Reliance AGM 2023 date has been fixed on 28th August 2023 i.e. on Monday next week. Both Indian stock market experts and investors are eagerly waiting for the 46th AGM (Annual General Meeting) of Reliance Industries Ltd (RIL) as the Sensex heavy weight is expected to unveil its business blueprint for future. According to market experts, after demerger of Jio Financial Services Ltd (JFSL) from RIL, market is expecting some concrete announcement in regard to Future Retail IPO and Reliance Jio IPO. They said that launch of 5G devices at reasonable price and some succession from the company in this regard is also expected. Apart from this. some information in regard to the fundamentals of Jio Financial Services Ltd is also expected in upcoming Reliance AGM 2023.
Speaking on possible outcomes that one can expect from Reliance AGM 2023 scheduled on Monday next week, Aamar Deo Singh, Head Advisory at Angel One said, “Markets and investors have long viewed Reliance’s annual general meetings as a chance for the firm to lay out its future strategy. This time is no exception. Investors eagerly anticipate the 46th AGM on August 28 with a focus on the timelines for a Reliance Retail business IPO, updates on digital initiatives, advancement of its numerous Clean Energy projects & any additional information on Jio Financial Services (JFS).”
The Angel One expert went on to add that markets will also be watching the launch information for the reasonably priced 5G devices, as well as the attractive 5G tariff options and any additional updates regarding the succession plans.
Value unlocking after Jio Financial Services
Expecting some strong and concrete announcement in regard to value unlocking, Saurabh Jain, Vice President — Research at SMC Global Securities said, “After demerger of Jio Financial Services Ltd, market is eagerly awaiting some more value unlocking steps like Future Retail IPO and Reliance Jio IPO. If not any concrete announcement then a hint on possible launch of these two much awaited IPOs are also expected from RIL AGM 2023. Apart from this, some concrete information about Jio Financial Services after JFSL share listing is also on the radar of markets.”
Also read: RIL AGM 2023: Check Date, time, where to watch Reliance Industries 46th Annual General Meeting
Reliance AGM 2023: Top 5 expectations
So, market is expecting these five major announcements from the Reliance AGM 2023 — Future Retail IPO, Reliance Jio IPO, information about Jio Financial Services, launch of 5G devices at reasonable price and succession plans in near term.
Reliance share price outlook
On whether one should buy Reliance shares ahead of AGM, Pravesh Gour, Senior Technical Analyst at Swastika Investmart said, “After the breakout of the long trend line and triangle pattern formation on the longer timeframe, Reliance share price has shown profit booking from the higher levels. Now it has retested its previous breakout levels at around ₹2420. The structure of the counter is still lucrative for long-term investors as it is trading above its important moving averages (100 and 200 DMA). MACD (moving average convergence divergence) supports the current strength, whereas the momentum indicator RSI (relative strength index) is also positively poised. On the upside, ₹2550 is an immediate hurdle; above this, we can expect a move towards ₹2630. On the downside, ₹2420 is a strong demand zone during any correction.”
Disclaimer: The views and recommendations made above are those of individual analysts or broking companies, and not of Mint. We advise investors to check with certified experts before taking any investment decisions.
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Updated: 26 Aug 2023, 08:56 AM IST
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