Despite promising announcements, Reliance could not fight the bearish mood of the market. The stock is now trading at Rs. 2,596, down nearly 0.82%. The Nifty 50 is down 247 points at 17,309 while Sensex has slumped nearly 860 points to hover around 57,980.

Reliance has partnered with LithiumWerks, Faradion, and Ambri to manufacture battery packs. The company aims to start production by 2023 and scale up annual capacity to 5GWh by 2024. By 2027, it aims to reach an annual production capacity of up to 50GWh. Reliance will also work to produce green hydrogen in India by 2025. The company will also generate 20GW of solar energy by 2025 for its captive needs and green hydrogen project.

Reliance's oil and gas business has recorded a production jump of 9x and revenues crossing $1bn. With the commissioning of the MJ Field by end-2022, KG-D6 will contribute around 30% of India’s gas production, as per Mukesh Ambani.

Reliance Retail will launch a Fast-moving Consumer Goods business later this year. It will aim to offer daily-need products at affordable prices. Market goods produced by tribals and marginalized communities will also be offered.

Reliance Retail now has 20 lakh merchant partners and is on track to add one crore merchant partners in the next five years. The company has also launched WhatsApp-JioMart partnership wherein customers can order products directly from WhatsApp.

In 2022, Reliance Retail, led by Isha Ambani, served 200 million registered customers at Reliance Retail's physical stores and digital platforms. The company saw 2.3x YoY growth for its digital platforms and 2.5x YoY growth in orders (average daily orders of 6 lakh in 2022). There are now over 15,000 JioMart stores across India.

Reliance Jio has partnered with leading tech companies for its 5G services and solutions. It has tied up with Meta for immersive technology and metaverse, and with Google for 5G smartphones and cloud capabilities. The company has also joined hands with Microsoft for cloud-based business solutions and Intel for data centers.

Using Jio Airfiber, customers can opt to use a virtual PC – JioCloud PC. It is offered with no upfront investments, no upgrades. Those who have heavy workload can opt for multiple JioCloud PCs.

Reliance is claiming to offer 1Gbps speed via its standalone 5G services. The company aims to offer cloud gaming and immersive experiences via Jio Glass. The service is called Jio Airfiber.

Reliance Jio will deploy stand-alone 5G services in India. It will have zero dependency on 4G network. Only Jio has 700MHz low-band spectrum for "deep, indoor coverage," as per Mukesh Ambani. By Diwali this year, metro cities like Delhi, Mumbai, Chennai, and Kolkata will get the services first. By December 2023, Jio will deliver 5G to every town and tehsil of the country.

Reliance Jio has a fiber optic network of 11,00,000 kilometers. It currently enjoys over 7 million subscribers. According to Mukesh Ambani, with 20 million fixed broadband connections, India ranks a lowly 138. The company aims to bring the country to top 10, globally.

Reliance Jio has 421 million mobile broadband subscribers. On average, a Jio subscriber consumes 20GB 4G data per month, which is double from the year before.

Reliance has emerged as the first Indian corporate to cross $100 billion in annual revenues. The company's consolidated revenue grew 47% to Rs. 7,93,000 crore. The annual consolidated EBITDA crossed Rs. 1,25,000 crore. The exports grew 75% to over Rs. 2,50,000 crore. The company was also the country's largest taxpayer, adding Rs. 1,88,012 crore to the exchequer's purse.

Ahead of the key announcements expected at the ongoing AGM, the shares of Reliance are trading in green despite the market being down by around 1.2% today. As of now Reliance is trading at Rs. 2,635, up 0.6%.

Reliance is likely to announce plans for the progress in New Energy, oil-to-chemical business, IPO for telecom and retail verticals, and rollout of 5G services in India. We may also get to know how much Jio will charge for its 5G plans.

Mukesh Ambani-led Reliance Industries will host its 45th annual general meeting in India today. The event will kick-off at 2pm.