With Reliance Industries shares already up 16% in 2025, all eyes are on Mukesh Ambani’s August 29 AGM, where the billionaire is expected to unveil strategies to double the company’s size by FY30.
MUMBAI (India CSR): Asia’s richest billionaire Mukesh Ambani has set an ambitious goal to double Reliance Industries Limited’s (RIL) Rs. 19 lakh crore empire by FY2030, a vision that could redefine shareholder fortunes. The target has ignited strong optimism on Dalal Street, with 44 lakh investors awaiting potential re-rating of the bluechip stock, media reports.
RIL shares have already surged 16% this year after a lackluster 2024, making the upcoming Annual General Meeting (AGM) on August 29 one of the most anticipated corporate events of the year. Analysts expect Ambani to unveil strategic announcements that could unlock substantial value across businesses. (Read More: Reliance Industries 48th AGM on Aug 29)
Despite mixed June quarter results, the management projected confidence in doubling group EBITDA by 2029-30. The company reaffirmed that Jio and Retail — its growth engines — will double earnings within 3-4 years. Brokerages back this optimism, citing tariff hikes, improving retail operations, and steady cash generation as strong tailwinds.
“Reliance’s consolidated Ebitda is expected to improve significantly in the near term. With Jio and Retail leading the way, the stock offers strong upside potential,” said Vikash Kumar Jain of CLSA. The brokerage has an ‘outperform’ rating with a price target of Rs. 1,650. Goldman Sachs pegs its target at Rs. 1,695, while HSBC recently upgraded RIL to ‘Buy’ at Rs. 1,630, highlighting catalysts in retail turnaround, new energy, and digital growth.
The new energy vertical is being viewed as the “third growth pillar.” Reliance plans to scale integrated solar and battery solutions to global leadership by 2026, aiming to cut energy costs by 25%. Nomura and Goldman Sachs see this business as a major long-term driver.
With potential triggers like Jio’s IPO and new energy rollouts, Ambani’s vision has positioned RIL for a multi-year growth story, keeping investor focus firmly on the August 29 AGM.
(India CSR)
