Friday, June 3, 2011

Reliance AGM 3 June 2011 : At a glance

"RIL Chairman Mukesh Ambani"
37th Annual General Meeting (AGM) of the Reliance Company was held on Friday, June 03, 2011, at 11.00 a.m., at Birla Matushri Sabhagar, 19 Marine Lines, Mumbai 400 020
 India's largest listed firm Reliance Industries expects government approval for its deal with BP Plc in the next few weeks, Chairman Mukesh Ambani said at the company's annual shareholder meeting on Friday.

Reliance shares closed at Rs 936.15, down 1.65 percent, after being up 1.7 percent before Ambani's remarks. The stock was the second-biggest loser in the 30-share benchmark index.
Lets have a Quick look at the Key points of RIL AGM 2011 :-

1. The company, which has focused on energy as its core business, is now expanding in other industries.

2. The company is also looking to expand in sectors such as telecom, retail, financial services and hospitality.

3. After the government approvals for BP-Reliance partnership, KG-D6 reservoir will be jointly assessed to address technical issues in ramping up production.

On the contrary :-
There was no clarity on many things. There were lot of areas, which were unaddressed in the speech, be it banking, be it gas.
People were expecting him (Mukesh Ambani) to make major comments on future plans but Nothing significant has been spoken.

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