Reliance AGM: Reliance AGM: Mukesh Ambani said – Reliance Retail will give 10 lakh jobs in three years

Reliance Retail, a company of Reliance Industries, will give more than one million jobs in the next three years. Mukesh Ambani made this announcement at the 44th AGM of Reliance on Thursday (June 24, 2021). He said that in the next 3 to 5 years, there will be three times growth in Reliance Retail. Last year, it sold 180 million dresses and shoes that could cover the entire population of Britain, Germany and Spain at once.

Investors eye 44th AGM

A day before the AGM, i.e. on June 23, the stock of Reliance Industries had seen a fall of about 1 percent. The company’s investors are waiting for many big announcements and clarifications from Reliance Industries. Investors are hopeful that today’s AGM will get information about new strategic investors and progress made on stake sale so far.

Goldman Sachs: Reliance’s share prices may increase by up to 7 percent, retail business will become the growth engine of the group

Reliance Retail Reliance’s growth engine: Goldman Sachs

Goldman Sachs has said that retail can be the growth engine of Reliance in the next ten years. Goldman Sachs, the global brokerage and research firm of the group’s retail business, has said that the group’s retail business earnings (EBITDA) can grow up to ten times in the next ten years. The brokerage firm has said that during the deteriorating macro situation, Reliance Industries has put its full focus on strengthening its digital capabilities. In the coming days, Reliance will further strengthen the omnichannel it is ready to provide for its products including retail and will be able to capture a large share of the market.

The brokerage firm has said that by FY 2030, the share of organized retail in groceries will increase to six times the current level. In this 15 percent stake will be of Reliance Industries. Reliance Industries Limited currently holds 41.5 per cent stake in the organized retail space.