Reliance Industries ( Reliance Industries)’s Annual General Meeting (AGM) is no less than a mega event for its investors. The company’s AGM not only gives information about the performance of the last 1 year, along with all the important things, it also gives information about the future plans of the company in the coming years.
Let us tell you that tomorrow i.e. on June 24, at 2 pm, RIL is going to organize its AGM. This AGM will be visual. RIL Group, which works in the oil to telecom sector, has said that it will send the annual report of FY 2021 as well as the board’s report, auditors’ report and other necessary documents through electronic mode to the members of the company.
Looking at the movements of Reliance Industries shares on the day of AGM of the last 10 years, we have found mixed behavior in them. During the company’s AGM, there have been 6 years out of 10 years when there has been a fall in the company’s shares on the day of AGM, while there has been an increase in the shares on the 4th AGM.
On the day of AGM of the year 2019, the stock of the company had seen a rise of 10 percent. The 42nd AGM of the company was held on 12 August 2019. On that day the market was closed on account of Bakri-Eid. Due to this, on the second day of the AGM, when the market opened, there was a reaction in this stock and it was 9.72 percent.
The company’s 42nd AGM on August 12, 2019, deals with Saudi Aramco, the launch of Jio’s IoT platform, the rollout of Jio Fiber and Jio set-top boxes, investments by the company in 14 startups, agreements between Jio and Microsoft and Reliance Retail. Important announcements were made.
Significantly, this stock has seen an increase of 27 percent in the period of 1 year from 22 June 2020 till now on BSE. At the same time, the Sensex has seen a rise of 51 percent in the same period. So far in the year 2021, Reliance’s shares have seen a rise of 12 percent, while the Sensex has seen a rise of 10 percent.
Expectations from tomorrow’s AGM
Market players say that in the AGM to be held tomorrow, the company can make important announcements related to telecom, retail, oil-gas and petroleum business.
Gaurav Garg of CapitalVia Global Research says that Reliance can announce the launch of 5G services at tomorrow’s AGM. The company can announce the launch of 5G services by the end of 2021. Apart from this, 5G phones can also be announced in this AGM.
On the other hand, Goldman Sachs expects that tomorrow’s AGM may see big announcements regarding telecom tariff hikes, new product launches with Google, Facebook and Microsoft and unlocking value through stake sale in the energy business.
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