What to expect from Reliance AGM today: Mehta Equities

Reliance Industries will hold its 37th Annual General Meeting (AGM) today at 11 am. Mehta Equities feels that Mukesh Ambani may announce a full fledged play in financial services, including the intention of starting a bank, large commitments towards a NBFC and private equity.

The research firm has recommended investors to accumulate the stock at lower levels. The report says, "We believe the decline in gas production from D-1& D-3 fields for at least another 3yrs, the revenue in the coming quarters will be under pressure. Revenue figs. with other capex plans will get halted resulting unabsorbed operational cost putting pressure on EBIDTA for coming quarters. The only goods news for now is from