The 44 annual meeting (AGM) of the country’s largest company Reliance Industries will be held on 24 at 2 p.m. All eyes will be on the announcement of the company. The main focus can be found with telecom, retail, the start of 5G services and the launch date of 5G phones.
Information can also be found on gas and petroleum.
It is believed that the company’s chairman Mukesh Ambani can give information about petroleum along with oil and gas. Saudi Arabian company Aramco is buying a 20 % stake in Reliance Industries. Till now, this deal is stuck. It is believed that some update may come on this. Although the main focus will be on 5G itself. The company aims to launch 5G service by the end of this year. Similarly, plans to make 5G phones can also be discussed with Google.
The company can increase the prices of telecom.
Goldman Sachs anticipates that tomorrow’s AGM may also see an increase in telecom prices, along with Google, Facebook and Microsoft launching new products. This announcement will be watched by the world’s leading investors. In fact, compared to last September, the company’s stock is still trading at a lower price than it. In September it was at Rs 2368, which is currently trading at Rs 2222. However, till a month ago, it was trading at Rs 1950.
Last year was an investment in Jio.
A total of Rs 1.52 lakh crore was invested in Reliance’s telecom company Reliance Jio last year. This investment was done by companies like Microsoft, Google, Facebook, Vista, General Atlantic, Qualcomm, Silverlake. In this, Google had invested the highest amount of 37 thousand crores.
Shares in most AGMs have lost.
The figures show that if we talk about the last 10 AGMs, out of this, 6 AGMs have been such, on which the company’s shares have fallen. Its shares have been rising in just 4 AGMs. Its stock had risen 10% in the 2019 AGM. This AGM took place in August. In this AGM, the deal with Saudi Aramco and the launch of Jio’s IoT platform, Jio Fiber etc. were announced. At the same time, the company had also received investment from abroad.