Mukesh Ambani is expected to make some major announcements on Thursday when he speaks at the company’s 41st Annual General Meeting (AGM).
Mukesh Ambani, the Chairman of Reliance Industries (RIL), is expected to make some major announcements on Thursday when he speaks at the company’s 41st Annual General Meeting (AGM). Consumers and investors alike are eagerly waiting for the launch of JioFiber, the broadband business of telecom subsidiary, Reliance Jio Infocomm. Last year’s annual general meeting of Reliance Industries marked the launch of JioPhone, Reliance Jio’s feature phone, which was made available for a refundable deposit of Rs. 1,500. This year again all eyes will be on Mr Ambani, who will start speaking in Mumbai from 11 am.
Media reports suggest that Reliance Industries will foray into broadband market with the launch of JioFiber FTTH, which is already being tested. JioFiber connectivity comes directly to homes unlike in cases where the fiber reaches only till the building. The last mile connectivity then is done via traditional cable, which reduces internet speed. But JioFiber will bring the broadband connectivity right till your house. Reportedly, broadband services from Reliance Jio will offer an internet speed of 100 Mbps.
Brokerage house CLSA said in a recent report that if Reliance Industries reveals its e-commerce plans, it could lead to a re-rating of the stock.
Even as Mr Ambani will be speaking at the AGM, a live video can be seen simultaneously on the following: YouTube: Flame Of Truth Channel (https://www.youtube.com/user/flameoftruth2014), Jio Channel (https://www.youtube.com/jio); on Facebook Reliance Industries Limited page (https://www.facebook.com/RelianceIndustriesLimited) and Jio (https://www.facebook.com/Jio) page; on Twitter @FlameOfTruth (https://twitter.com/flameoftruth), @RelianceJio (https://twitter.com/reliancejio); and on Jio TV.
On Wednesday, the shares of Reliance Industries ended 2.03 per cent higher on the National Stock Exchange, and 1.90 per cent higher on the Bombay Stock Exchange.
Last week, Reliance Industries announced that it will acquire American firm Radisys, which provides open telecom solutions to service providers worldwide, at US$1.72 per share in cash.
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