RIL shares gain ahead of 49th AGM; street awaits Jio IPO, AI, and new energy updates

Shares of Reliance Industries Ltd. (RIL) rose 0.77% to an intraday high of ₹1,338 on Friday ahead of the company’s 49th Annual General Meeting (AGM), where investors are expected to closely watch announcements around a potential listing of Jio Platforms, artificial intelligence (AI) initiatives, new energy expansion, and retail growth plans.

Chairman Mukesh Ambani is expected to devote a significant part of his AGM address to outlining his vision for Reliance Industries’ next phase of growth, as the conglomerate’s diversified businesses increasingly emerge as multiple engines of value and cash generation operating in tandem.

The AGM, scheduled for today, comes at a time when expectations are running high over the conglomerate’s next phase of growth, particularly across its consumer and technology-led businesses.

Jio IPO in focus

Among the key announcements being tracked is the proposed initial public offering (IPO) of Jio Platforms. At last year’s AGM, RIL had indicated plans to list Jio by the first half of 2026, a timeline that concludes on June 30.

Investors are now looking for greater clarity on the listing roadmap amid reports that Reliance Jio Infocomm may soon file draft IPO papers with the Securities and Exchange Board of India (Sebi). RIL currently holds around 66.43% stake in Jio Platforms while global technology majors Meta and Google together own 17.71%.

Retail listing expectations

Market participants are also expecting commentary on the timeline for a potential Reliance Retail IPO. The retail business has emerged as one of the group’s largest growth drivers, and any update on listing plans could act as a significant trigger for investor sentiment.

AI strategy under spotlight

Artificial intelligence is expected to feature prominently in the conglomerate's strategy talks. RIL has accelerated investments in digital infrastructure through partnerships and data centre expansion, including a recently announced agreement with Meta for a 168 MW data centre project in Jamnagar.

New energy roadmap

The company’s new energy business is also expected to remain in focus. Investors will seek updates on progress across solar manufacturing, battery production, green hydrogen, and electrolyser development. The company has already commenced production of high-efficiency solar modules, while its 40 GWh battery gigafactory is moving closer to scale-up. The electrolyser manufacturing facility is targeted to begin production by the end of 2026, alongside continued development of the integrated energy complex in Kutch.

Legacy businesses remain important

While Reliance’s traditional Oil-to-Chemicals (O2C) and oil and gas businesses faced pressure during FY26, investors are expected to seek management commentary on margins, demand trends and profitability outlook.

However, market attention increasingly remains centred on the group’s digital, retail, and clean energy verticals as the company positions them as its next engines of growth.