Watch on oil, retail at Reliance AGM
Reliance Industries’ investors are expecting announcements on a stake sale in its oil-to-chemical business and an acquisition of the retail business of the Future group at the company’s forty-third AGM to be held through video conferencing on Wednesday.
The investors are also expecting chairman-cum-managing director Mukesh Ambani to offer directions on the course of Reliance’s digital services business under Jio Platforms, which has raked in an astonishing Rs 1.18 lakh crore through stake sales to 12 marquee investors, with the latest deal announced on Sunday evening when Qualcomm picked up a 0.15 per cent stake.
Besides, RIL has secured $1 billion from BP for its fuel retail business. The company also undertook a rights issue where 25 per cent of the over Rs 53,000 crore on offer is already in its bag.
