Vikrant Shekhawat : Aug 06, 2024, 07:00 AM
Reliance Industries: The country's largest company Reliance Industries' Annual General Meeting is going to be held on August 29. The company said in a statement to the exchanges that Reliance Industries Limited (RIL) will convene its 47th Annual General Meeting (AGM) on August 29 at 2 pm. As per the guidelines prescribed by the Ministry of Corporate Affairs and the Securities and Exchange Board of India (SEBI), RIL's AGM will be broadcast live through video conferencing as well as other audio-visual means.Announcing the AGM, RIL said in a market filing that the 47th AGM of the members of the company will be held on Thursday, August 29, 2024 at 2 pm. It will be held through video conferencing (VC) and other audio visual means ("OAVM"), in accordance with the applicable circulars issued by the Ministry of Corporate Affairs and SEBI. The company said that the payment of dividend, if declared at the AGM, will be within one week of the conclusion of the AGM.Big announcements can be madeDuring the AGM, Reliance Industries Chairman Mukesh Ambani will address the shareholders. Investors and industry observers are eagerly waiting for the AGM to get information about the strategic directions and future plans of Reliance Industries. It is expected that Mukesh Ambani can make an announcement regarding Reliance Retail and Jio's IPO. Last year's AGM was held on 28 August, just a week after the listing of Jio Financial Services on India's stock exchanges.Big drop in stockBy the way, a big decline was seen in the stock of Reliance Industries on Monday. According to the data, the stock of Reliance Industries closed at Rs 2894.70 with a loss of 3.46 percent i.e. Rs 103.75. However, during the trading session, the stock of Reliance Industries went down to Rs 2865.80. Due to this decline, the market cap of Reliance Industries has lost Rs 70,195.32 crore. After which the valuation of the company has come down to Rs 19,58,500.25 crore.