Shares of Reliance Industries Ltd. rose nearly 1.5% to reach a day’s high of Rs 3,074 on 29th August, following the company’s AGM 2024 today.

Reliance Jio Infocomm, the telecom arm of Reliance Industries Ltd., plans to double its revenue and EBITDA in the coming 3-4 years. Chairman and MD Mukesh Ambani shared this goal at the company’s AGM on 29th August 2024 in Mumbai.

He pointed out that Jio’s emphasis on cutting-edge tech breakthroughs and its commitment to customers and shareholders puts it in a strong position to play a crucial role in India’s digital future. This approach, he noted, will help drive improvements in connectivity to reach these bold goals.

He also highlighted AI’s huge ability to drive growth and said he’d keep everyone in the loop about how Jio is moving forward with AI.

For the June quarter, Reliance Jio reported 10.1% year-over-year revenue growth to Rs 26,748 crore, with EBITDA at Rs 13,920 crore, up from Rs 13,612 crore in the previous quarter.

The company announced a board meeting on 5th September to consider a 1:1 bonus issue. Its market capitalisation rose to Rs 2,060,084 crore.

At 3:30 PM, the shares of Reliance Industries closed 1.55% higher at Rs 3,042.90 on NSE.

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