Reliance Industries Limited, the largest company by market capitalisation in India, will hold its 44th annual general meeting (AGM) on June 24. Reliance’s annual shareholder meeting has been closely followed by both the investors and consumers over the decades."RIL’s Annual General Meeting (AGM) has historically been a keenly watched event (previously attended by 3,000 shareholders when held in physical format and last year saw 300,000 concurrent viewers of the virtual AGM across 42 countries and 468 cities) given that it has been one of the top three companies by market capitalisation in India, has a large free float and a large public shareholding (more than 3 million non-institutional shareholders)," brokerage HSBC Global Research said in a report, according to PTI. This year is going to be no different.
The oil-to-chemical conglomerate is likely to make several announcements across its telecom, retail and O2C business during its 44th AGM. All eyes are on the new 5G smartphone that is expected to be launched on June 24, according to reports.
During the last AGM, Mukesh Ambani, chairman of Reliance Industries said, “Jio has developed a complete 5G solution from scratch that will enable us to launch a world-class 5G service in India.” For 5G service, Reliance Jio promised 100 per cent homegrown technologies and solutions.
“This Made-in-India 5G solution will be ready for trials as soon as 5G spectrum is available… and can be ready for field deployment next year," Ambani said during last AGM. “Once Jio’s 5G solution is proven at India-scale, Jio Platforms would be well-positioned to be an exporter of 5G solutions to other telecom operators globally, as a complete managed service," he added.
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Reliance Industries is also expected to launch a new affordable laptop — Jio Book laptop during the event. “RIL may introduce a new affordable laptop to tap into the massive demand for work from home machines," HSBC Global Research mentioned in the report.
The company has earlier fixed June 14 as record date for dividend for FY2021. The dividend will be paid within a week from the conclusion of the AGM if it is declared during the event, the company said.