Overview

• Reliance will hold its 48th AGM at 2 p.m. IST on Friday via video conferencing, with investors tracking any guidance on a Jio IPO timeline.
• UBS resumed coverage with a Buy and a Rs 1,750 target, projecting Jio value unlocking in roughly 12–18 months, while CLSA, JPMorgan and Jefferies also reiterated bullish views.
• The company set August 14 as the dividend record date, with payment to eligible shareholders within a week of the AGM if the dividend is approved.
• Recent results showed strong year-on-year profit growth and operational momentum, with analysts expecting lower Jio capex, accelerating retail, and new energy EBITDA contributions from FY27.
• Fresh U.S. tariffs tied to purchases of Russian crude are flagged as a potential headwind for Reliance’s refining business, and investors expect commentary on crude sourcing and margins.