Reliance Industries Limited (RIL) has announced the date of its 46th Annual General Meeting (AGM) on Friday. This time the company's AGM will be held on August 28. Mukesh Ambani's company has given this information in the exchange filing.
In terms of market capital, this AGM of the members of Reliance, the country's largest company, will be held through video conferencing from 2:00 pm on August 28. Reliance Industries has fixed August 21 as the 'record date' to elect eligible shareholders to receive dividend for the financial year 2022-23. Reliance's AGM is eagerly awaited by its more than 36 lakh investors, because usually the company makes big announcements in the Annual General Meeting.
RIL also told in the stock exchange filing that if the dividend is declared in the AGM, it will be paid within a week from the end of the meeting. According to the company, August 21 has also been fixed as the date for electing members eligible to vote on the proposals presented in the AGM.
Reliance Industries has demerged its financial services unit just a few days ago. The name of the new unit is Jio Financial Services (JFS). Its valuation has been estimated at $ 20 billion. The share price of the company was fixed at Rs 261.85 in the 'pre-open call auction' on July 20.
The demerger decision by Mukesh Ambani-led Reliance is being seen as the company's expansion into the financial services sector. The license of this company is as a Non-Banking Financial Company.
Reliance Industries made several important announcements in its 45th AGM last year. Under this, plans were revealed to launch 5G services, while high-profile partnerships with Meta and Google to launch AirFiber service were also announced.
Reliance announced the results of Q1FY24 i.e. first quarter (April-June) on 21 July. The net profit of the company stood at Rs 16,011 crore. The net profit of the company was Rs 17,955 crore in the same quarter last year. That is, in the first quarter of this financial year, the company's net profit declined by 11%.
