Reliance share price volatile ahead of AGM; investors expect updates on Reliance Retail, Jio IPOs
₹2,474 against the previous close of ₹2,469.95 and quickly rose 0.32 per cent to ₹2,477.75. However, the stock soon slipped into the red, falling 0.3 per cent. Around 9:50 am, the stock was up 0.19 per cent at ₹2,474.70 on BSE.
The stock has underperformed the equity benchmark Sensex this year so far. Shares of Reliance Industries are down 3 per cent in the current calendar year so far (till August 25) while the Sensex is up almost 7 per cent for the period. The stock hit its 52-week high of ₹2,635.17 on July 19, 2023, on BSE and its 52-week low of ₹2,012.14 on March 20, 2023.
As of the August 25 close, the stock is down about 6 per cent from its 52-week high level. The 46th Annual General Meeting of Mukesh Ambani's Reliance Industries will be conducted on Monday at 2 pm through Video Conferencing and Other Audio-Visual Means. Investors can log in to the link provided by the company - https://jiomeet.jio.com/rilagm/ Read more: Reliance AGM 2023 LIVE Updates: Jio AirFiber launch to Reliance Jio IPO, what to expect from Mukesh Ambani-led RIL According to analysts, after the demerger of JFSL from RIL, the market is expecting some concrete announcements in regard to Reliance Retail IPO and Reliance Jio IPO.
Moreover, the launch of 5G devices at a reasonable price and some announcement regarding the succession from the company is also expected. Apart from this, information in regard to the fundamentals of Jio Financial Services Ltd is also expected in the upcoming Reliance AGM 2023. Prashanth Tapse, Senior VP of Research at Mehta Equities underscored that all eyes would be on RIL AGM and its announcement focusing on Jio Financial's future outlook post-demerger and other high hopes on Future Retail IPO, Reliance Jio IPO and
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