7 years ago
Reliance Industries chairman Mukesh Ambani addressed the company’s shareholders at its 40th AGM or annual general meeting on Friday, at Birla Matushri Sabhagar in Mumbai. Dedicating the group’s 40 years of achievements and records to founder chairman Dhirubhai Ambani, Mukesh Ambani said: “RIL's market cap has grown from Rs 10 crore in 1977 to over Rs 5 lakh crore now.” On Reliance Industries’ telecom arm, Reliance Jio Infocomm, Mr Ambani said team Jio has stunned the world, over delivering on “the 100 million target I had set for them”.
Mr Ambani also announced the launch of ‘JioPhone’, a phone with 4G-enabled features. JioPhone will be available on a first-come, first-serve basis from September, the RIL chairman said. "We are targeting to have 5 million JioPhones a week.”
Mr Ambani also announced the launch of ‘JioPhone’, a phone with 4G-enabled features. JioPhone will be available on a first-come, first-serve basis from September, the RIL chairman said. "We are targeting to have 5 million JioPhones a week.”
Here are Live updates on Mukesh Ambani's address to shareholders at Reliance Industries' AGM:
#RILat40
- Flame of Truth (@flameoftruth) July 21, 2017
As we celebrate the 40th anniversary of our company, it will serve us well to recall our Founder's words of wisdom: Mukesh Ambani
"This year marks the 40th anniversary since our IPO," said Mukesh Ambani. Here's the full text of Mukesh Ambani's speech at the AGM 2017.
Mukesh Ambani with wife Nita Ambani, children Isha Ambani, Anant Ambani, and Akash Ambani 
Mukesh Ambani with his wife Nita Ambani at the company's 40th general meeting 
I assure the people of India that Reliance Industries will do everything to meet the nation's expectations: Mukesh Ambani
#RILat40
- Flame of Truth (@flameoftruth) July 21, 2017
My father also taught us to be humble. And to never forget that the nation expects a lot more from us in the future: Mukesh Ambani
The bonus issue by Reliance Industries - after a gap of over seven years - will boost shareholders' value further, analysts said. (Read more)
Mr Ambani said the bonus issue was the largest ever, in India. Reliance Industries' bonus issue of 1:1 will benefit its 24.63 lakh shareholders.
This means every Reliance Industries shareholder will now get a bonus share for every one share held by them.
At 1:15 pm, Reliance Industries shares were trading 2.59 per cent higher at Rs 1,568.55 apiece on the National Stock Exchange, whose benchmark Nifty index was 0.24 per cent lower. RIL was among the top Nifty gainers.
#RILat40
- Reliance Jio (@reliancejio) July 21, 2017
Our energy & materials businesses constitute a strong platform to reach EBITDA of Rs 100,000 crore in next few years: Mukesh Ambani
Reliance at 50 will certainly become one of the top 50 companies in the world, says Mukesh Ambani
As we march toward the Golden Jubilee of Reliance in 2027, I can confidently say that the Golden Decade of Reliance has begun: Mukesh Ambani
- Reliance Jio (@reliancejio) July 21, 2017
#RILat40
- Reliance Jio (@reliancejio) July 21, 2017
Every minute, 8 smartphones; every hour, 42 laptops and 68 TVs are sold at Reliance Digital: Mukesh Ambani
Reliance Retail crosses annual revenue of Rs 33,000 crore, its Q4 turnover in excess of Rs 10,000 crore, says Mukesh Ambani
#RILat40
- Reliance Jio (@reliancejio) July 21, 2017
We are proud to say that one in every ten Indians shops with us. This year, Reliance Retail crossed Rs 33,000 crores: Mukesh Ambani
Bonus shares reflect my confidence in future of company, says RIL chairman Mukesh Ambani at its 40th annual general meeting
Reliance Industries announces 1:1 bonus issue, shareholders to get one bonus share for every share held
We have invested over Rs 2 lakh crore towards digital initiative: Mukesh Ambani
Reliance Industries trades nearly 2 per cent higher at Rs 1,557 as Reliance Industries' AGM is underway.
100% security deposit of Rs 1,500 will be refunded after 3 years, says Mukesh Ambani on JioPhone
'With this, I am sure Jio will set a new world record': Mukesh Ambani
JioPhone will make 2G feature phones obsolete, says Reliance Industries chief
JioPhone to be available on a first-come, first-serve basis from September, says Mukesh Ambani 
From last quarter of 2017, all JioPhones to be made in India, says RIL chairman Mukesh Ambani. "We are targeting to have 5 million JioPhones a week," he adds. 
