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RIL’s 41st AGM: RIL Announces JioGigaFiber, JioPhone 2; Stock Falls
Get all your live updates on Reliance Industries’ 41st AGM here.
05 Jul 2018, 02:05 PM IST
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Key Highlights Of AGM, RIL Stock Falls
The 41st annual general meeting of Reliance Industries saw the launch of broadband services business JioGigaFiber and a higher-end feature phone - JioPhone 2. The stock which was up at least 1.25 percent before the AGM, is now trading in the red.
Here are the key highlights from the RIL AGM:
- Reliance Jio has 215 million customers within just 22-months
- It has more than 25 million JioPhone users
- JioPhone 2 will have horizontal screen and full keyboard
- YouTube, WhatsApp and Facebook services will be available to JioPhone users from August 15
- Customers can exchange existing feature phones for JioPhones for Rs 501 starting July 21
- Existing JioPhone scheme will continue
- Effective entry cost of JioPhone reduced to Rs 501 from Rs 1,500
- JioPhone 2 will be available at an introductory price of Rs 2,999
- Targets 100 million JioPhone users
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Ambani Sets 2022 Targets For Gas Production From KG-D6
- RIL will further maximise oil to chemical upgradation
- Will upgrade all of our fuels to high-value petrochemicals
- Hydrocarbon business is poised for robust value creation
- Continue to pursue to development in KG Basin with joint venture partner British Petroleum
- RIL targets 30-35 million cubic meters gas production from KG-D6 by 2022
Mukesh Ambani Says
- RIL is second largest paraxylene producer in the world
- RIL adding composites, carbon fiber to portfolio
- Butyl rubber unit will be commissioned soon
- RIL is now largest recycler of PET bottles in India
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Unprecedented Opportunities
Mukesh Ambani said that RIL’s platform business strategy would unlock three "large opportunities" - agriculture, education, and healthcare.
- India has an unprecedented opportunity to create wealth and new knowledge-rich livelihood opportunities in rural areas
I am sure that if we combine digital technology tools with the innate knowledge and wisdom of Indian farmers, Jio can usher in a smart, new Green Revolution in India.Mukesh Ambani, CMD, RIL
- Jio will connect 58,000 colleges and universities and 1.9 million schools in less than 2 years
- These educational institutions collectively provide education to nearly 200 million children
- Jio will attempt to help overcome the deficit of physical infrastructure in healthcare
India can considerably overcome the deficit of physical infrastructure of hospitals and doctors by universalising telemedicine, tele-radiology, eDiagnostics, genomics and other cost-effective cloud-based solutions.Mukesh Ambani, CMD, RIL
Reliance Retail + Reliance Jio = Hybrid E-Commerce Platform
Reliance Industries envisions a hybrid online-offline e-commerce platform which will integrate the “power of Reliance Retail & Reliance Jio”, he said. Calling it the Bharat-India Jodo program, he said the hybrid platform will give customers the best value for money.
As Reliance transitions to become a technology platform company, we see our biggest growth opportunity in creating a hybrid, online-to-offline new e-commerce platform.Mukesh Ambani, CMD, RIL
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What To Watch Out For
RIL Annual General Meeting To Begin Shortly
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