RIL AGM: Mukesh Ambani seconds irked shareholder's view

Daniel Fowler
August 13, 2019

"Our long term partnership combines the power of Azure, Azure AI and Office 365 with Jio's connectivity and digital solutions, which are among the most used and fast growing in the world", said Satya Nadella in a statement during the event.

The Jio Fiber service will be launched on September 5. Based on the overwhelming early response, Jio GigaFiber is planned to reach 20 million residences and 15 million business establishments across the initial 1,600 towns. This will be made available from June 2020. The pricing will range between Rs 700 per month to Rs 10,000 per month.

Reliance Jio GigaFiber, or Reliance Jio Fiber as it is now known as, is all set to revolutionize the Indian broadband industry in the same manner as Jio revolutionized 4G.

It was widely-expected that he would spell out the details of the commercial roll-out of Jio Giga Fiber at Monday's AGM. We reiterate our target price of Rs 1,400, which includes valuation of core segments at 7.5x FY21 EV/EBITDA, Jio at Rs 230/share and Retail at Rs 414/share, said analysts at Motilal Oswal Financial Services (MOFSL) in a post-AGM note.

The Jio Set-Top Box will rely on the broadband connection and is a combination of a gaming console. Jio also unveiled affordable global calling rates like US/Canada pack priced at Rs 500 per month. The RIL Chairman clarified that these products will be absolutely free with the Jio Forever Plan or Jio Fiber Welcome offer. Aiming to get an instant wide adoption, Jio is offering free HD or 4K TV and 4K set-top-box with annual Jio Fiber data plans.

South Korea's Hur ends LPGA drought with Scottish Open triumph
After playing the first eight holes in 1-over par, Hur had four straight birdies from the ninth and also birdied Nos. Lee6, a newcomer to links golf, won the U.S.

Mukesh Ambani posed for shutterbugs, flanked by the women in his life, mother Kokilaben and wife Nita.While Nita Ambani opted for a pastel pink suit paired with strings of pearls and diamond earring, the Reliance matriarch - who has been a regular face at the AGMS over the years - was dressed in a floral saree, complemented by a pendant featuring Lord Shrinathji in a chain of pearls.

Additionally, the STB will support UHD content (4K), voice-enabled virtual assistants, and even offer smart home controls. Reliance Jio also introduced a multiplayer online network. The executives majorly showcased three use cases, namely shopping, education, and entertainment. It is touted to be available for purchase in the coming future with an "extremely affordable price".

Speaking at the AGM, Mukesh Ambani said, "for the first time in the Indian market, Reliance has come up with a disruptive concept of watching new movies". And now India's richest man and RIL chairman Mukesh Ambani has announced far grander plans to leverage this Distributed Ledger Technology, which rose to prominence as the underlying technology for Bitcoin.

"Premium JioFiber customers will be able to watch movies in their living rooms, on the same day of their release". It has declared that the landline rates for worldwide calling will be the "lowest", and its plans will come bundled with subscriptions to most leading premium OTT applications.

Other reports by

Discuss This Article

FOLLOW OUR NEWSPAPER