RIL share price ends over a per cent lower after AGM
Reliance Industries' (RIL) share price ended as the top loser in the Sensex index after the company's 46th Annual General Meeting (AGM) on Monday. The stock closed 1.11 per cent down at ₹2,442.55 on BSE. With this, the stock is now up just about 3 per cent in the last one year against a 12 per cent gain in the equity benchmark Sensex.
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 28 close, the stock is down about 7 per cent from its 52-week high level. In his speech, the Chairman and Managing Director of Reliance Industries revealed the company's plan to expand the business in technology, retail and financial space.
Reliance Industries Limited (RIL) 46th Annual General Meeting saw some major technology announcements. RIL Chairman Mukesh Ambani called the company ‘New Reliance’ which will be a new age-technology-driven company with distinctive capabilities. Read more: Reliance AGM 2023: From Jio True5G to Jio Smart Home Services, here are key technology announcements However, he did not reveal any plans of IPOs for Reliance Retail and Reliance Jio which the market was expecting.
However, talking about the recently demerged financial entity, Ambani said Jio Financial Services will enter the insurance segment. Read more: Reliance AGM 2023 LIVE Updates: Shall perform duties as CMD of Reliance Industries for 5 more years: Mukesh Ambani "The AGM held by Reliance was largely uneventful for the market. The key highlight was the succession plan.
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