RIL AGM LIVE: Mukesh Ambani to remain CMD for 5 years, mentor new leaders

RIL AGM: From Mukesh Ambani's address to major announcements, check all the live updates and news related to Reliance's 46th annual general meeting here

4:01 PM

RIL AGM news: Mukesh Ambani to remain chairman and MD for the next 5 years

Reliance AGM: Mukesh Ambani will remain the chairman and managing director of Reliance Industries for next five years. He will continue to mentor new leaders, including his children.

3:36 PM

RIL AGM news: MNACC saw 2 million visitors since launch

Reliance AGM 2023: Nita Mukesh Ambani Cultural Centre saw 2 million visitors since its launch in March, says Nita Ambani.

3:34 PM

RIL AGM 2023: Reliance becomes India's largest BioEnergy producer

Mukesh Ambani says, "We have become India’s largest BioEnergy producer. We commissioned first commercial scale CBG plant at Barabanki in UP. We target to establish 100 CBG plants in next 5 yrs, consuming 5.5 mn tonnes of agro-residue and organic waste."

3:21 PM

Reliance AGM: Reliance aims to set up 100 CBG plants in India in next 5 years

RIL AGM 2023: Aim to set up 100 compressed biogas plants in next five years, says Ambani

3:19 PM

RIL AGM 2023 news: Shares of Reliance Industries, Jio Financial Services Ltd fall

RIL AGM News: Jio Financial Services Ltd (JFSL) shares fall to Rs 209 apiece, 1.53 per cent in the red. They were trading in the green before 2 pm. The share of RIL were also trading 1.1 per cent in the red at Rs 2,440 per share as of 3:15 pm. 

3:16 PM

Reliance AGM 2023: RIL to start battery giga factory by 2026

RIL AGM 2023: RIL to start a battery giga factory in India by 2026. It will include a battery recycling facility, Mukesh Ambani said. 

3:04 PM

RIL AGM 2023: JFSL launched to fill gaps in financial services in India, says Ambani

RIL AGM news: JFSL has been launched to fill gaps in financial services sector in India, says Mukesh Ambani. JFSL products will explore blockchain-based platforms and CBDC.

2:52 PM

Reliance AGM 2023: Reliance Retail only Indian retailer in global top 100, says Ambani

RIL AGM news: Reliance Retail is only Indian retailer in the global top 100, and one of fastest growing retailers in world, says Mukesh Ambani.

2:45 PM

Reliance AGM 2023: Mukesh Ambani promises 'AI for all'

Reliance AGM 2023: Ambani said that years ago the company promised "broadband for all" and "it delivered". 

 

"Now it is promising 'AI for all'," he said.  

2:43 PM

Reliance AGM 2023: Augmenting global talent pool for advances in AI, says Ambani

RIL AGM: Ambani said that the company is "augmenting talent pool to assimilate global advances in artificial intelligence (AI), especially generative AI. 
 

"Jio wants to lead the effort in developing India-centric AI models," he said. 

2:37 PM

Reliance AGM 2023: Expanding addressable market to 200 million using Jio Air Fiber, says Akash Ambani

RIL AGM: Akash Ambani, Chairman, Reliance Jio, says that the Jio Fiber service already serves 10 million customers, with thousands getting connected each month. "With Jio AirFiber, we are expanding our addressable market to 200 million homes and other premises," he said.

2:24 PM

RIL AGM 2023: Jio AirFiber to launch on September 19

RIL AGM: Jio AirFiber will launch on the auspicious occasion of Ganesh Chaturthi on September 19 this year, says Mukesh Ambani

2:19 PM

Reliance AGM 2023: Nita Ambani to step down from company's board

RIL AGM 2023: In a regulatory filing, RIL said that Ambani scions Isha, Akash and Anant have been appointed on board of the company. Nita Ambani to step down from the board. She will continue as the chairperson of Reliance Foundation.

2:16 PM

Reliance AGM 2023: Jio adding one 5G smartphone in its network every 10 seconds, says Ambani

RIL AGM: Ambani says, Jio 5G is already present in 96 per cent of all census towns in India. The roll out will be completed by December. It is the fastest ever 5G rollout anywhere in the world. 

He added that 85 per cent of all 5G phones operational in India are under Reliance Jio. It is adding one 5G phone to its network every 10 second. The company will have 1 million operational 5G phones under its network by December this year.  

2:11 PM

Reliance AGM 2023: Reliance added 260,000 direct jobs in India last year, says Ambani

RIL AGM: Ambani says, "Reliance added 260,000 direct jobs in India across all its business last year. Its total number of employees stand at 390,000." 

2:08 PM

RIL AGM 2023: Invested $150 billion in last 10 years, says Ambani

RIL AGM: Mukesh Ambani says the company has invested $150 billion in last 10 years in India, higher than any of its domestic peer. 

2:05 PM

RIL AGM 2023: Mukesh Ambani congratulates Isro scientists for Chandrayaan-3

Mukesh Ambani congratulates the scientists of the Indian Space Research Organisation for the success of Chandrayaan-3. 

2:04 PM

Reliance AGM 2023: Mukesh Ambani starts addressing the shareholders

RIL AGM 2023: Mukesh Ambani has started addressing the shareholders at the company's 46th annual general meeting. 

1:36 PM

Reliance AGM 2023: Shareholders can now join the 46th annual general meeting

RIL AGM: Shareholders and investors can now start joining the live streaming of Reliance's 46th annual general meeting on https://jiomeet.jio.com/meetingportal/rilagm/joinmeeting. 

