Reliance Industries shares trade flat ahead of 49th annual general meeting

Shares of the country's most valuable company, Reliance Industries, were trading on a flat note ahead of its annual general meeting (AGM) scheduled at 2:00 pm on Friday, June 19. The stock rose as much as 0.76% to hit an intraday high of ₹1,338.20 on the National Stock Exchange (NSE). The stock, however, gave up most of its intraday gains and turned flat in late morning deals.

Billionaire Mukesh Ambani, chairman and managing director of Reliance Industries, will address shareholders at 2:00 pm to mark company's 49the AGM.

Investors will keenly watch out for Ambani's speech as he will unveil future plans for the oil-to-telecom conglomerate and will also keep a close on eye time line of much awaited share sale via initial public offering (IPO) of its telecom arm Jio Platforms.

Experts predict that clarity on Jio IPO, Reliance Retail’s growth prospects, along with energy business progress and dividend approval, will be among other key corporate updates to watch for.

Reliance is also expected to provide shareholders with further context for its new energy business, as the company in past guided for capex plan for battery storage capacity businesses and green hydrogen.

The company will also outline about its ongoing AI initiatives and how it intends to harness the AI going ahead. Last week, Reliance Industries said that it partnered with Meta for AI-enabled data centre in India.

Reliance will build a data centre with 168 MW capacity in Jamnagar, Gujarat, which Meta will lease, with options to scale.

Under the agreement, RIL will provide comprehensive end-to-end services spanning the entire lifecycle of the data centre – from design and construction to the ongoing management of utilities, renewable power supply, network connectivity, and fully managed operational services.

Reliance Industries Q4 earnings

Reliance Industries reported a net profit of ₹16,971 crore in January-March quarter, marking a decline of 12.55% from ₹19,407 crore in the same period last year as operating profit for its oil-to-chemicals (O2C) business declined due to sharp rise in crude prices amid ongoing tensions in West Asia.

Its revenue from operations, however, jumped 13% to ₹2.98 lakh crore from ₹2.65 lakh crore in the year-ago period.

The company reported operating profit or earnings before interest, taxes, depreciation, and amortization (EBITDA) of ₹44,141 crore in March quarter, up 10% but its margin shrunk by 180 basis points to 14.78% compared 16,57%.

“Through fiscal FY2025-26 we faced geopolitical disruptions, volatile energy prices and shifting global trade patterns. These headwinds weighed on businesses across the world. India held its economic growth course through all this, as did Reliance. The breadth of our portfolio and strong domestic orientation helped navigate volatility in the external environment," said Mukesh Ambani, Chairman and Managing Director, Reliance Industries.

As of 11:00 am, Reliance Industries shares traded flat at ₹1,330, outperforming the NIFTY50 index which was down nearly 1%.