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		<img align="" alt="Mukesh Ambani -42nd AGM" class="imgCont" height="464" src="https://bsmedia.business-standard.com/_media/bs/img/article/2019-08/12/full/1565594028-9736.jpg" style="border: 1px solid #DDD; margin-right: 10px; padding: 1px; float: left; z-index: 0;" title="Mukesh Ambani -42nd AGM" width="620">
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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 Jio is setting up a pan-India Edge Computing and Content Distribution network: Mukesh Ambani

NEWS ALERT | Over the next 12 months, Reliance Jio will install one of the largest blockchain networks in the world in India: Mukesh Ambani

NEWS ALERT | Aim to complete Jio fiber rollout in the next 12 months: Mukesh Ambani

NEWS ALERT | Jio Fiber customers will get access to First Day, First Show at movies: Mukesh Ambani

NEWS ALERT | Jio launches unlimited calling pack to US, Canada for Rs 500/month

NEWS ALERT | Investing in 14 technology start-ups: Mukesh Ambani at 42nd AGM

NEWS ALERT | Jio Fiber customers to get free HD/4K LED TV as launch offer: Mukesh Ambani at 42nd AGM

NEWS ALERT | Jio's base plans will start at 100 mbps, and can go up to 1000 gbps: Mukesh Ambani

NEWS ALERT | Introducing unlimited international calling at Rs 500/month: Mukesh Ambani

NEWS ALERT | Jio Fiber will suit every sector, segment: Mukesh Ambani

NEWS ALERT | Jio Fiber to be priced at Rs 700 - Rs 10,000 per month: Mukesh Ambani

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NEWS ALERT | Jio Fiber has capability to reach 1000 bps: Mukesh Ambani

Akash Ambani plays soccer to show Jio set top box supports gaming

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NEWS ALERT | Zero latency gaming platform will be provided with the Jio GigaFiber: Akash Ambani.

NEWS ALERT | Jio GigaFibre is Mixed Reality enabled: Isha Ambani

-- MR is mix of Augmented Reality and Virtual Reality