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Friday, June 18, 2010

RIL to hog the headlines!


Pursue your goals even in the face of difficulties, and convert adversities into opportunities. – Dhirubhai Ambani.

The Ambani brothers have taken their father’s advice and have hopefully left behind their adversities. How well they turn them into opportunities, will be visible somewhat today as RIL holds its much-anticipated AGM in Mumbai. We expect a rather subdued start to the day but Reliance group companies could hog more limelight as we wrap up another good week. Emotions may run high in the wake of the rapprochements between the two estranged Ambani siblings. Reports point to a few big-bang announcements by Mukesh Ambani. A word of caution here. Reliance and ADAG group shares have rallied in recent past. It won’t be a bad idea to adopt the ‘sell on news’ strategy and lock in some gains in these counters.