As Reliance Industries Limited (RIL) holds its 42nd annual general meeting (AGM) on Monday in Mumbai, investors and consumers will be awaiting fresh commercial launches from Jio. Stock market experts will also eye the annual financial figures that are expected to cross the previous fiscal years’ numbers.
Commercial launch of Jio Phone 3 and pricing of Jio’s broadband service GigaFiber, and the triple play plan for GigaFiber that bundles broadband, landline as well as television services, are expected to be announced at the RIL AGM.
Jio Phone 2 was launched at the last AGM and carried a price tag of Rs 2,999. Its next iteration, Jio Phone 3, is expected to be priced at Rs 4,500.
The pricing for the broadband plans is expected to be in line with peers but RIL will sweeten the deal by making it a triple play — a combination of broadband-landline-TV OTT service. A base price of ranging between Rs 500-600 for GigaFiber is expected, according to CNBC-TV18 report.
The conglomerate’s stock rallied from Rs 964 recorded on July 5, 2018 when RIL held its 41st AGM, to Rs 1,162 registered on Friday, 9 August, which translates into a rally of over 20 percent.
As of last RIL AGM, Jio had 250 million users whose per month data usage totaled 240 crore GB while voice usage on the network stood at 530 crore minutes per day. The Jio users’ video consumption amounted to 340 crore hours per month.
Reliance Industries, the country’s largest company by market capitalisation, reported a consolidated profit after tax of Rs 10,104 crore for the June quarter, up 6.8 percent from a year ago. The net profit also beat a poll of analysts which had pegged the profits at Rs 9,852 crore.
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Source: News18