Reliance-Industries
Business

RIL AGM: 5G phones are expected to be released alongside a bonus issuance and dividend announcement

  •  
  •  
  •  
  •  
  •  
  •  

RIL is likely to make announcements across its telecom, retail, and O2C businesses, as it has a history of reaching targets ahead of schedule.

Reliance Industries (RIL), helmed by Mukesh Ambani, will convene its 44th Annual General Meeting (AGM) on June 24 at 14 IST. Dalal Street always keeps a watchful eye on the event, and this time is expected to be no different.

RIL is likely to make announcements across its telecom, retail, and O2C businesses, as it has a history of reaching targets ahead of schedule.

“Reliance is expected to announce the launch of 5G services at its future AGM, which might happen in late 2021. Furthermore, 5G phones are expected to be unveiled at the AGM, which might be another fascinating development to keep an eye on “Moneycontrol spoke with Gaurav Garg, Head of Research at CapitalVia Global Research.

Chairman Mukesh Ambani stated during the company’s last AGM that Jio built and created a complete 5G solution from the ground up, allowing it to provide a world-class 5G service in India utilising 100 percent homegrown technologies and solutions.

“As soon as 5G spectrum becomes available, this Made-in-India 5G solution will be ready for trials… and might be ready for field deployment next year. We can simply convert our 4G network to 5G thanks to JIO’s integrated, all-IP network design “According to Ambani.

“Once Jio’s 5G solution has been demonstrated at a large scale in India, Jio Platforms will be well-positioned to be a worldwide exporter of 5G solutions as a fully managed service,” he added.

“We believe we can design a low-cost 4G or perhaps 5G smartphone for a fraction of what it costs now. We are certain that by partnering with Google, we will be able to advance the national goal of placing a smart gadget in the hands of every Indian.”

According to Gaurav Garg, JioBook, a line of low-cost laptops, is another draw for investors.

This AGM, according to Garg, would also include a dividend declaration and bonus announcement.

“We might see a 1:1 bonus announcement since Reliance tries to keep the market price of shares around Rs 1,000,” he said.

Reliance Industries set June 14, 2021 as the record date for deciding who is eligible to receive the dividend for the fiscal year 2020-21 earlier this month.

If a dividend is announced at the AGM, it will be paid within a week of the meeting’s conclusion, according to the corporation.

Furthermore, according to Gaurav Garg, specific announcements on the status of the Saudi Aramco agreement in the O2C market as well as the Future Retail merger in the retail arena are planned.

RIL’s stock has increased by 12.1 percent so far in 2021. It has increased by 34.4 percent in the last year.

Diginews.live is now on Telegram. Join Diginews channel in your Telegram and stay updated with latest news


  •  
  •  
  •  
  •  
  •  
  •