Here are the major highlights from RIL chairman Mukesh Ambani’s address to the 42nd AGM in Mumbai today##Here are the major highlights from RIL chairman Mukesh Ambani’s address to the 42nd AGM in Mumbai today

Here are the major highlights from RIL chairman Mukesh Ambani’s address to the 42nd AGM in Mumbai today:

-Saudi Aramco to invest 20 percent in Reliance Industries’ oil-to-chemicals business for an enterprise value of $75 billion.

-Jio GigaFiber services to be commercially launched on September 5th with tariff plans to be priced between Rs 700 per month onwards.

-Jio set top box to offer conference calls, free landline, cheap international calls, gaming and unlimited data.

-Voice calls from home to any Indian operator, mobile or fixed will be free as well as unlimited international calling pack at Rs 500 per month for fixed line services.

-Reliance in advanced stage of negotiations with strategic and financial investors for Jio and Retail with listing in 5 years.

-Reliance Jio and Microsoft Cloud to set up data centres using Azure platform.

-Mukesh Ambani says that the slowdown is temporary and structural reforms will propel the country forward.

Aug 12, 2019 4:02 PM

RIL aims to be zero-net debt company in 18 months##RIL aims to be zero-net debt company in 18 months

Reliance Industries Chairman Mukesh Ambani in his 42nd Annual General Meeting (AGM) announced that the business giant will become a zero-debt company by the end of FY21. RIL ended last year with net debt of Rs 154,478 crore. He announced that a four prong strategy will help the company achieve its goal. "We have a very clear roadmap to becoming a zero-net debt company in next 18 months," he said. READ MORE

Aug 12, 2019 3:23 PM

RIL AGM: 'New commerce' initiative to digitally connect kirana stores##RIL AGM: 'New commerce' initiative to digitally connect kirana stores

Reliance Industries (RIL) Chairman Mukesh Ambani on Monday said the company's retail arm will soon unveil Reliance New Commerce, an initiative to digitally connect kirana stores across the country. Speaking to shareholders at RIL's 42nd annual general meeting, Ambani said that the trials of Reliance Retail's digital commerce venture have delivered positive results.

"This user-friendly digital platform is designed for inventory management, customer relationship management, financial services and other services," he added. READ MORE

Aug 12, 2019 3:08 PM

RIL AGM 2019: Here's the full text of chairman Mukesh Ambani's speech

Reliance Industries chairman Mukesh Ambani at its forty-second annual general meeting has made several key announcements, including a commercial rollout of Reliance Jio's broadband services GigaFiber, a deal with Saudi Aramco and a partnership with Microsoft.

Aug 12, 2019 2:06 PM

Reliance Jio, Microsoft join hands to launch data centers across India##Reliance Jio, Microsoft join hands to launch data centers across India

Reliance Jio Infocomm has partnered with Microsoft to launch data centers across India. "Jio and Microsoft have entered into a globally unique long-term alliance to accelerate the digital transformation of our country," said Reliance Industries chairman Mukesh Ambani at RIL's 42nd annual general meeting. As part of the partnership, Microsoft will bring its Azure cloud platform into Jio's data centers across India. READ MORE

Aug 12, 2019 1:56 PM

RIL AGM 2019: Reliance Jio GigaFiber to come with free 4K LED TV for Jio Forever Plan users

Customers who opt for the Jio forever annual plans will get 4k television and set top box free along with annual internet plan, as part of the welcome offer.Get latest Business online at cnbctv18.com

Aug 12, 2019 1:46 PM

Saudi Aramco stake deal will be heartily welcomed by the markets, says Prabhudas Lilladher’s Ajay Bodke##Saudi Aramco stake deal will be heartily welcomed by the markets, says Prabhudas Lilladher’s Ajay Bodke

"20 percent stake sale of RIL's oil-to-chemical (OTC) business to the world's largest oil company Saudi Aramco will be heartily welcomed by the markets. It reinforces Mukesh Ambani's reputation as India's top business leader whose global vision has transformed the country's economic milieu. This is inarguably India's largest-ever FDI inflow and would help dissipate the gloomy sentiment currently pervading in the economy and stock markets. This program to aggressively pursue deleveraging in businesses such as OTC, fiber, and tower and emerge as a zero debt company in the next 18 months will strengthen the consolidated balance-sheet leading to strong valuation re-rating of the stock. RIL continues to remain as the pre-eminent play on the Indian economic juggernaut, that is likely to touch $10 trillion by 2030," says Prabhudas Lilladher CEO Ajay Bodke.