 

They need to fill in their details to log in.

1:17 PM

RIL AGM 2023: JioMart using WhatsApp witnessing strong growth

Reliance Retail last year announced that customers would be able to order groceries on WhatsApp, as tech giant Meta and Jio Platforms collaborated to launch JioMart on the popular messaging platform. 

 

Sandeep Varaganti, CEO, JioMart, this year said that JioMart, the e-commerce arm of Reliance Retail, has been recording a 30-40 per cent month-on-month growth in its business via WhatsApp, since the launch of the partnership last year.

1:15 PM

RIL AGM 2023: Key announcement around Jio AirFiber likely

Jio AirFiber rollout plan is expected to be announced at the upcoming Reliance AGM today. Airtel Xstream AirFiber is the only other commercial FWA service in India and is currently available in Delhi and Mumbai at Rs 799 per month.

1:11 PM

RIL AGM 2023: 5G rollout may get completed before December 2023

RIL AGM: In a statement, Reliance Jio said it has deployed over 115,000 5G sites and nearly 690,000 5G cells across the country. It claimed that its fifth-generation network rollout is significantly ahead of its plan.

 

According to RIL's investor presentation for Q1FY2, Jio has covered over 90 per cent of census towns withits 5G network. The telecom operator is now aiming to conclude its 5G rollout ahead of its earlier target of December 2023.

12:56 PM

RIL AGM 2023: Mukesh Ambani has big plans for renewable energy

RIL AGM: Mukesh Ambani is also planning to produce the world's cheapest green hydrogen, responding to calls from Prime Minister Narendra Modi for India to become a global hub for renewable energy. Reliance is pursuing an aggressive target to produce it at $1 per kilogram by the end of this decade.

12:53 PM

RIL AGM 2023: Jio ends its cheapest data plan of Rs 199

RIL AGM: Last week, Reliance Jio announced that it is discontinuing its cheapest prepaid recharge plan of Rs 199. It encompassed unlimited voice calling, a daily data allocation of 1.5GB, and the ability to send 100 SMS per day. It, however, had a relatively short validity period of 14 days.

 

Now, its cheapest plan is for Rs 149. It plan offers a validity period of 20 days. 

12:24 PM

RIL AGM 2023: Jio's prepaid plan with Netflix a global first

RIL AGM: Earlier this month, Reliance Jio announced the launch of Jio prepaid plans bundled with a Netflix subscription. It marked the first occasion globally that a Netflix subscription is being offered within a bundled prepaid plan.

 

Jio already provides a bundled Netflix subscription with select Jio Postpaid and Jio Fiber plans.

 

The new prepaid plan is priced at Rs 1,099 and comes with an 84-day validity period, 2GB of data per day, unlimited voice calls, and unlimited 5G data. In comparison to this offering, Netflix's cheapest plan in India, known as Netflix Basic, currently costs Rs 149 per month or Rs 1,788 per year and is mobile-only.

 

The announcement becomes more significant with the company's plans of an IPO of Jio Infocomm.

12:02 PM

Reliance AGM 2023: Jio continues to have highest subscribers in India

RIL AGM: Reliance Jio has continued to gain subscribers base, outperforming Bharti Airtel in the race to take Vodafone Idea's subscribers, according to data released by the Telecom Regulatory Authority of India (Trai) for May.

 

Jio added nearly three million new subscribers during the month of May, more than twice as compared to Airtel, which added 1.3 million subscribers in the same period. Vodafone lost 2.8 million subscribers.

 

Reliance Jio continues to hold its position as the top wired (8.92 million) and wireless (436.31 million) broadband service provider in India with 51.96 per cent of the market share.

More about it here

11:41 AM

RIL AGM 2023: All eyes on Jio Phone and Jio Bharat

At the 46th annual shareholders' meeting, investors will also keep an eye on any updates on the JioBharat 4G phone, which was launched at Rs 999 earlier this year.

 

With the introduction of the "Jio Bharat" phone platform, Reliance Jio aims to spearhead the campaign for a "2G-free India". This platform is specifically designed to empower the 250 million feature phone users in the country by providing them with access to internet-enabled phones, thereby, bridging the digital divide.

11:34 AM

RIL AGM 2023: Ahead of 46th annual general meeting, RIL flat, Jio Financial in the green

RIL AGM: On Monday, the shares of RIL were trading flat at Rs 2,470 apiece on BSE. The shares of Jio Financial Services Ltd were trading 2.5 per cent in the green at Rs 217.60 apiece.   

11:01 AM

RIL AGM 2023: Key announcements on new energy business expected

RIL AGM: Last year, RIL had committed to $10 billion of investment in the new energy business over the next three years. It also set a target of becoming net carbon zero by 2035.

 

So, investors can expect an update on the progress of various projects in new energy business. This will include commissioning timelines and the estimated earning potential of these projects.

10:54 AM

Reliance AGM 2023 today: Key takeaways from last year's annual general meeting

In RIL AGM 2022, Ambani made several noteworthy announcements. Here are some of those:

1. Launch of Jio 5G in metro cities like New Delhi, Mumbai, Kolkata and Chennai on Diwali. Its further plan is to cover the entire nation in 18 months till December 2023.
2. Launch of JioAirFibre for fibre-like data speed without wires.
3. Announcement of its new FMCG business under Reliance Retail. Tie-up with Meta to launch JioMart on WhatsApp.
4. Investment of Rs 75,000 crore in oil-to-chemicals business in next three years.
5. A 100 GW Solar PV cell and module manufacturing facility at Jamnagar to start production by 2024.

Check complete details here