Reliance Industries To Hold Its 46th Annual General Meeting On August 28

Mukesh Ambani-led Reliance Industries (RIL) has announced that it will hold its 46th annual general meeting (AGM) with the shareholders on August 28, the company said in a notice to exchange houses.

RIL has set August 21 as the record date to determine eligible shareholders for payment of dividend. The conglomerate had announced a dividend of Rs 9 per share to shareholders while releasing its June quarter earnings.

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RIL chairman Mukesh Ambani will make key announcements related to growth and expansions of the company in the 46th AGM. Investors, this time, are more keen to know the listing date of Jio Financial Services.

RIL completed the demerger of its financial services business into Reliance Strategic Investments last month and renamed the company Jio Financial Services.

Jio Financial Services has made a temporary entry into key indices of exchanges, including the Sensex and Nifty 50 at a constant price and will remain until it gets officially listed.

Ambani is also likely to share growth plans for the financial services business following its tie-up with the world’s largest asset manager, BlackRock.

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Last month, Reliance Retail announced plans to buy back Rs 1,071 crore worth of shares from minority shareholders. Similar to the previous years, RIL will conduct the AGM through video conferencing.

The shares of RIL closed in green yesterday, up by 1.30% at Rs 2,508 per share. In the last three months, the stock has given about 13% returns to investors, outperforming Nifty 50, which has given 7% returns in the same period.