RIL AGM: Jio GigaFiber services from Sept 5; Aramco to invest $15 billion

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.

10:43 AM

Reliance Jio GigaFiber: Data plans, services and more

After running trials at select cities, Mukesh Ambani-owned Reliance Jio’s broadband service Jio GigaFiber is expected to commercially launch on August 12. Announced last year at the Reliance Industries annual general meeting, the service was initially touted to launch in 1,100 cities simultaneously. The company also claimed that the service would offer internet speed of up to one gigabyte per second (Gbps) and support additional services such as television, landline, smart home automation, etc. READ MORE

10:41 AM

Mukesh Ambani's Reliance Retail to sell Hamleys products in India

Reliance Brands, the subsidiary of Reliance Industries, has plans of selling Hamleys products through Reliance Retail apart from the 88 Hamleys exclusive stores, a top official has told Business Standard. “We are already selling some of these (Hamleys) products in some of our smart stores. The pilot is at an initial stage,” said Gaurav Jain, head of corporate business development at Reliance Retail, adding the Hamleys chain would continue to operate. READ MORE

10:39 AM

Can RIL slip below Rs 1,000 levels? Here's what technical charts suggest

Reliance Industries (RIL) breached the 200-day moving average (DMA) after February 2017 in trade on Wednesday. The stock is one of the strong constituents of benchmark indices that has a weightage of 8.93 per cent. It ranks second after HDFC Bank that has a weightage of 10.99 per cent in the Nifty 50. READ MORE

10:34 AM

Telcos performance diverging in face of Reliance Jio's growth: Fitch

Reliance Jio's aggressive posturing has begun to show the divergent impact on entrenched telcos, with Vodafone Idea getting impacted sharply and Bharti Airtel holding on, a report said on Monday.

 

The deep-pocketed Jio's entry has so far impacted all the telcos, forcing mergers and also bankruptcy filings. READ MORE

10:32 AM

Reliance Jio, Bharti Airtel set to bid for RCom's physical assets

The two companies are , however, are not interested in buying spectrum held by RCom, the source said.

 

The NCLT in May superseded RCom board and appointed a resolution to run the company and also allowed the SBI-led consortium of 31 banks to form a committee of creditors. READ MORE

10:29 AM

JioPhone loses ground in rural areas as smartphones gain popularity

Industry insiders feel used smartphones are gaining popularity in the hinterland, the main market for JioPhone. Recent data from Counterpoint Research showed the share of JioPhone in the featurephone market had shrunk from 47 per cent in the second quarter of 2018 to 28 per cent a year after. READ MORE

10:27 AM

RIL brings Tiffany to India, plans to open stores in Delhi and Mumbai

The tie-up comes as Reliance, which is run by Asia's richest man Mukesh Ambani and runs a sprawling conglomerate, bolsters its consumer-focused units such as retail and telecoms to match the strength of its dominant oil and gas business. The company bought British toy retailer Hamleys earlier this year. READ MORE

10:24 AM

Let’s take a look at what is expected from Jio GigaFiber:

Refundable deposit

 

Under the preview offer, the Jio GigaFiber broadband services are provided by the company without any cost, but to obtain the connection, user need to deposit a refundable security deposit of Rs 4,500. After the launch, the refundable security deposit is expected to stay. However, there are chances that the company might announce a revised refundable security deposit amount with different services and internet bandwidth as part of package. READ MORE

 

10:19 AM

Good morning

Catch all the live updates from RIL's 42nd AGM