| |
The share price of Reliance Industries (RIL) slipped one percent in the opening trade on June 25, a day after the company held its 44th annual general meeting (AGM).
Company Chairman Mukesh Ambani announced a Rs 75,000 crore green energy plan. Addressing the AGM virtually, Ambani said the company’s performance continued to be outstanding even during the challenging time of the coronavirus pandemic.
“I am happy to report that even in a challenging environment, your company’s performance continued to be outstanding. Our consolidated revenue was nearly Rs 5.4 lakh crore, with a sharp increase from our consumer businesses. Our consolidated EBITDA was nearly Rs 98,000 crore, and almost 50 percent of the EBITDA was contributed by consumer businesses,” he said, according to a report.
The company plans to build four giga factories as part of the environment-friendly initiatives. Giga factories will manufacture and fully integrate all the critical components of the “new energy ecosystem”, Ambani said, the report states.
He also announced the launch of a new smartphone. “I am pleased to announce that Google and JIO teams have jointly developed a truly breakthrough smartphone, that we are calling JIOPHONE Next,” he said, according to the same report.
The stock was trading at Rs 2,127.50, down Rs 25.85, or 1.20 percent. It has touched an intraday high of Rs 2,159.80 and an intraday low of Rs 2,126.50.
