Stock Price Of Reliance Industries (RIL) Gain 1.71% Today, Read All New Ventures At AGM: Buy Stock?

The share price of Reliance Industries Ltd. has surged significantly today, after the company organized its 45th Annual General Meeting yesterday. RIL informed stated that in FY 2022, the company became India's first corporate to cross $100 billion in annual revenues. This multibagger company's Chairman also announced new ventures in its telecommunication segment - Jio, renewable energy business, and retail business. Check details here for investment.

RIL - NSE performance

The current market price of RIL closed at Rs. 2,642/share on NSE, up by 1.71%, on August 30. In the last 5 days, its share price dropped by 0.77% on NSE, and in the last 1 month, its share price has surged by 2.61%. In the past 6 months it has gained 10.15%, and in last 1 year its share price has gained by 17%. In the long term its share growth has been quite high, in the last 5 years, it stock price surged by 231.29%.

Recommendation to buy RIL stock

A reputed brokerage firm Sharekhan suggests investors to buy this large cap stock with a target price of Rs. 3050, for high returns.

The 52-week high level of this stock is Rs. 2,856.15, and the 52-week low level of this stock is Rs. 2,180.

Market capitalization	Current market price	5 Years performance	1 Year performance
Rs. 1,784,778 crore	Rs. 2,642	231.29%	17.00%

Financial results

Reliance's consolidated revenues grew 47% to Rs. 7.93 lakh crore, or $104.6 billion, in FY 2022 Reliance's annual consolidated EBITDA crossed a crucial milestone of Rs. 1.25 lakh crore. RIL's exports increased sharply by 75% to cross 2,50,000 crore. The company accounted for nearly 8.4% of India's merchandise exports in the year, up from 6.8% last year. During FY 2022, Reliance continued to be the largest tax-payer in India. Reliance's contribution to the national exchequer by way of various direct and indirect taxes increased 38.8% to 1,88,012 crore, Mukesh Ambani informed yesterday at the AGM.

Additionally, within one year, RIL replaced almost 5% of energy consumption at our Dahej and Hazira sites by green power and green steam. Within one year, the renewable energy consumption at Reliance jumped by 352%.

Business growth - retail

The group's retail business grew 2.3 times over one year, and served over 200 million registered customers. RIL's retail arm has registered a growth of 18% YoY, and marked 4.5 billion visits to its digital platforms. Their digital commerce platforms continued growth with nearly 6 lakh orders being delivered every day, an increase of 2.5 times over last year. JioMart is delivering in over 260 towns. RIL opened over 2,500 stores in the year to take their store count to over 15,000.

Their strong design and sourcing ecosystem have enabled them to grow their brands across Apparel and Footwear. Their brands contribute to over 65% of overall revenues.

New Ventures for telecommunication

Mukesh Ambani stated that Jio is creating digital connectivity, especially in fixed broadband - Stand-Alone Jio 5G services, which have zero dependencies on our 4G network. RIL will have committed a total investment of Rs. 2 lakh crore for this. Within the next 2 months, by Diwali, they will launch Jio 5G across multiple key cities, including the metropolises of Delhi, Mumbai, Kolkata, and Chennai. Subsequently, they plan to increase the Jio 5G footprint month after month.

Initiating a revolution for the sports segment, Mukesh Ambani added, "The big difference you can see is that because of Giga-bit speeds of JioAirFiber, we can now deliver not just one video stream, but multiple video streams, showing multiple camera angles at the same time, and that too in ultra-high definition."

Energy Business

For their O2C business, this was yet another year of superlative performance. It crossed Rs. 5 lakh crore in annual revenues. The EBITDA crossed Rs. 50,000 crore. They committed to maximizing Oil to Chemicals integration and converting our advantageous feedstock streams to high-value chemicals and green materials. Mukesh Ambani added that over the next 5 years, they will invest Rs. 75,000 crore and expand capacities in existing and new value chains.

They will also reinvest in Polyester Filament Yarn (PFY) and Polyester Staple Fibre (PSF). Polyester expansion with capacity of over 1 MMTPA will be completed in phases by 2026. In the Polyester value chain, we will build one of the worlds' largest single-train PTA plant of 3 MMTPA capacity at Dahej.

Disclaimer

Investing in equities poses a risk of financial losses. Investors must therefore exercise due caution. Greynium Information Technologies, brokerage firm, and the author are not liable for any losses caused as a result of decisions based on the article.