Reliance Industries AGM: Last Date For E-Voting Nears; What To Expect On August 29? Rs 1,650 TP On RIL By CLSA

Reliance Industries (RIL) share price is in focus since the start of this week due to its upcoming annual general meeting (AGM), which is scheduled on August 29. However, on August 26, Reliance stock traded in deep red due to a bearish market and was below the Rs 1,400 mark. There is a buy-on-dips opportunity, as global brokerage CLSA has continued to stay OUTPERFORM on Reliance.

Reliance Industries Share Price:

At the time of writing, Reliance Industries traded at Rs 1395 apiece on BSE, down by 1.3% with a market cap of Rs 18,88,388.89 crore. The stock was near its intraday low of Rs 1,393 apiece.

Reliance Industries AGM Expectation:

According to global brokerage Reliance, its FY25 annual report highlighted its accelerated home connection adoptions driven by AirFiber, making it confident of reaching 100m homes through a combination of Fiber and AirFiber. Any hints on the timeline for Jio's IPO and further details on its AI strategy in the AGM will be closely tracked by investors.

The 48th AGM will be announced on August 29.

Reliance Industries Dividend:

On August 29, one of the much-awaited developments is Reliance's proposal for dividend payout. 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.

The record date for the upcoming dividend has passed. The company fixed August 14 as the record date to determine eligible shareholders for the dividend ahead. This means that if on August 29, there is a dividend announcement, only those shareholders will be eligible who held RIL shares as of August 14, 2025. New shareholders from August 15 will not be eligible.

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.

Reliance Industries AGM E-Voting:

Reliance has opened the facility for its members to exercise their right to vote on resolutions proposed to be passed at AGM by electronic means ("e-voting"). Members may cast their votes remotely on the dates mentioned. The Company has engaged the services of KFinTech as the agency to provide the e-voting facility, as per the filing.

In its filing, Reliance said, "Only a person, whose name is recorded as on the Cut-off Date, i.e., Friday, August 22, 2025, in the register of members/ register of beneficial owners maintained by the Depositories, shall be entitled to avail the facility of remote &-voting or voting through lnsta Poll."

Once the eligible investors are identified, the e-voting facility will begin on August 24 and end on August 28.

BUY OR SELL Reliance Industries Shares?

"The FY25 annual report of key digital services operating subsidiary, Reliance Jio Infocomm revealed that a 15% YoY jump in Ebitda coupled with a moderation in capex led to a ~3x jump in FCF. We estimate US$1.2bn of opex was capitalised," CLSA said.

Further, the brokerage added, "This plus another US$1.2bn of interest capitalised, indicates higher cost expensing in coming year. Encouragingly, this indicates core-capex falling below US$2bn. External revenue of Jio Platform rising to ~US$0.3bn suggests positive momentum in enterprise business. Reliance's annual report highlights ramp-up of home connections led by AirFiber and its JioBrain AI offerings as key focus areas for Jio."

Accordingly, CLSA has maintained OUTPERFORM rating on Reliance with target price of Rs 1,650.

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.