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		Mukesh Ambani -42nd AGM</div></div>

Mukesh Ambani, the chairman of the group announced that Saudi Aramco will invest to take a 20% stake in the group's oil to chemicals (O2C) business at a $75 billion enterprise value.

Mukesh Ambani -42nd AGM

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	Reliance Industries (RIL), the oil-to-telecom conglomerate, made a slew of announcements at its 42nd annual general meeting (AGM) today. Mukesh Ambani, the chairman of the group first announced that Saudi Aramco will acquire a 20 per cent stake the group&#39;s oil to chemicals (O2C) business at an enterprise value of $75 billion. Further, the company announced that it aims to become debt-free company in the next 18 months and plans to list Reliance Jio and its retail business in the next five years.&nbsp;<br />
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	As expected, Mukesh Ambani announced commercial launch of Jio GigaFiber on September 5, 2019 - the third anniversary of Reliance Jio. The plans, Ambani said, will range from Rs 700 to Rs 10,000 per month.&nbsp;<br />
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	That apart, the company said Jio&#39;s commercial IoT (internet of things) services will be available from January 1, 2020. It also announced that the company will complete Jio Fiber roll out in 12 months.&nbsp;</div>
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	At the bourses, RIL has underperformed the market in the quarter ended June 30, 2019 by falling 8 per cent as compared to around 2 per cent rise in the benchmark S&P BSE Sensex. On the financial front, the company had posted a 6.8 per cent increase in its net profit at Rs 10,104 crore for the June quarter on the back of a record 22 per cent jump in revenue at Rs 1.72 trillion. Consolidated debt as of June 2019 was at Rs 2.88 trillion compared to Rs 2.87 trillion as of March 2019. <a href="https://www.business-standard.com/article/companies/ril-q1-net-up-7-at-rs-10-104-crore-jio-retail-boost-revenues-by-22-119072000084_1.html" target="_blank"><strong>CLICK TO READ FULL ARTICLE</strong></a></div>
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RIL AGM: Jio GigaFiber services from Sept 5; Aramco to invest $15 billion

Business Standard

RIL AGM: Jio GigaFiber services from Sept 5; Aramco to invest $15 billion | News on Markets - Business Standard

NEWS ALERT | Reliance Retail has crossed Rs 1.3 lakh crore revenue last year: Mukesh Ambani

NEWS ALERT | Purpose of New Commerce is to transform unorganized retail into organised retail: Mukesh Ambani

-- New commerce is a $700 bn biz opportunity, says Mukesh Ambani at RIL AGM

NEWS ALERT | Today, Reliance Retail is the only Indian retailer to be ranked in the Global 100 top retailers: Mukesh Ambani

NEWS ALERT | In 5 years, we aim to be among top 20 retailers in the world: Mukesh Ambani

-- &quot;Proud to own a global leader in premier children toy category: Mukesh Ambani

NEWS ALERT | Reliance Retail is larger than all major retailers put together: Mukesh Ambani

-- Consumer businesses contribute 32% to EBITDA

NEWS ALERT | Urge start-ups to register for custom design package at the Reliance Jio  website: Mukesh Ambani

--&nbsp;80% of investments by start-ups go into cloud solutions. Jio will provide that connectivity free to all start-ups in India

NEWS ALERT | Reliance Retail has brought Retail revolution in India: Mukesh Ambani

Jio & Microsoft will together set up new cloud data centres in India: Satya Nadella

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NEWS ALERT | To provide Jio Connectivity and Apps to start-ups at Rs 1500/month: Mukesh Ambani

Jio and Microsoft will jointly offer Microsoft 365: Microsoft CEO Satya Nadella

- Partnership with Jio is key to our vision: Satya Nadella<br />
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NEWS ALERT | Jio to make cloud-investments free for budding start-ups: Mukesh Ambani

NEWS ALERT | Jio and Microsoft will partner to provide cloud-based solutions: Satya Nadella, CEO, Microsoft

NEWS ALERT | Jio-Microsoft ink alliance; Jio to setup data centers across India, Microsoft to being cloud platform

Jio Fibre Welcome offer: Mukesh Ambani announces HD/4K television set & 4K set top box with Jio forever annual plans

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