Shares of Reliance Industries Ltd (RIL) closed on a flat note today even as the Mukesh Ambani-led conglomerate was holding its 45th annual general meeting (AGM). At 3:00 pm, a hour after the meeting began, RIL stock was trading 0.81 per cent lower at Rs 2,597.55 on the BSE. The stock closed at Rs 2,618.75 in the previous session.
Later, the RIL stock closed 0.72 per cent or Rs 18.75 lower at Rs 2,600 on BSE.
However, RIL shares trade higher than the 20-day, 50-day, 100-day and 200-day moving averages but lower than 5-day moving averages. RIL share has gained 16.88 per cent in one year and risen 10 per cent since the beginning of this year. Total 4.59 lakh shares of the firm changed hands amounting to a turnover of Rs 120.20 crore on BSE.
Market cap of the conglomerate stood at Rs 17.64 lakh crore. The share hit a 52-week high of Rs 2,855 on April 29, 2022 and a 52-week low of Rs 2, 130 on September 1, 2021. Shares of RIL have gained 23 per cent since the last AGM held on June 24, 2021 (Saturday).
Reliance AGM 2022: Jio to offer 5G services by Diwali 2022
The stock closed at Rs 2,105 on July 23 last year, translating into returns of 23 per cent during the period. Meanwhile, shares of Bharti Airtel, RIL’s peer in the telecom sector, were trading 1.31 percent or Rs 9.55 lower at Rs 721 on BSE.
The Airtel stock was trading marginally lower after RIL CMD Mukesh Ambani said, “Reliance Jio 5G network will be launched across multiple key cities in the country by this Diwali. Reliance Jio will offer 5G services in every town in India. Reliance Jio 5G network will be launched across multiple key cities in the country by this Diwali.”
He added Reliance Jio will offer 5G services in every town in India. Ambani was addressing the oil-to-telecom conglomerate’s 45th Annual General Meeting (AGM). Akash Ambani, chairman of Reliance Jio said, “Jio will deploy the latest version of 5G called ‘standalone 5G’. To build a pan-India true 5G network, Jio will invest Rs 2 lakh crore.”
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Meanwhile, Sensex fell 860 points to 57,973 and Nifty slips 226 points to 17,332 in the final minutes of trade. In early trade, Sensex tanked 1,268 points to 57,565 and Nifty lost 387 points to 17,171 amid weak global cues.