RIL AGM 2023: Reliance Stock Near Day's High Ahead Of 46th AGM, All Eyes On Mukesh Ambani

India's largest company, Reliance Industries (RIL) will announce its 46th annual general meeting (AGM) on Monday. In the early trade, the heavyweight stock witnessed a volatile start on BSE, however, currently is performing near its day's high of Rs 2483 apiece. Experts said that the company's AGM is among the key triggers for sentiments in markets. RIL's chief Mukesh Ambani and his speech at the AGM will be in the limelight.

At the time of writing, RIL's share price traded at Rs 2,482.4 apiece, up by nearly 0.5% on BSE. The stock was near its intraday high of Rs 2483.00 apiece. Its market cap is currently over Rs 16.74 lakh crore.

The stock stood at Rs 2469.95 apiece on BSE on Friday last week.

The AGM will take place virtually and citizens across the country can view it. It will be held through Video Conferencing ("VC") / Other Audio-Visual Means ("OAVM") from 2 PM (IST) onwards on Monday. At the AGM, RIL's Chairman & Managing Director Mukesh D Ambani will be giving his speech.

Among key expectations from Ambani in this AGM would be updates on IPO timelines for their telecommunications and retail businesses. The reason why investors expect a timeline on IPOs is because, in the AGM for 2019, the Ambani-backed conglomerate announced it to take its telco and retail business for public listing in the next five years. Since then, four years are already behind, and investors believe key announcements regards to this on Monday are most likely.

Also, last week, a report stated that is planning to sell a further 8-10% in Reliance Retail Ventures to retire debt, fund expansion and prepare for market debut. Therefore, some key updates on the listing of the retail arm from Ambani are expected.

Further, in regards to updates on the 5G rollout, one of the most anticipated deals is with Netflix on prepaid bundled recharges, as per reports.

For the newly demerged business Jio Financial Services, whose stock price has been battered since listing last week, an investor-friendly announcement on the NBFC is expected from Ambani.

Also, any potential strategic stake sale in the O2C business; progress of various projects underway in the Clean Energy business along with timelines, and any further update around succession plans are some of the other key decisions expected.