Reliance Industries Limited ‘s shares grew more than two per cent ahead of the 43rd Annual General Meeting ( AGM) of the business. India’s most important stock has risen more than 1% in the morning trade and has slowly climbed as investors are preparing for announcements at the AGM. RIL shares were trading up by 2.87 per cent at about 11:40 am.
An Alphabet’s Google is in early talks to invest $4 billion in Jio Platforms, according to a study published in Bloomberg. Although Reliance has not yet issued confirmation on this, an announcement could be on cards during the AGM. In addition, RIL Chairman Mukesh Ambani is likely to comment on the future roadmap after a few weeks of aggressive capital raising after the company succeeded in being net-debt-free. It is also expected that the success of Reliance’s rights issue will feature in Ambani ‘s address to shareholders in the group.
The company has already made clear its vision of transformation: from just an energy and power provider to becoming a leading technology-first consumer-oriented provider. There are chances that Ambani would announce more Jio Platform related plans. The AGM will start via video conferencing at 2 pm.