Sagar Salvi, Riken Mehta
The Reliance Industries ‘ Annual General Meeting (AGM) has always been a big event for the company’s shareholders, prospective investors and traders.
However, chairman Mukesh Ambani’s plans to invest Rs 150,000 crore over the next 3 years failed to cheer the Reliance Industries stock as it ended the session on Thursday a percent down.
Reliance, India’s fourth biggest company by market value, has been under pressure from investors over its slowing gas business and its drive into consumer-focused sectors such as telecoms and retail.
Remaining tightlipped, Ambani gave away few details of his plans for the long-anticipated launch of 4G telecommunications services, which was a big disappointment for the street.
Below is a historical chart of how RIL stock has moved before, on and one-week after AGM in the last five years.