RIL gains ahead of Annual General Meeting

The company is likely to announce some big-ticket investment plans in the retail and the 4G space at the meeting

Reliance Industries (RIL) is trading higher by over 2.2% at Rs 730 extending its yesterday’s 1.7% gain ahead of the company's 38th Annual General Meeting today.

Mukesh Ambani promoted energy major, which is sitting on cash pile of over Rs 70,000 crore, is likely to announce some big-ticket investment plans in the retail and the 4G space at the meeting.

“Observers expect the Reliance chief to provide details of the firm’s growth plans in telecom and offer clarity on the critical issue of gas production, particularly on the Krishna-Godavari (KG) basin,” the reports suggest.

The stock opened at Rs 721 and hit a low of Rs 719 on the National Stock Exchange. A combined 1.74 million shares have changed hands on the counter so far on both the exchanges.