Reliance Industries shares rallied nearly 4 percent in morning trade Friday to hit fresh 9-year high of Rs 1,587.7 ahead of its much awaited 40th Annual General Meeting that is scheduled to begin at 11 am.
Also Check Out: Reliance AGM Live
While maintaining positive stance on the stock and expecting it to rise up to 17 percent, majority of brokerage houses expect the key focus in the Reliance's AGM will be Jio followed by petrochemical and refining businesses.
Goldman Sachs
According to the research house, key focus points for the AGM would be segment wise capex expenditure in Q1FY18 and guidance for FY18.
Update on the timelines of new projects on core refining and petchem segment will also key to watch out for.
JP Morgan
The financial firm expects more clarity in AGM on new plans in telecom including launch of feature phones and new projects if any in Fiber to Home.
Bank of America Merrill Lynch
The stock rallied 12 percent month-to-date in anticipation of launch of low-cost VOLTE feature phone in AGM and gradual increase in implied tariffs.
According the research house, the focus would be on Jio and pdates on chemical projects.
At 10:20 hours IST, the stock price was quoting at Rs 1,583.50, up Rs 54.80, or 3.58 percent on the BSE.
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