Reliance share
Reliance Share Price: Just after Reliance Industries annual general meeting (AGM), RIL shares fell by 1.90% to the lowest level of Rs 1361.55 in the stock market, while its previous closed price was Rs 1387.65. This decline shows the lack of expectation that investors once again added to AGM.
Reliance has a major event for the AGM stock market, where investors expect new announcements and big announcements. But the fourth consecutive year has happened when investors got disappointed after the company’s AGM.
Four years, four AGM and disappointment every time
For the last four years, only one trend has remained after Reliance’s AGM and that is a decline in shares. The same trend has continued in the 2024 AGM. In this year’s meeting, the company told further business plans such as the goal of doubling the revenue of Jio and Reliance Retail and Ebitda, but no fresh or shocking announcements were made.
RIL shares broke up to about 4.6% in 10 days after the AGM of 2024. At the same time, even after the AGM of 2023 and 2021, the shares had seen a decline of 0.5%, while in 2022 this decline was 0.2%. That is, after the AGM for four consecutive years, the shares of RIL have been bad.
Jio IPO update on timeline
At the AGM held in 2019, Chairman Mukesh Ambani had talked about bringing Jio and retail business to IPO within five years. Investors hoped that some concrete updates would probably get some concrete updates in the 2024 AGM. But this time Mukesh Ambani, while giving updates about Jio IPO, said that Jio is making all preparations to apply for its IPO and our goal is to list Jio by the first half of 2026, provided all the necessary approvals are available.