Reliance Industries AGM 2018: Mukesh Ambani to create hybrid online-to-offline retail platform
Reliance Industries AGM 2018: Mukesh Ambani to create hybrid online-to-offline retail platform
Mukesh Ambani, Chairman & Managing Director, Reliance Industries announced a slew of attractive offers in the telecom, broadband and retail space. At RIL's 41st Annual General Meeting, Ambani said Reliance Jio has doubled its subscriber base to 215 million in 22 months. RIL Chairman also announced that the company is launching JioGigaFiber, Jio's fixed line broadband.
Speaking about the retail platform, Amabani said RIL saw its biggest growth opportunity "in creating a hybrid, online-to-offline new commerce platform". The new commerce platform will be created through integration of its offline retail arm and online technology platform, he explained.
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Hybrid online-to-offline retail platform:
According to Ambani, the platform will bring together the 35 crore customer base of Reliance Retail stores, 21.5 crore Jio connectivity users and a targeted 5 crore Jio "GIGA-HOMES"; and the "3 crore small merchants and shop-keepers all over India who provide the last-mile physical market connectivity".
"Hence, we will integrate the physical and digital marketplaces in a uniquely collaborative Bharat-India Jodo enterprise," Ambani said.
"We see merchants and small shop owners as critical customer interaction and fulfilment points, who will share a mutually beneficial win-win relationship with us."
He elaborated that through the deployment of "merchant point of sale" for small shop owners, the company will enable them to do "everything that large enterprises and large ecommerce players are able to do".
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Mukesh Ambani then invited Isha Ambani and Akash Ambani on stage. Akash added further details. He said, "Your home will have wall-to-wall Wi-Fi coverage, every appliance, plug point, switch will become smart. You can have cameras giving you 24x7 security monitoring, alerts." Isha Ambani, on her part, said, "Gone are the days of Mbps, now it will be about Gbps: Isha Ambani."
JioPhone Monsoon Hungama: Mukesh Ambani says buy JioPhone 2 priced at just Rs 501
Reliance Industries AGM: The company's chief, speaking at the meet made several big announcements and one of the biggest was the rollout of a new mass based plan. Ambani announced the launch of a 'JioPhone Monsoon Hungama'. Earlier, Ambani had revealed that 'JioPhone has taken the country by storm'. He said that Reliance has as many as 25 mn JioPhone users in India. He revealed that, "Now RIL will be taking JioPhone to next level with added functionalities."
Ambani then proceeded to make an announcement that would be music to the ears of the masses. He said, "Today, we are launching a brand new JioPhone scheme, JioPhone “Monsoon Hungama”. Under this offer, by exchanging your old feature phone, you can get a brand new JioPhone for an effective entry price of just Rs 501."
Mukesh Ambani: Reliance Jio will start taking registrations for setting up fibre network from August 15.
JioPhone Monsoon offer: Starting July 21, you can exchange your old JioPhone on just Rs 501.
Isha Ambani at Reliance Industries AGM 2018: Gone are the days of Mbps, now it will be about Gbps
Mukesh Ambani: We will now extend fiber connectivity to homes, merchants, small and medium enterprises and large enterprises simultaneously across 1,100 cities to offer the most advanced fiber-based broadband connectivity solutions.
Reliance Industries AGM 2018: Reliance Jio to bring in Facebook, WhatsApp to JioPhones.
Mukesh Ambani launches Jio Gigafibre
- We will now use fiber connectivity to provide fixed broadband connectivity
- Reliance Jio to extend fiber connectivity to homes, small and medium enterprises
- Will roll out broadband connectivity services in 1,100 cities
Mukesh Ambani: Reliance Jio customer base doubled to 215 million in one year.
Reliance Industries share price: RIL stock is trading flat while Mukesh Ambani addresses shareholders at RIL's 41st AGM.
Source: BSE
Mukesh Ambani: Reliance Jio will put India among top five in the fixed line broadband in the coming years.
Mukesh Ambani: RIL's earning profile has undergone a fundamental change. The company has reached an inflection point. Soon our consumer businesses will contribute as much to overall earnings as petrochem business.
Mukesh Ambani: Its the first AGM since Reliance Industries began its golden decade
Mukesh Ambani: New age businesses have started delivering profits. Hydrocarbon & consumer biz have helped company create more records, scale new heights
Watch Realince Industries AGM 2018: One can watch the AGM meeting live on Jio TV as well.
Planning to watch RIL’s 41st AGM? Click any of the below mentioned links:
YouTube
Flame Of Truth Channel (https://www.youtube.com/user/flameoftruth2014)
Jio Channel (https://www.youtube.com/jio)
Facebook
Reliance Industries Limited (https://www.facebook.com/RelianceIndustriesLimited)
Jio (https://www.facebook.com/Jio)
Twitter
@FlameOfTruth (https://twitter.com/flameoftruth)
@RelianceJio (https://twitter.com/reliancejio)
RIL to extend CMD Mukesh Ambani's term by five years: Reliance Industries will seek shareholders' nod to give Mukesh Ambani another five years as the Chairman and Managing Director of the company. Ambani, 61, has been on the board of RIL since 1977 and was elevated as Chairman of the company after the death of his father and group patriarch Dhirubhai Ambani in July 2002.
Reliance Jio to steal the show: Reliance Jio has developed an impressive customer base of over 20 crore customers. It has reached the mark in record time at the end of May, now close on heels of Idea which has 21.7 crore customers and Vodafone which has 22.2 crore users.
WATCH VIDEO: Reliance Jio to announce the launch of its broadband services
RIL recently came out with its FY18 annual report. Brokerage Edelweiss Securities noted that there was a robust improvement in profitability, operating cash flow (OCF) and return ratios. "This was led by commercialisation of several capex-heavy businesses—RJIO, ROGC & down-stream units and ethane project. Scale up of aforesaid capacity along with commissioning of pet coke gasification project is likely to yield significant operating leverage benefits," the brokerage said.
JioFiber FTTH broadband services: Key details
- Broadband services have been in testing phase since 2016.
- The services could be first launched in big cities like Delhi, Mumbai, expanding to all cities by year end.
- Industry watchers hope consumers will get 100GB data at 100Mbps speed each month.
- Security deposit of Rs 4500 could be required for Optical Network Termination unit (ONT)
- ONT will fecilitate internet, cabel, landline, home automation and home surveillance services
Reliance Industries share price: At 9:55 am, RIL share price was trading at Rs 1004.75, up 1.5 per cent. The stock is just 3 per cent away from its lifetime high of Rs 1004, hit on June 21, 2018.
WATCH VIDEO: Reliance Industries AGM today; expected key announcements
Reliance Industries AGM today; what's in store in for Mukesh Ambani, Reliance Jio; find out here
All eyes will be watching the Mukesh Ambani backed Reliance Industries on Thursday when the company holds its 41st Annual General Meeting (AGM). Ahead of this meet, the share price of RIL finished at Rs 990.05 per piece, up by 1.90%. Everyone is expecting that RIL will announce key strategies for its telecom arm Reliance Jio. Since inception, RJio, with its free offers, cheap data packs and unlimited calling has given sleepless nights to other telcos like Airtel, Vodafone, Idea Cellular and even PSU BSNL . The 41st AGM meet of RIL will begin at 11:00 am.
Reliance Industries AGM 2018: Reliance Industries’ 41st annual general meeting will kick off at 11:00 am. All eyes are on Mukesh Ambani, Chairman and Managing Director, RIL who is expected to announce the commercial launch of JioFiber FTTH broadband services, seek approval on fund raising and discuss plans to expand retail business of the company.
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