Reliance Industries' 47th annual general meeting (AGM) is set to be a key moment for investors as chairman Mukesh Ambani prepares to share his vision for the nation's largest conglomerate's future trajectory at 2 PM today (August 29).
It seems to be a rather euphoric week for Reliance, as just a day before, the competition watchdog of the country CCI gave a green light for its mega-deal with Disney Star
Reliance Industries' 47th annual general meeting (AGM) is set to be a key moment for investors as chairman Mukesh Ambani prepares to share his vision for the nation's largest conglomerate's future trajectory at 2 PM today (August 29).
It seems to be a rather euphoric week for Reliance, as just a day before, the competition watchdog of the country Competition Commission of India (CCI) gave a green light for its mega-deal with Disney Star to form the largest media giant in the nation.
At 9:50 am, the shares of the conglomerate were trading at the Rs 2,996 price level and remained largely flat on the National Stock Exchange.
As investors eagerly wait for the annual general meeting, Reliance Industries is expected to bring several developments to the table. From the demerger of its retail arm Reliance Retail to the IPO plans of its telecom segment, Reliance Jio, a lot is anticipated from the meeting.
Back in 2019, the conglomerate stated that it was planning to get both its retail and telecom arm listed on the bourses within the coming 5 years.
Investors are also closely watching Reliance's allocation plans in its energy sector, particularly its ambitious green energy projects. In FY24, the conglomerate had allocated nearly $1 billion as capital expenditure for its solar manufacturing operations.
The other important highlights of the AGM might be the focus on telecom 5G plans. There might be some updates with regards to the succession plan from Mukesh Ambani to his children, Akash, Isha and Anant Ambani.
Avinash Gorakshkar, head of research at Profitmart Securities, reportedly told at a Reliance AGM, “RIL Chairman Mukesh Ambani has a history of making big announcements at Reliance AGM. So, the market expects some concrete blueprint from Reliance AGM on the timeline for listing Reliance Jio IPO and Reliance Retail IPO. So, the market is expecting much more than the mere announcement of the demerger of Reliance Jio and Reliance Retail business from RIL."
Live broadcasting of the event will be available on several audio-visual platforms and through videoconferencing. If you are an investor, you can join using the link given here.