On Thursday, the 47th Annual General Meeting (RIL AGM 2024) of the country’s most valuable company Reliance Industries was concluded. Addressing this, Chairman Mukesh Ambani talked about the financial health of the group companies and the roadmap ahead. During this, he praised Reliance Jio a lot. He said that the market capitalization of Jio Financial Services has crossed Rs 2 lakh crore.
Mukesh Ambani praised in AGM
Reliance Chairman Mukesh Ambani, while talking about Jio Financial Services in the general meeting, said that JioFin’s business is moving forward on the right track and its market capitalization has crossed Rs 2 lakh crore. The effect of the praise given in the AGM was also seen on the company’s shares on Friday and it jumped by about 2 percent in early trading, due to which the company’s market capitalization reached Rs 2.07 lakh crore.
Purchase and stake in Jio Payments
It is worth noting that Jio Financial Services had recently increased its stake in Jio Payments and bought 6.8 crore equity shares. After this purchase, the company’s stake in Jio Payments has increased to 82.17 percent. JioFin has made a new investment of Rs 68 crore in the company’s shares and has bought shares with a face value of Rs 10.
What is the condition of the stock today after AGM
Jio Fin Share opened on the green mark on Friday, the fourth trading day of the week. It opened at Rs 327.65 at 9.15 am and reached the level of Rs 331.60 within a few minutes. The 52-week high level of this stock is Rs 394.70, while the low level is Rs 204.25. If we look at the returns received by those who invested in the shares of this newest company of Mukesh Ambani, its price has increased by about 50 percent in the last one year. On August 30, 2023, the price of one share was Rs 231.25, which has jumped by Rs 95 during this period.
The value of Reliance will double!
Reliance Chairman said in the AGM that today Reliance is among the top 50 companies in the world. He said that in July 2018, the company achieved a valuation of $100 billion and in just six years, it crossed the $250 billion mark. Along with this, he said that in 2027, when the company completes 50 years, its market value will double.
(Note- Before making any investment in the stock market, please consult your market experts.)
Source (PTI) (NDTV) (HINDUSTANTIMES)