Addressing the India Mobile Congress, Mukesh Ambani, on October 25, was not like any businessman but was like a promoter of technology. He told every person in India to have 4G phones in 2020. He said that this period is of new generation of telecom technology. They talked about new world, new India and New commerce. Through this, he talked about a new Reliance in a way.
Talking about Mukesh Ambani’s current vision, in terms of market capitalization, by 2020, the main business of Reliance, the country’s largest company, can be tech. At present, the form of Reliance, which is mainly the business of refiners and petrochem producers, will change to a large extent.
This year, on October 18, Reliance’s quarterly quarter-quarter results saw the company’s revenues rise 54.5% compared to the previous year and 17.4% in profit. If you analyze these results, then it is known that there is a major shift in Reliance.
This is the first time that revenue of Rs 44,615 crore came from Reliance’s retail, digital services and media businesses, while the revenue of Rs 43,745 crore came from the rough profits Petrochem Business. Sudeep Badopadhyay, chairman of Inditrade Capital, said, “Definitely this is a major change. People are still keeping an eye on Reliance’s refining and petrochem businesses. Reliance has started discussing for a few days. However, there is still no retail business in the focus of the Analyst Community.
Along with announcement of quarterly results, the company also announced the acquisition of cable and internet companies Den and Hathway. Apart from this, the US-based Personal Transportation Company has also invested in Skytran. It is clear from this that Mukesh Ambani wants to make the company consumer Play and New Technology based company in the next decade.