Reliance AGM LIVE updates: Reliance Jio ready to converge with 5G at minimum incremental investment, vows Mukesh Ambani

Reliance Jio eyes Rs 20,000 crore market in its IOT platform, confirms Mukesh Ambani in his 42nd Reliance Industries AGM speech.

Talking upon the 5G network, the Reliance Jio is set to converge with 5G network at minimum incremental investments, vows Mukesh Ambani.

Reliance Jio has crossed 340 million subscribers and still, it is adding 10 million per month in its subscribers base.

India is a $2.5 trillion economy and 3-5 per cent of its GDP is spent on the Digital Services and Reliance Jio is well placed to take advantage of this status.

Reliance Industries to invest Rs 35,000 crore at KG D6 basin to explore natural gas.

Reliance Industries and BP inks an agreement. BP to participate in RIL petroleum retail business. RIL to get Rs 7,000 crore in return from this deal.

Fundamental of Indian economy is sound and stable and so does the fundamentals of Reliance Industries, says Mukesh Ambani.

Future of India is the future of Reliance. As India is transforming, the Reliance Industries has to transform itself to fulfill Prime Minister Narendra Modi's target of making India a $5 trillion economy, says Mukesh Ambani. 

Reliance Industries continues to remain number one exporter of India with exports to 107 countries accounting for around 9.8 per cent of the net Indian exports, say Mukesh Ambani.

Jio crossed 340 million users, becomes fastest growing telecom compnay, says Mukesh Ambani.

Stock market experts are of the opinion that RIL share price would continue to trade range-bound between Rs 1,130 to Rs 1,210 per stock levels.

Reliance AGM won't have much impact on the Reliance Industries or RIL share price as its Q1FY20 numbers have already made the company's plans clear to the stock market investors.

The AGM will be held at Birla Matushri Sabhagar near Bombay Hospital & Medical Research Centre in Mumbai. It will begin at 11:00 am. The Reliance AGM live streaming online will be available on company's Twitter, Facebook and YouTube channels. You can also catch all the live updates at ZeeBiz.com and Zee Business TV.

Market experts are of the opinion that Reliance AGM may unveil some road map for the 5G as there would be a major rivalry between Reliance Jio and Bharti Airtel in coming days and Airtel has already started to make a plan for near Rs 2.5 lakh crore to Rs 3 lakh crore, that it would require post-5G launch.

Since making its debut, Reliance Jio has been a massive hit among the Indian mobile users. The company has rolled out two smart feature phones in the last three years which offer 4G mobile internet and access to popular apps such as YouTube and WhatsApp. This year, Reliance is expected to announce another phone.

The focus will also be on RIL’s rising debt as the company’s finance cost has more than doubled to Rs 16,495 crore in this fiscal from Rs 8,052 crore in the previous year. “The increase was primarily on account of the commencement of digital services business, petrochemical projects at Jamnagar and higher loan balances," RIL said in its annual report.

In July, Mukesh Ambani had said that the beta trials of Jio GigaFiber services had been very successful. He had hinted that the service would be rolled out to targeted 50 million households and beyond. "Wireline network connectivity in India continues to remain undeserved. Jio is working towards serving the need for better connectivity with its GigaFiber services. Jio, with its FTTH services, has set a target of connecting 50 million homes across the country," his letter to shareholders said.