Reliance Industries gains nearly 3% ahead of AGM

Shares of Reliance Industries Ltd (RIL) on Wednesday gained nearly 3 per cent in an otherwise sluggish stock market ahead of its 39th annual general meeting (AGM) to be held on Thursday.

RIL's scrip ended the day 2.56 per cent higher at Rs 800.55 on the BSE. During the intra-day trade, the stock gained 2.86 per cent to Rs 803.
     
On the NSE, the bellwether scrip settled at Rs 802, up 2.79 per cent.
       
In terms of volume, 3.81 lakh shares of the company changed hands on the BSE, while over 29.14 lakh shares were traded on the NSE.

"Oil and gas major Reliance Industries gained ahead of its annual general meeting on Thursday. The street is expecting new announcements in the field of telecom and connectivity which the company operates under Reliance Jio Infocomm," said Milan Bavishi, head research, Inventure Growth and Securities.

Anil Ambani-controlled Reliance Communications shares also ended higher, up 5.29 per cent on the BSE.

During the day, the Reliance Communications stock touched a high of Rs 116.80 before settling at Rs 116.35 at the end of the day's trade.

Meanwhile, in the stock market, the BSE benchmark Sensex ended the day at 19,568.22, up 22.44 points.