Reliance Industries' share price started this week's trading session on a strong note on Monday, gaining at least 1.5% and nearing the Rs 1,390 level. The stock is closing the gap towards Rs 1,400 mark. One of the key triggers for Reliance stock is its upcoming 48th Annual General Meeting (AGM), scheduled for August 29. Investors will eye the announcement related to the Jio IPO.
Reliance Industries AGM Expectations:
Will Reliance Announce Jio IPO On August 29?
According to Nuvama experts, the market is awaiting indications of timelines for Reliance's JIO and Retail IPOs. The brokerage believes that if the two companies are listed separately, they will attract high values but may not materially impact RIL shareholders, as it may be offset by a holdco discount.
"Progress on doubling of JIO and Retail EBITDA in the next three-four years-as indicated at the last AGM-is keenly awaited. Upon streamlining, growth in its Retail business remains crucial for investors. An update on Jio Hotstar monetisation and FMCG expansion is awaited," said Nuvama's note.
The Reliance Jio IPO is much-awaited in India. As per reports, the majority are predicting a Reliance Jio IPO in the second half of 2025.
Further reports even stated that the Reliance Jio IPO could have a size of Rs 52,000 to Rs 53,000, which will make the company the mother of all IPOs in India. At present, Hyunday holds the title of the biggest-ever IPO in the country, with a size of Rs 27,870.16 crore, followed by LIC.
Reliance Industries Share Price:
After market hours of August 11, Reliance stock closed at Rs 1386.80 apiece, up by 1.4% on BSE with market cap of Rs 18,76,683.30 crore. Overall, the oil and gas stock zoomed by 1.5% and touched an intraday high of Rs 1388.20 apiece during the trading hours.
The stock's 52-week high and low are at Rs 1,551 apiece and Rs 1,115.55 apiece, respectively.
YTD, Reliance stock has a return on equity of 8.69%.
Reliance Industries Dividend Record Date:
A day before the Independence Day celebration, the Reliance Industries stock price will turn ex-dividend on August 14. This is also the record date for the purpose of determining the members eligible to receive dividends for the financial year 2024-25.
In its filing, Reliance said that the dividend, if declared at the AGM, will be paid within a week from the conclusion of the AGM, as per the filing.
This will become Reliance Industries' first dividend after its big 1:1 bonus issue. So far, Reliance has delivered up to 3 bonuses. All three bonus issue ratios are 1:1 each, and their ex-dates are in November 2009, September 2017, and October 2024.
Should You Buy Reliance Stock?
Overall, in the upcoming AGM, watch out for : i) Commentary on its target to double the overall business by 2030, doubling of JIO and Retail in three-four years and New Energy (NE) replicating O2C earnings. ii) NE ecosystem comprising polysilicon-to-modules, GH2 production, electrolyser and battery manufacturing; use of captive green power to slash cost by 25%. iii) JIO, Retail IPO timelines; we argue this might trigger higher value, but is likely to be offset by holdco discount for RIL investors. iv) Growth in Retail post-reshuffle; updates on Jio Hotstar, FMCG expansion. v) Progress on massive petchem expansion, as per Nuvama's note.
That being said, Nuvama recommended BUY for a target price of Rs 1,733.
Disclaimer: The recommendations made above are by market analysts and are not advised by either the author, nor Greynium Information Technologies. The author, nor the brokerage firm nor Greynium would be liable for any losses caused as a result of decisions based on this write-up. Goodreturns.in advises users to consult with certified experts before making any investment decision.
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