Reliance AGM 2023 LIVE Updates: The Reliance Industries (RIL) 46th annual general meeting (AGM) will be announced by Chairman Mukesh Ambani on August 28 at 2 pm. Big plans are expected to be announced in relation to Reliance Retail and Jio’s initial public offerings (IPOs). Analysts and investors are also excited about value unlocking in RIL’s telecom and retail divisions. The stock has been in the green since market opened. CSLA, the brokerage firm, retained ‘buy’ rating on the conglomerate and increased the target price to Rs 3,060 a share, up 23 percent from its current market price. Retail investors, mutual funds and insurance companies increased their holdings in RIL since the last AGM. Reliance Industries (RIL) Stock
Change in shareholder base
— Retail shareholders: Numbers have increased by 190,270 over the past year with aggregate shareholding up 10 basis points.
— Mutual Funds: Their holding has reduced from 86 to 84 but the aggregate stake held by them has increased 81 basis points. Those with increased stakes include: Kotak Equity Arbitrage Fund, SBI Flexicap Fund and Axis Bluechip Fund.
— Insurance Companies: These saw the sharpest jump from 6 to 41 in the last year – particluarly LIC holds the chunck with over 6.5 percent stake. Analysts say the upsurge can be attributed to SEBI the shareholding reporting format in June 2022.
— Foreign Portfolio Investors: These have cut holding by 135 basis over the past year.
