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Reliance Industries' 37th annual general meeting might have sounded quite extravagant on the face, but, according to SP Tulsian of sptulsian.com, everything spoken by chairman Mukesh Ambani was in public domain; nothing new. "Crystallized plans have not been unveiled, nor have they elaborated on the company's capex plan," he told CNBC-TV18.
The Reliance shares shot up to Rs 956 per share at the beginning of the speech, which lost some ground by the end of the AGM.
Deven Choksey is more optimistic post the AGM. He finds the company's continuous search for new ventures to improve their business standing a major plus point. “From petrochemical to oil and gas, from telecom to retail, they are systematically transforming and charging ahead with their expansion plans.”
He sees these businesses adding to the topline going forward. “We are going to see a larger traction of growth happening over the next two-three years from each of these businesses apart from the current businesses.”
regards,
shubhang
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