month low of 2,093.20 on the BSE on Friday. Arrived at Rs. The stock has been declining for the last four sessions and it has broken nearly 6.45 per cent.
The smartphone was announced at the AGM as expected, JP Morgan said in a note to its investors. Along with this, the chairman of Saudi Aramco was included in the RIL board. However, no O2C completion deadline was given, no timeline on Whatsapp-JioMart, no timeline on Jio/Retail IPO.
>> Reliance to invest Rs 75,000 crore in green energy
Mukesh Ambani announced an investment of Rs 75,000 crore over the next three years to play the new ambitious and innovative role of Reliance Industries in the green energy segment. He presented plans to set up one lakh MW of solar power generation capacity by 2030 and make Jamnagar in Gujarat a major center for manufacturing technology and equipment in the region.
>> Announced the introduction of cheaper phones
Ambani also announced the launch of a cheaper phone prepared in collaboration with Google. Its purpose is to accelerate the adoption of 2G to 4G. However, its price information was not given. He said, a very cheap 4G smartphone is necessary to make India 2G free. The new smartphone will be equipped with features and apps of Jio and Google. Ambani has said that JioPhone Next will be the cheapest smartphone not only in India but in the whole world. The handset will be available from September 10.
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