How Reliance Industries moves before, on and one-week after AGM

 
Sagar Salvi, Riken Mehta
moneycontrol.com

The Reliance Industries ' Annual General Meeting (AGM) has always been a big event for the company's shareholders, prospective investors and traders.

However, chairman Mukesh Ambani's plans to invest Rs 150,000 crore over the next 3 years failed to cheer the Reliance Industries stock as it ended the session on Thursday a percent down.

Reliance, India's fourth biggest company by market value, has been under pressure from investors over its slowing gas business and its drive into consumer-focused sectors such as telecoms and retail.

Remaining tightlipped, Ambani gave away few details of his plans for the long-anticipated launch of 4G telecommunications services, which was a big disappointment for the street.

Below is a historical chart of how RIL stock has moved before, on and one-week after AGM in the last five years.

Chart of the day: Is RIL's buyback programme a hit so far?

Riken Mehta
Moneycontrol Bureau

Reliance shares continue to flounder even as the company is buying back shares from the market. When the company had announced the share buyback, investors were hopeful that it would act as a good support at lower levels. However, with uncertainty over gas output persisting, investors appear to be using every rise in stock price to book profits. RIL has so far bought back 3.18 crore shares since 14th February, 2012. It touched a 52-week low of Rs 671 on 8th May.