RIL AGM hyped up: Kejriwal

Following are comments from analysts:

ARUN KEJRIWAL,DIRECTOR OF RESEARCH FIRM KRIS IN MUMBAI:

There were a lot of unrealistic expectations built around Reliance AGM. The hype is now fading,which is reflected in the share price movement.

K.K. MITAL,HEAD OF PORTFOLIO MANAGEMENT SERVICES,GLOBE CAPITAL,NEW DELHI:

Mukesh8217;s vision is quite clear. He wants to concentrate on 4G spectrum; he wants to concentrate on power. He wants to do global acquisitions.

There were lot of speculations that Reliance Industries may buy a stake in Reliance Communications ; Mukesh may support Anil8217;s Reliance Power .

There were also speculation that Anil Ambani might turn up at the AGM. But let8217;s remember that this is just the beginning. Going forward there will be many more opportunities for tie up between the brothers

TEJAS DOSHI,HEAD OF RESEARCH,SUSHIL FINANCE IN MUMBAI:

People had built unrealistic expectations that there would be big-bang announcements at the meeting.

The disappointment is showing in the stock price of the companies led by both Ambani brothers.

SUSHANT GUPTA,SENIOR ANALYST WITH WOOD MACKENZIE,SINGAPORE:

Refinery-wise they are the most competitive in the region. If you look at refining margins,there is a downward trend which I expect to continue for at least next few years.

Even companies like Reliance are finding it challenging to push products in the global markets at better margins. Reliance should diversify and step up focus on petrochemical sector,which is one of the major contributory to its profit.

MITEN MEHTA,FUND MANAGER BELLWETHER CAPITAL,MUMBAI:

Mukesh Ambani words were more or less expected after the end of the non-compete agreement. In fact there were more expectations than what was actually announced. Reliance Industries needs to get into other areas now and power is an obvious choice for them.

GUL TECKCHANDANI,INDEPENDENT ANALYST,MUMBAI:

His announcements on the power sector sound good. Mukesh has the record of being conservative in his announcements but delivering on what he says.

India needs more power and the more people that enter the sector,the better.

NITIN ZAMRE,MANAGING DIRECTOR AT CONSULTANCY ICF INTERNATIONAL,NEW DELHI:

The AGM is on expected line. The two brothers coming together throws open opportunity for both RIL and ADAG,but more for RIL.

Given the fact Reliance has core competency in building very large projects,power is the next opportunity mainly ultra mega power Projects,data management and shale gas.

GAJENDRA NAGPAL,CEO OF UNICON FINANCIAL,NEW DELHI:

On expansion into power: They are sitting on so much cash. It8217;s a natural extension of Reliance8217;s business of energy. To that extent,it seems like a well thought of move. I am extremely bullish on the counter in the long run. He is absolutely making all the right moves.

On share movement: Expectations are slowly tickling down. I see no reason why shares should fall now. It8217;s just profit taking.

One would want to hear about his financial services foray. That also seems like a big opportunity.

MARKET REACTION:

At 12:12 p.m. 0642 GMT,shares in Reliance Industries were trading down 0.4 percent at 1,067 rupees,after rising as much as 1.7 percent in early trade. The main indexshed 0.2 percent after climbing 0.6 percent early.

Reliance Natural Resources,controlled by the Anil Dhirubhai Ambani Group ADAG,was down more than 7 percent.

BACKGROUND: 8211; In May,Mukesh Ambani won a Supreme Court ruling in a gas pricing dispute with Anil that had embroiled New Delhi and ultimately brought the long-estranged brothers to the negotiating table.

8211; Exactly five years ago,the two brothers split the business empire founded by their father after disagreements over ownership,and the non-compete agreement had been a source of acrimony between the two.

8211; Reliance shares have the highest weighting in India8217;s main stock index,the 30-share Sensex