The long-awaited moment for Mukesh Ambani, Reliance Industries, and its 3.5 million shareholders has finally arrived. After a five-year wait, the year 2024 marked a significant shift during Reliance’s Annual General Meeting (AGM). This year, the company saw a notable increase in its shares, a welcome change compared to the stagnation and declines experienced since 2019. The last AGM in 2019 witnessed a rise of nearly 10% in shares, while the subsequent years from 2020 to 2023 showed a downward trend. However, this year, the downward streak was broken, with shares closing up by 1.5%. Let’s explore the performance of the company’s shares over the past four years during the AGM.
Significant Uptrend After Five Years
Despite the fluctuations throughout the year, shareholders of India’s largest company have always marked their calendars for the AGM. Investors anticipate special gifts from Mukesh Ambani and hope for increased share values. For the past four years, Reliance’s AGM had been synonymous with a drop in share prices, but that trend came to an end in 2024. On the day of this year’s AGM, which took place on Thursday, a substantial upswing in Reliance shares was observed, benefiting the company’s 3.5 million investors significantly.
Performance Metrics
According to BSE data, Reliance Industries’ shares closed 1.51% higher, gaining ₹45.10 to reach ₹3040.85. During the trading session, the shares even rose by 2.64%, hitting an intraday high of ₹3074.80. Investors had hoped for even greater gains; shares opened at ₹3014.95 after closing the previous day at ₹2995.75.
How Did the Shares Perform from 2020 to 2023?
The performance of Reliance shares during the AGMs from 2020 to 2023 was less than encouraging. In 2020, the first year of the COVID pandemic, shares fell by 3.71% to ₹1845.6 on July 15. The following year, on June 24, 2021, a 2.35% decrease brought shares down to ₹2153.35. In 2022, on August 29, shares showed a slight decline of 0.84%, closing at ₹2596.80. Last year, on August 28, 2023, the shares fell by 1.11%, with a final price of ₹2442.55. This consecutive decline added to the anticipation surrounding the 2024 AGM.
The Last Time Shares Surged by 10%
The previous surge in shares during the AGM occurred five years ago in 2019, when Reliance shares jumped approximately 10% to ₹1262.6. That AGM took place on August 12, and it’s worth noting that such a substantial rise had not been witnessed since 2014. Since then, investors have been eagerly awaiting a similar uptrend during the AGM.
Yearly Growth Analysis
It has been a year since the last AGM, and the results are promising. The company’s shares have risen by 24% since the previous year’s AGM. From a starting price of ₹2442.55, the shares have climbed to ₹3040.85—an increase of ₹598.3 per share. This means, for an investor holding 1,000 shares, the total profit realized over the past year amounts to ₹598,300, highlighting significant returns on investment.
