Reliance AGM- Big change in Reliance, now the emphasis will be on green energy

In the 44th Annual General Assembly (AGM) of Reliance Industries, today its chairman Mukesh Ambani made many important announcements. He said that in the year ended March 31, the company has performed better than expected despite the pandemic.

There is a big change in Reliance, the company is now emphasizing on new energy, ie green energy like solar, instead of traditional energy. In the 44th Annual General Assembly (AGM) of the country’s largest company Reliance Industries, today its chairman Mukesh Ambani made many important announcements. He said that at the end of March 31, the company has performed better than expected despite the pandemic.

He said that by 2030, Reliance will generate 100 gigawatts of solar energy. Reliance will bring Gujarat on the solar map of India and the world. Reliance has formed a New Energy Council, in which many of the best talent of the country have been included. Reliance has started construction of Dhirubhai Green Energy Complex in Jamnagar which will have a generation capacity of 5000 GW.

Mukesh Ambani said that during the epidemic, Reliance Industries was one of the few companies in the world that has made profits in all quarters.

Jiophone next september
Reliance is bringing a very cheap 4G JioPhone Next smartphone. It has been developed jointly by Google and Jio. It will hit the market on Ganesh Chaturthi (September 10). It will have language and translation features and a great camera.

Mukesh Ambani said that Jio has more than 40 crore subscribers. Jio has become the world’s second largest data carrier. He said that Reliance has acquired additional spectrum by spending Rs 57,123 crore.

2G Free and 5G enabled India
He said that Reliance is helping to make India 2G free and 5G enabled. Significantly, many telecom companies including Jio have got permission from the Department of Telecommunications to test 5G services in the country. Recently Jio has tested a 5G field in Mumbai. This test will be done in other cities soon.

Better performance than expected
He said that the company has achieved revenue of 5.40 lakh crore during the financial year 2020-21. The company’s profit during this period has been more than Rs 53 thousand crores. Despite the pandemic, the company has paid more dividend. 75 thousand new jobs have been given. The company has raised capital of Rs 3.24 lakh crore during 2020-21, which is more than the capital raised by any company so far.

He said, ‘Due to the corona epidemic, for the second year in a row, they are missing face to face interactions. Such an epidemic was seen for the first time in the century. We have understood the suffering of any member of our Reliance as the company’s pain. ‘

Saudi Aramco representative on Reliance’s board
He joined the board of the company, Dr. R.A. Mashelkar, Professor Deepak Jain, RS Gujral, Arundhati Bhattacharya, Nita Ambani, Nikhil Meswani etc. were introduced to the shareholders. He said that YP Trivedi has retired from the board of the company. He joined the company’s board in 1992 itself. He told that Yasir Al Rumayen of Saudi Aramco has been included in the board of Reliance.

Social work during corona pandemic
On this occasion, Nita Ambani gave detailed information about the social work being done by Reliance Foundation during the Corona epidemic. He said that 14 schools of the foundation were converted into digital schools. He lauded the team for winning the IPL trophy by the Mumbai Indians team.

Nita Ambani said that medical grade oxygen production was started immediately at Reliance’s Jamnagar factory due to lack of oxygen. Now Reliance is producing the highest medical grade in the country. He said that Reliance is giving free oxygen to the countrymen. Apart from this, Reliance bought 100 oxygen-carrying tankers from India and abroad.

He said that Reliance has made arrangements to pay salaries for the next years to the families of the deceased employees and education of their children till graduation. Reliance sets up 116 vaccination centers across the country.

Investors’ attention
The stock market investors have a special eye on this AGM of Reliance. Shares of Reliance Industries opened at Rs 2214.80 with a gain of about Rs 9 today, but later went into the red mark. Around 10.20 am, Reliance’s stock went down by Rs 14 to 2191.

Prior to this, Reliance has also been a leader in providing 4G services in the country. So if it is at the forefront of the introduction of 5G services then it will not be a surprise. Reliance had earlier also said that it would start 5G services from mid-2021.

5G trial in Mumbai
Apart from this, American company Intel wants to partner with Jio for the development of 5G technology in India. It will be interesting to see how this tie-up will benefit 5G services in the country. Reliance has conducted a trial of 5G in Mumbai.

According to some reports, Jio has achieved a speed of 1Gbps using indigenous technology during this period. Similarly, another telecom company Airtel has also tested 5G in Gurugram.

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