“The day is not far when Reliance Jio’s share will be more than 50 percent of our overall EBITDA. Reliance has become India’s largest exporter, exporting to 107 countries,” says Mukesh Ambani.
CMD Mukesh Ambani speaks at the 42nd Annual General Meeting:
Jio Crossed 340 Million Subscriber Mark | CMD Mukesh Ambani says, “Skeptics used to say that Reliance cannot service in the consumer business. Relaince has proved them wrong. Jio crossed 340 million subscriber mark to become the world’s fastest growing business. Reliance Jio is larger than all other major retail business put together.”
Addressing the 42nd Annual General Meeting, Mukesh Ambani says, “in the golden year of Reliance, it was another year of robust business,” adding that last year Reliance gained “profits in the retail sector as well”.
CMD Mukesh Ambani Begins Speech | Chairman and Managing Director of Reliance Industries Limited (RIL), Mukesh D Ambani, begins to address shareholders at 42nd Annual General Meeting.
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.
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.
Chairman and Managing Director of Reliance Industries Limited, Mukesh Ambani, will deliver a speech shortly:
Coming up #RILAGM speech by CMD Shri Mukesh D Ambani at 11:00AM on Monday, 12 August 2019 pic.twitter.com/wL2lsOJ3fJ
— Flame of Truth (@flameoftruth)August 11, 2019
Jio Phone 3 Likely to be Launched | 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.
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.
Stock market experts will also eye the annual financial figures that are expected to cross the previous fiscal years’ numbers.
RIL Annual Meeting Today | 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.
Source: News18