Lakhs of investors will eagerly wait for some major announcements from corporate giant Reliance Industries' chief Mukesh Ambani, when he addresses the company's annual shareholder meet here tomorrow.
Ambani is expected to announce a slew of initiatives for both existing and new businesses of the energy-to-retail conglomerate, possibly through multiple partnerships and potential acquisitions.
At RIL's 37th Annual General Meeting, Ambani might underline a roadmap for RIL's foray into new areas like financial services, telecom and power, as also the expansion of its existing businesses like energy, textiles and retail.
The industry watchers are expecting Ambani to focus on technology and new partnerships for RIL's various ventures.
At the same time, investors and marketmen are eagerly awaiting for a positive trigger for the company's stock, which has been underperforming the market for many months now.
RIL shares have fallen by about 6% over the past one year, as against a rise of nearly 7% in the benchmark Nifty. Another benchmark index Sensex has gained nearly 11% during the same time period.
The stock, however, gained 0.6% in a weak market today and closed at Rs 951.85 at BSE. The stock had fallen to as low as Rs 885 in February this year, after hitting a 52-week high of Rs 1,187 on November 1, 2010.
The announcements would be keenly watched by not only about 36 lakh shareholders of RIL, but also investors across the market, as it is the country's most valued firm and the stock has the maximum weigtage in the benchmark Sensex.
Talking about market expectations, Geojit BNP Paribas Financial Services' Gaurang Shah said: "The market is expecting some kind of ramp-up and exploration activities to figure out during the company's 37th AGM tomorrow."
"Investors are also keenly awaiting announcement on acquisition and investment front," he said, adding that some movement could be expected in the stock as it has not been in limelight for quite some time.
HSBC also said in a recent brokerage report that the cash-abundant RIL might soon announce overseas acquisitions and a faster rollout of its telecom services.
SMC Global Securities' Chief Strategist and Research Head Jagannadham Thunuguntla, however, said that there might not be any blockbuster announcement by RIL this time also, as the last two AGM's were very muted.
Ashika Stock Broking's Rsearch Head Paras Bothra also said that there were not much expectations, but the market would still keep a close watch on the AGM for possible announcements regarding its oil business and acquisitions.