The company's AGM on June 12 is expected to give a clear guideline on its telecom venture ( Reliance Jio), which will give more clarity on the company's marketing plans and how soon the business can start making profits. However, it may take at least five years for the telecom business to become profitable. The company, which is in the midst of a long investment cycle, is not expected to announce any major capex plans for its refining or petrochemical business.
Things seem to be changing for the stock as can be seen from the weekly chart below where the TO have turned positive and placed above the medium and long term TO for the first time in the last 10 months. The stock may still take some time to make big move and it remains to be seen if reliance can lead the next phase of the upmove in the Indian markets.
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| Reliance Wekly Chart |
