Reliance Inds AGM at 2 pm: Anil Singhvi says announcement on 5G roll-out, oil and gas business and restructuring on the cards
As the Reliance Industries annual general meeting is scheduled today, Zee Business Managing Editor in a special edition of Editors Take said a major announcement could be made on the 5G roll-out and the companys preparedness and readiness regarding the same.
As the Reliance Industries annual general meeting is scheduled today, Zee Business Managing Editor in a special edition of 'Editor’s Take' said a major announcement could be made on the 5G roll-out and the company’s preparedness and readiness regarding the same.
Generally, the market always stays bullish on RIL stock ahead of AGM and hopes for some ig declaration during the meeting, which may impact of the share price of the company, Singhvi says.
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As the speculation on the ripe that the company may come out with big declaration related to oil and gas business and foreign oil and gas company may come on the Reliance’s board, the market guru explains what could happen in the AGM today.
He adds, perhaps there may be stake sale in the oil and gas segment of the company, the way they did it for its telecom and digital business Reliance Jio last year.
Speculations aside, Singhvi believes, the oil-to-telecom business company may make big revelations related to the 5G rollout and likely lay out their plan with respect to preparedness and readiness for the new generation of the spectrum, along with the other business developments of the company.
He adds, the 5G roll-out decision would be the most concrete topic of this year’s AGM today.
Besides, the company may also do a restructuring of its businesses with respect to value unlocking as speculated, especially in the oil and gas and retail segment, Singhvi points out.
He expects, the market won’t be disappointed with Reliance’s AGM today rather there will be a surprise perhaps to the same.
The market guru explains that at the time when the market is trading around life high levels, it will need RIL’s support being an index heavyweight to surge further and possibly this AGM will be a trigger.
On the other hand, it’s derivative expiry today, so we need to wait and watch how the market reacts to these two factors during today’s trade, he adds mentioning the reasons that would drive the market today.
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