Funding is not an issue for Reliance given the current balance sheet. Reliance is almost debt free and will generate cash flow of Rs 65,600 crore in FY22 and grow to Rs 1.5 lakh crore by FY26, it said.
The government's tough new e-commerce rules announced on June 21 aimed at strengthening protection for consumers, caused concern among the country's online retailers, notably market leaders Amazon and Walmart Inc's Flipkart.
Reliance Retail will also focus on a multi-fold expansion of its store footprint this year to reach more merchants and customers while boosting its sourcing ecosystem by working closely with a host of partners including MSMEs
“Reliance will establish and enable at least 100 giga-watt (GW) of solar energy by 2030,” Ambani said. India has set a target to raise renewable energy capacity to 450 GW by 2030 from 95 GW at present.
RIL’s 44th Annual Meet HIGHLIGHTS: Reliance Industries Ltd chairman Mukesh Ambani made a slew of announcements related to solar and new energy business, along with JioPhone Next launch at 44th AGM 2021.
Nifty futures were trading 19.50 points or 0.12 per cent up at 15,715 on Singaporean Exchange, suggesting a gap-up start for BSE Sensex and Nifty 50 on Thursday, a day of weekly futures & option (F&O) expiry.