Reliance AGM: From 5G smartphone to JioMart expansion, here are key expectations
Reliance Industries stock fell nearly 1 percent, a day ahead of its AGM scheduled for June 24. As investors are eagerly awaiting major announcements from the oil to chemicals business, shareholders will be watching out for more clarity on the progress and timing of inducting of new strategic investors and stake sale. CNBC-TV18's Sonal Bhutra, Reema Tendulkar and Mangalam Maloo share more details.
Reliance Industries stock fell nearly 1 percent, a day ahead of its AGM scheduled for June 24. As investors are eagerly awaiting major announcements from the oil to chemicals business, shareholders will be watching out for more clarity on the progress and timing of inducting of new strategic investors and stake sale.
Reports suggest that Aramco Chairman, Yasir Al-Rumayyan may be included on Reliance's board at the AGM. According to JPMorgan, any such steps would be positive for the company.
Another major announcement is expected on the launch of Jio's entry-level 5G android smartphone phone, something that Chairman and Managing Director Mukesh Ambani alluded to in the last AGM in collaboration with Google.
Reports suggest that this 5G smartphone could be the cheapest with a sub-Rs 5,000 pricing. However, supply of the device could be limited in the initial phase due to supply chain issues.
The company is also expected to provide an update on its 5G readiness.
Reliance Retail continued to expand in the pandemic year and now has 5 million sq ft retail space having added 927 stores across the country.
Key triggers to watch out for will be a wider roll out of JioMart and tie-ups with Kirana stores.
CNBC-TV18's Sonal Bhutra, Reema Tendulkar and Mangalam Maloo share more details.
Watch the video for more.
Disclaimer: Network18, the parent company of CNBCTV18.com, is controlled by Independent Media Trust, of which Reliance Industries is the sole beneficiary.
Disclosure: RIL, the promoter of Reliance Jio, also controls Network18, the parent company of CNBCTV18.com.
(Edited by : Jerome Anthony)
First Published: Jun 23, 2021 7:19 PM IST
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