Reliance AGM 2024 Dwell Updates: Mukesh Ambani To Tackle Traders At 2:00 P.M.

Competitors Watchdog Clears Reliance, Disney Merger Forward Of RIL AGM

The Competitors Fee of India on Wednesday permitted Reliance Industries Ltd.’s $8.5-billion merger of Viacom18 Media Pvt., Digital18 Media Ltd., Star India Pvt. and Star Tv Productions Ltd.

Publish the merger, Star India will change into a three way partnership, held by Reliance Industries, Viacom18 and present TWDC subsidiaries. The CCI made the announcement on social media platform X.

In February this 12 months, international media giants Walt Disney Co. and Reliance Industries Ltd. introduced the signing of binding pacts to merge their media operations in India to create a Rs 70,000 crore behemoth.

RIL AGM 2024: How Inventory Has Carried out In Final 10 Meets  

Because the oil-to-telecom conglomerate nears 50 years post-listing, information reveals shares of the flagship firm have declined on most AGM days.

Within the final 10 such conferences, the scrip has declined in seven situations with the counter plunging as a lot as 6.2% in its 2020 meet. Within the final annual common meet on Aug. 28, 2023, its shares declined as a lot as 1.51% in the course of the day and pared losses to shut 1% decrease.

Within the week forward and after the AGM, the inventory has posted a blended image. 5 instances the counter fell in per week forward of the important thing meet, whereas eight instances the inventory inclined positively after the AGM. In three such situations, the scrip gained over 8% within the week after the assembly.

Reliance AGM 2024: Mukesh Ambani To Tackle Traders At 2:00 P.M.

The annual common assembly of Reliance Industries Ltd. would be the key spotlight right this moment as traders anticipate the conglomerate to trace at its future plans. Mukesh Ambani led-RIL will conduct its forty seventh AGM on Aug. 29 at 2:00 p.m. IST, in line with the corporate’s assertion.

However right this moment’s assembly could not convey a lot cheer to the road because the anticipated announcement of the itemizing timeline for the patron companies—Reliance Retail Ltd. and Reliance Jio Infocomm Ltd.—could get prolonged.

Chairman Mukesh Ambani had indicated 5 years in the past on the potential unlocking of shareholder worth by itemizing of the 2 client companies. However brokerage BofA Securities doesn’t anticipate any main worth unlocking announcement on this AGM.

The market was disillusioned within the final three AGMs, given the absence of any main bulletins. The road is constructing little expectation going into the AGM on Aug. 29.

. Learn extra on Enterprise Information by NDTV Revenue.