New Delhi: Reliance Industries Limited (RIL) saw its share price rise by 0.64 per cent to Rs 3,014.95 on the BSE on Thursday morning, ahead of its much-anticipated Annual General Meeting (AGM). By 10:13 AM, the stock was trading 0.31 per cent higher at Rs 3,005, while the BSE Sensex was up 0.27 per cent at 82,006.
The AGM, led by Mukesh Ambani, is scheduled to begin at 2 PM IST today. Analysts expect several significant announcements during this 47th AGM, given the company's strong track record and recent developments in various business segments.
One of the key focuses for investors will be updates on RIL's Rs 75,000 crore investment in renewable energy, including project timelines and sustainability goals. The potential IPOs of Reliance Retail and Jio Platforms are also in the spotlight, with expectations that at least one could be launched before the fiscal year ends.
Investors are also likely to pay close attention to any plans for reducing debt through asset sales or other strategies, as this could impact the stock price. Additionally, updates on Reliance Jio’s 5G rollout, including subscriber growth and international expansion, are expected to influence market sentiment.
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Reliance Industries Share Price Performance on AGM Days
Historically, RIL’s stock has seen significant movement on AGM days. In 2019, the stock surged by 9.7 per cent on the day of the AGM, driven by announcements about Jio’s fibre-to-home service and a debt-free roadmap laid out by Mukesh Ambani. However, in 2020, the stock declined by 3.8 per cent on the AGM day.
Reliance Industries, a major Indian conglomerate, operates across various sectors, including petrochemicals, refining, oil, telecommunications, and retail. The company boasts the largest market capitalisation in India, valued at Rs 20.30 trillion.
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