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19 Nov 2024
Reliance Industries (RIL) will hold its 47th Annual General Meeting (AGM) on Thursday, August 29, 2024, at 2 PM IST. Analysts expect a range of significant announcements, given the company's past performance and recent developments across its business segments.
Investors will be keenly observing detailed plans for the Rs 75,000 crore investment in renewable energy announced in previous AGMs. Updates on project timelines, partnerships, and progress toward sustainability could impact the stock price, according to Vikas Sethi, Managing Director of Sethi Finmart.
The anticipated IPOs of Reliance Retail and Jio Platforms will also be a major topic. Any news regarding pricing, timelines, and investor interest could boost stock prices. Sethi anticipates that one of these IPOs might occur before the fiscal year ends.
Plans to reduce RIL's debt through potential sales or monetization of its oil-to-chemical business will be closely watched. Strong financial performance and debt reduction could enhance investor confidence and raise the stock price.
Sonam Srivastava, Founder and Fund Manager at Wright Research, notes that updates on Reliance Jio’s 5G rollout, including subscriber growth, revenue strategies, and international expansion, could make the stock more appealing.
Analysts predict that significant announcements at the AGM could lead to a positive market reaction. Sethi suggests that if RIL announces a timeline for demerging and listing its retail or telecom business, the share price might see a substantial increase. If the telecom business is listed as a new-age entity, it could be valued much higher than its oil-to-chemical counterpart.
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