Mukesh Ambani-led Reliance Industries (RIL) will hold its 44th Annual General Meeting (AGM) on June 24, at 14 hours IST. The event is closely watched by Dalal Street and this time is expected to be no different.
RIL, which has a track record of meeting its target ahead of deadlines, is expected to make announcements across its telecom, retail and O2C business.
"In the upcoming AGM, Reliance is likely to announce kickstarting 5G services which might begin in late 2021. Moreover, 5G phones are likely to be revealed in the AGM which might be another interesting development to watch out for," Gaurav Garg, Head of Research at CapitalVia Global Research told Moneycontrol.
In the last AGM, Chairman Mukesh Ambani said Jio designed and developed a complete 5G solution from scratch, enabling the company to launch a world-class 5G service in India, using 100 percent homegrown technologies and solutions.
"This Made-in-India 5G solution will be ready for trials as soon as 5G spectrum is available… and can be ready for field deployment next year. And because of JIO's converged, all-IPnetwork architecture… we can easily upgrade our 4G network to 5G," Ambani said.
"Once Jio's 5G solution is proven at India-scale, Jio Platforms would be well-positioned to be an exporter of 5G solutions to other telecom operators globally, as a complete managed service," he added.
"We believe we can design entry-level 4 or even 5G smartphone for a fraction of its current cost. Through the partnership with Google, we are confident that we can accelerate the national mission of putting a smart device in the hands of every Indian."
According to Gaurav Garg, JioBook, the low-cost laptops, is another attraction that might lure investors.
Garg said announcement over dividend declaration and bonus can also be expected in this AGM.
"Reliance likes to keep the market price of shares around Rs 1,000 so we might get to see 1:1 bonus announcement," he said.
Earlier this month, Reliance Industries fixed June 14, 2021, as the record date for the purpose of determining the members eligible to receive the dividend for the financial year 2020-21.
The dividend, if declared at the AGM, will be paid within a week from the conclusion of the AGM, the company said.
Further, Gaurav Garg feels specific announcements are expected on the progress of Saudi Aramco deal in O2C business as well as Future Retail merger in the retail space.
The stock of RIL has rallied 12.1 percent so far in 2021. In the last 12 months, it has climbed 34.4 percent.
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