Reliance AGM: RIL share price performance on days of annual general meetings in last 10 years

Shares of Reliance Industries were trading higher in Monday's trade, ahead of the oil-to-telecom major's 46th annual general meeting (AGM) at 2 PM. While RIL AGMs are typically marked by announcements of big investments into diversified segments and new growth avenues, data compiled from corporate database AceEquity suggests the stock has closed negatively on such days in seven of the last 10 occasions.

For example, RIL concluded its 45th AGM on August 29 last year. The stock fell 0.84 per cent for the day. In 2021, on the day of its 44th AGM, the scrip was down 2.34 per cent. On July 15, 2020, the scrip fell 3.70 per cent. Reliance Industries shares fell 2.53 per cent on the day of its AGM in 2018, 2.72 per cent in 2016, 2.11 per cent in 2014 and 0.27 per cent in 2013.

Three occasions when RIL shares gained following AGM announcements were 2019 (up 9.72 per cent), 2017 (3.76 per cent) and 2015 (1.36 per cent)

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The 2019 AGM was an exception. The RIL AGM held on August 12 that year, which was a market holiday on account of Bakri Id. The scrip surged the very next day, thanks to a Reliance's road map to becoming a zero-debt company and a mega announcement of Saudi Aramco's 20 per cent investment in RIL's oil-to-chemical business. The worst AGM day for the stock in 2020, when the scrip fell 3.71 per cent despite announcements of Rs 33,737 crore Google deal and make-in India 5G offerings, among others.

Reliance Industries shares are down 2 per cent in the last one month.

JM Financial expects investors to keenly follow updates on potential timeline for listing of retail and digital businesses and any potential strategic stake sale in O2C business. It said investors would eye progress of various projects underway in Clean Energy business with timelines around project commissioning and potential earning potential from such projects. It also sees launch of affordable 5G smartphones along with attractive 5G tariff plans and further updates around succession plans.

Reliance Jio is likely to launch Jio 5G smartphones in India, recent media reports suggested. After the demerger of Jio Financial Services from RIL, the market is expecting some concrete announcements in regard to Reliance Retail IPO and Reliance Jio IPO, said Arihant Capital adding that the launch of 5G devices at a reasonable price and updates on succession from the company is also expected.

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