How did the Reliance stock perform on AGM day over the past 5 years
The Annual General Meeting (AGM) of Reliance Industries Limited (RIL) is one of the most followed events in the business community. The event not only highlights the company’s performance over the past year, but also highlights its plans for the future.
Investors also bet big on Reliance’s AGM to gain a deep understanding of the finances used by the business.
Several key initiatives are expected to be announced by RIL Chairman Mukesh Ambani, including a potential sale of a 20% stake to Saudi Aramco in the company’s petroleum-chemicals business (the deal is expected to be worth $ 75 billion. dollars) and the highly anticipated 5G deployment plan.
Also Read: Will Aramco Chairman Join RIL Board of Directors? Decision expected at today’s AGM
As Reliance’s AGM day approaches, markets are starting to monitor the RIL stock price, which is responding to the announcement.
“Over the past 10 years, in the week and month following the AGM, the stock has outperformed the Nifty 6/10 and 7/10 times, potentially implying that the speech (AGM) has succeeded in give more confidence to the consensus, “HSBC said in its report, adding that over the past 10 years it has seen an average 140% increase in the value of transactions on the day of the AGM over the volume traded a month ago.
Over the past 10 years, the RIL share price has fallen six times and increased the other four.
In 2020, the AGM was held on July 15 where Mukesh Ambani announced an agreement with Saudi Aramco, a partnership with Google in Jio platforms, the expansion of Jio Mart and the goal of making RIL carbon-free. by 2035. On that day, RIL’s stock fell 3.71%.
In 2019, the company’s shares jumped nearly 10% following Ambani’s announcement of ₹3.5 lakh crore to create digital infrastructure across India and commercial launch of JioFiber.
Announcements made in 2018 saw the company’s shares drop 2.53%. In 2017, values were green (+ 3.76%) on the day of the AGM.
In 2016, RIL shares fell 2.73% on the day of the GA.