Reliance Stocks Have Fallen Six Times on the Day of the Company’s AGM in the Last Ten Years
In last ten years, shares of RIL saw mixed trends on the day of the company’s AGM, reacting to the company’s announcements, falling on six occasions, while rising on the rest AGM days.
On the AGM day of 2019, the stock surged almost 10 percent. The stock has seen a gain of 27 percent on BSE in one year (since June 22, 2020) against a 51 percent rise in benchmark Sensex. In the calendar year 2021 so far, RIL’s stock is up 12 percent against a 10 percent rise in Sensex.
Experts Expect Announcements Across Telecom, Retail and O2C Businesses
“In the upcoming AGM, Reliance is likely to announce kickstarting of 5G services which might begin in late 2021. Moreover, 5G phones are likely to be revealed in the AGM which might be another interesting development to watch out for,” Gaurav Garg, Head of Research at CapitalVia Global Research told Moneycontrol As per global brokerage firm Goldman Sachs, updates around telecom tariff hikes, new product launches with Google, Facebook and Microsoft and potential value unlocking from a proposed energy business stake sale are expected.
Now have a Strong Balance-Sheet with High Liquidity: Ambani#
“We now have a strong balance-sheet with high liquidity that will support growth plans for our three hyper-growth engines – Jio, Retail and O2C,” Mukesh Ambani said in a statement to the shareholders of RIL in its annual report for FY20-21.
RIL AGM has Historically Been a Keenly Watched Event: HSBC Global Research
“RIL’s Annual General Meeting (AGM) has historically been a keenly watched event (last year saw 300,000 concurrent viewers of the virtual AGM across 42 countries and 468 cities) given that it has been one of the top three companies by market capitalisation in India, has a large free float and a large public shareholding (more than 3 million non-institutional shareholders),” brokerage HSBC Global Research said in a report.
Reliance Industries: A Look at Past AGMs
Reliance Industries, the company that is widely credited with having launched the equity culture in India, held AGMs in stadiums during times of its founder Dhirubhai Ambani. In 1985, at least 12,000 people attended the Reliance AGM at the Cooperage Football Ground in Mumbai’s Colaba. The next year, around 35,000 attended it at the Cross Maidan. Over the years, the AGMs got shifted to auditoriums even as its shareholder base swelled to over 24 lakh, CNBC reported.
RIL 44th AGM Today
Reliance Industries Limited (RIL) will be holding its 44th annual general meeting (AGM) on June 24 at 2 pm through video conferencing and other audio visual means (OAVM). It will be streamed live on JioMeet and users can register for the event on jiomeet.jio.com/rilagm/joinmeeting.