Reliance Industries Ltd. to Postpone Q1 results Announcement to July 30
Reliance Industries Ltd. to Postpone Q1 results Announcement to July 30
On Tuesday (July 21), Reliance Industries Limited (RIL) in a filing with the stock exchange confirmed that the company has decided to postpone the announcement of its June quarter earnings to July 30, 2020. Earlier, the company had decided to make announcement on July 24, 2020.
However, the communication to the exchange did not specify the reason for postponing the meeting of the Board of Directors.
The company has said in a BSE release, “The meeting of the Board of Directors of the company to consider and approve the standalone and consolidated unaudited financial results of the company for the quarter ended June 30, 2020, will be held on Thursday, July 30, 2020, instead of on Friday, July 24, 2020, as intimated earlier.”
At the company’s 43rd Annual General Meeting (AGM) which was held on July 15, Reliance Industries had announced a series of transactions and investment of Rs 33,737 crore in its digital services unit Jio Platforms by Alphabet Inc.’s Google.
However, Mr. Mukesh Ambani said in a speech to shareholders that due to the unexpected situation in the energy market and the COVID-19 situation, Reliance Industries and Saudi Aramco’s transaction failed to proceed as planned.
Mr. Mukesh Ambani is Owner & CEO of RIL and has now become the sixth richest person in the world along with his net worth USD 72.4 billion.
RIL Sets New Record on BSE
The share price of Reliance Industries Limited rose by more than a per cent higher of Rs 2,010 per share, setting a new record on the Bombay Stock Exchange (BSE).
In the past three months, the stock price has soared by more than 62 per cent. On Wednesday (July 22) at 12:45 IST, it was trading at Rs 2,003.60 which rose by Rs 31.75 or 1.61 per cent. The market capitalization of the company was Rs 12.70 lakh crore.
In terms of value, it is also one of the most active stocks on the National Stock Exchange (NSE), with a trading volume of 1.79 crore shares.
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Reliance Retail Limited is one of the subsidiaries of Reliance Industrial Limited. The company was established in 2006 and Mr. V. Subramaniam is the CEO of the joint venture. Its retail stores provide clothing and footwear, lifestyle and home decoration products, farm tools and inputs, entertainment and leisure, health and well-being products, electronics, food, groceries. In terms of revenue, the company is the largest retailer in India.
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