Businessman Mukesh Ambani
Mukesh Ambani, the country’s biggest businessman, has made a big announcement. He has said that he will double his company Reliance Industries (RIL) in the next five years i.e. by 2030. Now you must be thinking, what will be the benefit of common people? So know, Reliance has more than 44 lakh shareholders, that is, those who have shares of the company. When the company is big, these shareholders can directly benefit on their investment.
Although Reliance’s shares did not perform much strong performance in 2024, but this year it has recorded about 16%. Mukesh Ambani can make even more big announcements in the annual general meeting (AGM) to be held on August 29, which can prove to be even more beneficial for investors.
Live and retail will make big profits
Reliance Industries plans to double the company’s profit (Ebitda) by 2029-30. The biggest contribution behind this will be Jio (Telecom Sector) and Reliance Retail (shops and brands). According to the Economics Times report, Jio has recently raised its recharge prices, which will increase its earnings. At the same time, there are now clear indications of fast in retail business. At the same time, foreign investment firm CLSA has said that Reliance’s stock is quite cheaper at the current prices. If the company’s earnings increase, then there may be a tremendous jump in the stock. CLSA has predicted Reliance’s share price to reach Rs 1,650 in the next few months.
New energy will change the game
Reliance is no longer limited to oil and mobile. The company is now taking fast steps in the field of green energy i.e. solar energy and battery. Reliance aims to achieve 10 GW (GW) solar energy production capacity by 2026. This will save about 25% in the cost of electricity of the company’s factories and data centers. Large institutions like foreign investment firm Nomura and Goldman Sachs believe that this new business will prove to be a major source of profit for Reliance.
There may be big announcements in the coming months
Reliance is going to take many important steps in the next one year, which can create a stir in the stock market. These include Mukesh Ambani’s big announcements in Jio’s IPO, the launch of new factories and the AGM to be held on August 29. The big financial firm HSBC has also advised Reliance to buy after four years and has stated the target price of Rs 1,630 for the next few months.
Golden opportunity for investors?
If Reliance works firmly on its plan, then the company’s profit and share price can be seen fast. This simply means that the time coming can prove to be very beneficial for those who have already invested in Reliance or are thinking of investing.
Disclaimer: This article is only for information and should not be considered as an investment advice in any way. TV9 India suggests its readers and spectators to consult their financial advisors before taking any decision related to money.