The 47th Annual General Meeting (Reliance AGM) of the country’s most valuable company Reliance Industries is going to be held today. Mukesh Ambani can make many big announcements during this meeting. Among these, the company’s 33.71 lakh retail investors are eyeing the announcement regarding the IPO of two Reliance Group companies Reliance Jio and Reliance Retail. Reliance Chairman can clear the picture regarding the issue of both the companies. Apart from this, there are many other important issues, about which information can be given in the AGM.
There were indications of bringing IPO in 2019
The Annual General Meeting (Reliance AGM 2024) of Mukesh Ambani-led Reliance Industries Limited will begin at 2 pm today. In this, the Reliance Chairman can announce the IPO of his two companies Reliance Jio or Reliance Retail, which investors have been waiting for a long time. In fact, during the Annual General Meeting in the year 2019, Mukesh Ambani had indicated that the listing of these two companies in the stock market could happen in five years. In such a situation, it is expected that the picture may be clear about it today.
Focus from new energy to 5G
Along with the IPO of both the companies, the important issues that are being watched in Reliance’s 47th AGM are expected to include an announcement on the sale of a possible strategic stake in Reliance’s oil-to-chemical (O2C) business. Apart from this, updates related to projects in the new energy sector can be shared. After the IPO, the most important announcement can be made regarding Reliance Jio’s 5G service. According to reports, the company can also share details about the expansion of 5G Network. At present, big tech companies around the world are investing in AI, so Reliance can also make an announcement regarding AI.
Apart from this, last year Mukesh Ambani divided the business among his three children and gave the role of non-executive director to Isha Ambani, Akash Ambani and Anant Ambani in the Reliance Board. In this AGM, investors will also keep an eye on any change in their responsibilities or additional role given to them.
Reliance stock situation before AGM
Reliance shares opened flat on Thursday, the fourth trading day of the week before the 47th AGM. With the start of trading in the stock market, it opened at the level of Rs 3006.20. The market capitalization of the company is Rs 20.27 lakh crore, which makes it the most valuable company in the country. The impact of the announcements to be made in the AGM can be seen on the company’s shares.
Let us tell you that the 52-week high level of Reliance stock is Rs 3217.60, while its 52-week low level is Rs 220.30. If we look at the performance of the company’s stock this year, it has risen by more than 15 percent. On January 1, 2024, the price of Reliance share was Rs 2590.25.
(Note- Before making any investment in the stock market, please consult your market experts.)
Source (PTI) (NDTV) (HINDUSTANTIMES)