Reliance shares move up ahead of its AGM today; check all details here
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Reliance shares in focus:Reliance Industries (RIL) share price was up 0.64 per cent at Rs 3014.95 per share on the BSE ahead of its annual general meeting (AGM) on Thursday. At 10:13 AM; the share price was trading 0.31 per cent higher at Rs 3,005. By comparison, the BSE Sensex was trading 0.27 per cent higher at 82,006 levels.
The AGM of Mukesh Ambani-owned RIL will begin today at 2 PM IST. Analysts anticipate a range of significant announcements at the 47th RIL AGM, with investors expected to have high expectations based on the company's strong historical performance and recent developments across its business segments.
Investors will closely watch Reliance Industries' AGM on August 29, 2024, for updates on its Rs 75,000 crore renewable energy investments, including project timelines and sustainability goals.
The anticipated IPOs of Reliance Retail and Jio Platforms could also impact stock prices, with expectations of one IPO before the fiscal year ends.
Additionally, any plans to reduce debt through asset sales or other means will be scrutinised for their effect on share prices. Updates on Reliance Jio’s 5G rollout, including subscriber growth and international expansion, are expected to further influence investor sentiment.
In the past five AGMs, Reliance Industries' stock experienced significant movement. The sharpest increase occurred in 2019, with the stock rising 9.7 per cent on AGM day, driven by announcements of Jio's fibre-to-home service and set-top box, along with Mukesh Ambani’s debt-free roadmap. Conversely, in 2020, the stock fell 3.8 per cent on AGM day.
Reliance Industries is a major Indian conglomerate with business verticals spanning petrochemicals, refining, oil, telecommunications, and retail sectors. The company has the biggest market capitalisation in India to the tune of Rs 20.30 trillion.
Its shares are trading at a price to earnings multiple of 50.64 times with an earning per share of Rs 59.16 per share.
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The death toll in the tanker truck collision on Bhankrota Ajmer Road in Jaipur on Saturday rose to 14, as confirmed by DCP West Jaipur, Amit Kumar.
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Shares of Reliance Industries (RIL) hit a 52-week low of Rs 1,210.15, falling 1.7 per cent on the BSE in Friday’s intra-day trade, extending its previous day’s nearly 2 per cent decline. In one week, the stock price of the country’s most valuable company in terms of market capitalisation (market cap) has declined 5 per cent.
RIL has seen market cap erosion of Rs 85,525 crore during the week. In comparison, the BSE Sensex has declined 4.4 per cent during the same period.
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