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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 | JioFiber to provide MSMEs cloud connectivity

NEWS ALERT| Designed Jio Set Top Box to accept broadcast signals from LCOs: Mukesh Ambani

NEWS ALERT | Jio fiber to empower 2.4 million small, medium enterprises: Mukesh Ambani

NEWS ALERT | Jio Fiber Services to be launched on commercial basis on 5th September 2019: Mukesh Ambani

-- On the third anniversary of #JIO&rsquo;s launch.<br />
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-- Plan to reach 20 million residences and 15 million business establishments in 1,600 towns

NEWS ALERT | Jio aims to connect 1 billion homes via IoT: Mukesh Ambani at 42nd AGM

NEWS ALERT | Annual revenue opportunity for Jio from IOT is Rs 20,000 crore: Mukesh Ambani

NEWS ALERT | Will complete Jio fiber roll out in 12 months: Mukesh Ambani

Home broadeband services : Plans to reach 20 min residences and 15 mn biz establishments: Mukesh Ambani

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NEWS ALERT | Jio's commercial IoT services will be available from 1st Jan, 2020: Mukesh Ambani

NEWS ALERT | Revenue from new growth engines will start from next financial year: Mukesh Ambani

NEWS ALERT | Jio has developed 'Internet of Things' on its platform across India: Mukesh Ambani

NEWS ALERT | Before Jio India was data dark, now it is Data Shining: Mukesh Ambani

Jio signing 10 mn new customers every month

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NEWS ALERT | Investment cycle of Jio is complete: Mukesh Ambani

NEWS ALERT | Focusing on augmenting production of methane, BP JV will help: Mukesh Ambani