Reliance Industries will conduct its annual general meeting (AGM) today. The meeting would include the company's business outlook, indications of international strategy and Mukesh Ambani’s comments on the KG-D6 gas dispute.
There are three main things to watch out for.
1) One is the business outlook and his take on the refining in the petrochemical businesses. It could be a reiteration of what was mentioned in the annual report. He had said that the global economy is showing signs of revival. The structural drivers of demand, however, could continue to show a considerable change. The refining business’ profitability could be volatile. There could be periods of supply tightness or oversupply in regional markets. Demand for gasoline could even slow down from current levels. On the petrochemical side, they said, the industry is likely to witness low operating rates in the next 18-24 months. This would be the business outlook.
2) The market will be watching out for the mention of an international strategy. It could be a broad outlining of what they are planning to do on the international front.
3) On the gas tussle, it is too premature for them to go out and make the formal announcement on the acquisition. So we would not hear names on what they are probably going to acquire. However, it could be a broad outlining of what they are looking at. Hence, expectations are low that they could come out and say anything on that.
There are three main things to watch out for.
1) One is the business outlook and his take on the refining in the petrochemical businesses. It could be a reiteration of what was mentioned in the annual report. He had said that the global economy is showing signs of revival. The structural drivers of demand, however, could continue to show a considerable change. The refining business’ profitability could be volatile. There could be periods of supply tightness or oversupply in regional markets. Demand for gasoline could even slow down from current levels. On the petrochemical side, they said, the industry is likely to witness low operating rates in the next 18-24 months. This would be the business outlook.
2) The market will be watching out for the mention of an international strategy. It could be a broad outlining of what they are planning to do on the international front.
3) On the gas tussle, it is too premature for them to go out and make the formal announcement on the acquisition. So we would not hear names on what they are probably going to acquire. However, it could be a broad outlining of what they are looking at. Hence, expectations are low that they could come out and say anything on that.
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