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Anant Ambani's appointment as non-executive director of RIL was approved by a whopping 92.2 percent of the company's shareholders, according to the results declared on October 27
Investors are eagerly awaiting the conglomerate's management to highlight the way forward for monetisation of Jio and retail businesses. "Within the operating businesses, we believe Retail is the most interesting, but also the more opaque of RILs businesses given the lack of granular details," JP Morgan's Pinakin Parekh said.
Reliance Industries shareholders have a chance to earn one Jio Financial Services (JFSL) share, for every stock held, subject to a 'buy one, get one' offer, which ends today. The offer follows the decision to demerge RIL's financial services into a separate subsidiary.
Reliance Industries' 'Buy 1 Get 1' offer rewards shareholders with Jio Financial Services shares.
The brokerage estimates a 10% YoY drop in the bottomline to Rs 16,160 crore, and a 16% fall sequentially. The consolidated revenue may decline 7% YoY and 4% sequentially to Rs 2.08 lakh crore.In the preceding March quarter, the company posted a 19% rise in its net profit at Rs 19,299 crore, while revenue for the same period grew 2% to Rs 2.16 lakh crore.