Aug 12, 2019 1:24 PM

Jio Prime Partner POS solution to modernise even the smallest kirana shop: Ambani##Jio Prime Partner POS solution to modernise even the smallest kirana shop: Ambani

Ambani said the Reliance Jio's merchant point of sale (POS) solution - Jio Prime Partner POS solution - is integral to Reliance's plans to create an ecosystem around small merchants. The solution will be user-friendly digital platform, which could modernise even the smallest kirana shop, he said.

Aug 12, 2019 1:00 PM

Mukesh Ambani concludes his speech, says aim to be zero debt company by March 31, 2021##Mukesh Ambani concludes his speech, says aim to be zero debt company by March 31, 2021

Before concluding his address to the 42nd RIL AGM in Mumbai today, Ambani said that we have been rated AAA for domestic debt and based on the new and existing growth engines, we can grow EBITDA by 15 percent annually over the next five years. We also aim to be zero net debt company by March 31, 2021, he added. The RIL chairman also said that the conglomerate will induct global partners in Jio and Reliance Retail and will move towards listing these two entities in the next five years. The telecom infrastructure transactions will be completed by the end of this financial year, he said.

Aug 12, 2019 12:48 PM

Reliance Retail has crossed Rs 1.3 lakh crore in revenue last year, says Ambani##Reliance Retail has crossed Rs 1.3 lakh crore in revenue last year, says Ambani

Speaking on Relianc Retail, RIL chairman Mukesh Ambani said that the conglomerate's retail arm has crossed Rs 1,30,000 crore in Revenue last year. Reliance Retail serves over 1 lakh customers every hour, he said. Further, Ambani said that two-third of Reliance Retail stores are in Tier 2,3 and 4 towns. Reliance Retail sells half of fresh fruits and vegetables sold in India's modern trade ecosystem, he said at the AGM. The new commerce is a $700 billion business opportunity, Ambani said, and its purpose of new commerce is to transform unorganised retail into organised retail.

Aug 12, 2019 12:29 PM

Special connectivity services for startups from January 1, 2021##Special connectivity services for startups from January 1, 2021

Addressing the 42nd AGM of Reliance Industries’ shareholder and investors in Mumbai today, RIL chairman Mukesh Ambani made two special announcements for startups and small & medium businesses. He said, Reliance Jio will make connectivity and cloud infrastructure absolutely free for budding startups. He also said that special connectivity services for startups will be available from January 1, 2021 and they can register on the Jio portal.

Aug 12, 2019 12:19 PM

Reliance Jio and Microsoft enter into long-term alliance, says Mukesh Ambani##Reliance Jio and Microsoft enter into long-term alliance, says Mukesh Ambani

Addressing RIL AGM in Mumbai today, Mukesh Ambani said that Reliance Jio and Microsoft have entered into a long-term alliance. As a part of this alliance, while Jio will set up large data centres across India, Microsoft will bring the Azure platform to Jio. Using blockchain technology, RIL will offer data privacy for Indians with the company installing blockchain networks across India, he added.

Aug 12, 2019 12:12 PM

Voice calls from home to any Indian mobile or fixed line free for lifetime##Voice calls from home to any Indian mobile or fixed line free for lifetime

Jio Fiber will come bundled with applications for leading OTT applications. Premium Jio Fiber will be able to watch the movies on the same day it is released, says RIL CMD Mukesh Ambani. Will be called 'Jio First Day First Show' and will be launched in mid 2020. Voice calls from home to any Indian operator, mobile or fixed line will be free for lifetime, says Mukesh Ambani.

Aug 12, 2019 12:03 PM

Jio Fiber commerical services to be launched on September 5##Jio Fiber commerical services to be launched on September 5

And here comes the big announcement. Reliance chairman Mukesh Ambani said that Jio Fiber commerical services to be launched on September 5. Jio fiber base plan to start with 100 mbps and to rise to 1000 mbps or 1GBps. The plans will be priced at Rs 700-Rs 10000 per month. Ambani also announced the launch of an unlimited calling pack to US and Canada at Rs 500 per month. READ MORE

Aug 12, 2019 11:57 AM

Reliance Jio's IoT platform to be available from Jan 1, 2020##Reliance Jio's IoT platform to be available from Jan 1, 2020

Here are the highlights

-Reliance Jio aims to connect 1 billion homes on Jio IoT platform

-Investment cycle of Jio is now complete, only marginal investment for access is now needed

-Wireless technology is already 4G+ and we can upgrade to 5G at minimal cost. READ MORE

Aug 12, 2019 11:54 AM

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