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“All eyes would be on RIL AGM and its announcement focusing on Jio Financial future outlook post demerger and other high hopes on Future Retail IPO, Reliance Jio IPO and company’s succession plans in the future. RIL has a lot of plans on cards for value unlocking which started from Jio Financials but first initial reactions post listing did not meet the D-street’s expectations,” Prashanth Tapse, Research Analyst Sr VP Research, Mehta Equities Ltd, said.
“I believe Mukesh Ambani would be focusing more on the Jio Financial plan of action in coming days, which would give a road clear for further value unlocking of retail and Jio telecom ventures. Technically RIL is under short buildup trend so any close above Rs 2,500 can be a turning point for the stock and AGM highlights will be highly watched. We are neutral and investors should wait and watch for the AGM outcome before taking any action in RIL and Jio Financial,” Tapse added.
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