Reliance AGM 2021 HIGHLIGHTS: Saudi Aramco Chairman Given Charge As Independent Director; Google & Jio Team Up For JioPhone Next
Reliance AGM 2021 HIGHLIGHTS: Billionaire Mukesh Ambani, Asia's most affluent, is addressing the shareholders at the 44th Annual General Meeting (AGM) of Reliance Industries Limited (RIL), India's most valued firm by market capitalization, today virtually.
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Reliance AGM 2021 HIGHLIGHTS: Billionaire Mukesh Ambani, Asia's most affluent, is addressing the shareholders at the 44th Annual General Meeting (AGM) of Reliance Industries Limited (RIL), India's most valued firm by market capitalization, today virtually.
Ambani, known for making big bang announcements during the AGM, is expected to cheer the shareholders with mega announcements in its core O2C business and the consumer-facing retail and telecom businesses.
The market expects the 64-year old business tycoon to clarify the long impending 15 billion deal with the world's largest oil firm Saudi Aramco to sell a 20% stake in the newly carved out oil-to-chemicals (O2C) business of RIL.
RIL had raised Rs 2.6 lakh crore ($36 billion) by selling stakes in its retail and digital assets, turning net debt-free, and now the investors are looking at RIL chief to chart a strategic road map for initiatives such as e-commerce to 5G rollout in the upcoming AGM.
Meanwhile, Reliance Industries Limited (RIL) shares opened in red ahead of its 44th annual general meeting on Thursday. Shares of India's most valued firm were trading down 0.7% or Rs 15 at Rs 2190 in a firm Mumbai market.
In the last 10-year, RIL shares closed down six times after the AGM and closed up four times post-AGM. RIL shares surged almost 10% after the 2019 AGM and closed down 3.71% after the 2020 AGM.
Reliance is expected to launch its first 5G phone in association with Google and JioBook, a low-cost affordable laptop from Reliance Jio. Last year, Mukesh Ambani spoke about the 5G deployment in the country.
Mukesh Ambani Announces JioPhone Next - 'World's Cheapest 4G Smartphone' | All You Need To Know
Mukesh Ambani Announces JioPhone Next - 'World's Cheapest Smartphone' | All You Need To Know
Jio Phone Next Announced: The Jio Phone Next features an optimised Android operating system jointly developed by Google and Jio.
Reliance AGM 2021: Jiomart-WhatsApp Beta Run Launched; Ambani Says Response Encouraging
Reliance AGM 2021: Jiomart-WhatsApp Beta Run Launched; Ambani Says Response Encouraging
Jiomart WhatsApp Tie-Up: RIL Chairman Mukesh Ambani said that response from WhatsApp and JioMart customers is encouraging along with lots of valuable feedback.
Reliance AGM 2021: 'RIL Consolidated Revenue Of Rs 5,40,000 Cr, Continues To Be India's Largest Exporter,' Says Mukesh Ambani
'RIL Consolidated Revenue Of Rs 5,40,000 Cr, Continues To Be India's Largest Exporter': Ambani
Reliance Industries Limited (RIL) shares opened in red ahead of its 44th annual general meeting on Thursday. Shares of India's most valued firm were trading down 0.7% or Rs 15 at Rs 2190 in a firm Mumbai market.
'"I foresee that the Indian economy will bounce back at a rate that will surprise the world': Mukesh Ambani
"My father, Dhirubhai Ambani, used to say, Challenge negative forces with hope, self-confidence and conviction, and the ambition and initiative will ultimately triumph.” I have absolutely no doubt that India will conquer the COVID crisis — sooner rather than later. Post COVID, India will emerge stronger. It will be a Better India, a Resurgent India, a more Equal India, and a far more Self-Confident India," Mukesh Ambani.
"I foresee that the Indian economy will bounce back at a rate that will surprise the world. And prosperity and opportunities will be created for all on a scale never seen before. Not for a few, but for all 1.35 billion Indians. Indeed, I see the global economy resetting itself in ways that will create a more EQUAL WORLD. May God forever guide us along this path," Mukesh Ambani.
'Working with leading global partners to develop a full range of 5G-capable devices': Mukesh Ambani
To develop the end-to-end 5G ecosystem we are now working with leading global partners to develop a full range of 5G-capable devices. The Jio 5G technology is well-positioned to create compelling applications for consumers and enterprises spanning Healthcare, Education, Entertainment, Retail and other key verticals of the economy.
RIL CMD Mukesh Ambani: Together with our partners, we have tested the JIO 5G solutions in India and we successfully demonstrated speeds well in excess of 1 GBPS. Our 'Made in India' solution is comprehensive, complete and globally competitive. It reaffirms my faith in the abundant talent of Indian engineers to deliver world-class products in such cutting-edge technology.
Recently, we received the necessary regulatory approvals... as well as trial spectrum for initiating 5G field trials. As I speak to you, the entire 5G Standalone Network has been installed in our data centres across the nation and also at our trial sites in Navi Mumbai. We are confident of being the first to launch full-fledged 5G services. And because of our converged, future-proof architecture JIO's network is uniquely positioned to quickly and seamlessly upgrade from 4G to 5G.
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