Reliance Industries chief Mukesh Ambani says JioPhone to bring digital freedom to all Indians, pre-bookings to start from August 24
Jio to charge a refundable security deposit of Rs 1,500 for JioPhone
JioPhone to be available at an effective price of Rs 0, it is effectively free for Jio users, says Mukesh Ambani 
If these users were to consume similar quantity of data on other networks, they would spend Rs 4,000-Rs 5,000 a month; Jio will provide this at only Rs 153 per month, says Mukesh Ambani at RIL annual general meet
'Starting 15th August this year, I am declaring Digital Freedom for all feature phone users,' Mukesh Ambani said at the group's annual general meeting.
JioPhone to transform lives of feature phone users, : Mukesh Ambani
JioPhone a revolutionary phone, says Reliance Industries chairman Mukesh Ambani at AGM
Later this year, NFC (near field communication) technology will be introduced to JioPhone, says Jio
Entry-level smartphones cost Rs 3,000-Rs 4,500, making them unaffordable for many, says RIL chairman Mukesh Ambani
Jio expanding physical presence across country, says RIL chairman
Jio to cover 99% of country's population in 12 months: Mukesh Ambani at RIL's annual general meeting
More than 50 crore users of feature phones have been left out of digital revolution, says Mukesh Ambani
Today, Jio has more than 100 million paying Jio Prime customers, most have recharged on Jio's Rs 309 or higher plans, says Mukesh Ambani
Bharti Airtel (-3%), Idea Cellular (-4%) extend fall as Jio announces tariff plan for JioPhone
Reliance Industries shares off day's high, up 1.75% against 3.9% gain at day's high
Akash Ambani and Isha Ambani demonstrate features of JioPhone
Telecom shares extend fall: Bharti Airtel down 2.82%, Idea Cellular falls 2.47%, Reliance Communication sheds 0.81%
Data is the oxygen of digital life: Reliance Industries chairman Mukesh Ambani on Jio at group's 40th AGM
Now India is number 1 in mobile data consumption: Mukesh Ambani
Before Jio's launch, India was 155th in the world in mobile broadband penetration: Reliance Industries chairman Mukesh Ambani
India has overtaken China, US in mobile data usage: Mukesh Ambani on Jio at Reliance Industries AGM
Jio users consistently make more than 250 crore minutes of voice and video calls every single day: Mukesh Ambani
This is the fastest adoption of any technology service, anywhere in the world - faster than Facebook, WhatsApp, Skype: Mukesh Ambani
Telecom shares extend fall: Bharti Airtel down 2.82%, Idea Cellular falls 2.47%, Reliance Communication sheds 0.81%
Today Jio has over 125 million customers, says Mukesh Ambani
On an average, Jio added 7 customers per second: Mukesh Ambani
Team Jio stunned the world, they have over-delivered on the 100 million target I had set for them: Mukesh Ambani
Jio has broken one world record after another: Reliance Industries chairman Mukesh Ambani
Want to dedicate these 40 years of achievements and records to our founder Chairman Shri Dhirubhai Ambani: Mukesh Ambani
Rs 1,000 invested in Reliance Industries in 1977 is Rs 16.5 lakh now, says Mukesh Ambani at Reliance Industries' 40th AGM
RIL shareholders' wealth has multiplied every 2.5 years over last 40 years, he adds
RIL's market cap has grown from Rs 10 crore in 1977 to over Rs 5 lakh crore now: Mukesh Ambani
Revenues have grown from Rs 70 crore in 1970 to Rs 3.3 lakh crore now: Mukesh Ambani
From a textile company, we have created multiple growth engines: Reliance Industries chairman Mukesh Ambani at AGM
Reliance Industries (RIL) chairman Mukesh Ambani starts speaking at its 40th annual general meeting
Telecom stocks struggle ahead of Reliance Industries AGM: Idea Cellular, Bharti Airtel down nearly 2%, RCom slips 0.40%
Market update: Nifty near all-time high as Reliance Industries surges 4% ahead of AGM
There were 108.9 million subscribers on Jio's network as of March 31, 2017.
Since commencement of services on September 5, 2016, Jio has added subscribers to its network at an average rate of 6 lakh per day.
On a consolidated basis, Reliance Industries reported a record net profit of Rs 9,108 crore - up 28 per cent year-on-year - on revenues of Rs. 90,0537 crore. 
RIL's net profit was up 8.6 per cent compared with the corresponding period a year ago, while its revenue increased 18.4 per cent to Rs. 70,434 crore.
Reliance Industries' Q1 earnings were supported by higher margins from its core petrochemicals business.
Billionaire Mukesh Ambani-led Reliance Industries on Thursday reported a record standalone quarterly net profit of Rs. 8,196 crore for the April-June quarter.
At 10:31 am, RIL shares were trading 3.5 per cent higher on the National Stock Exchange, whose benchmark Nifty index was up 34 points at 9,907.
Reliance Industries shares rose nearly 4 per cent to touch an intraday high of Rs 1,588 on the National Stock Exchange (NSE).
Reliance AGM 2017 https://t.co/QhY07IPN8e
- Reliance Jio (@reliancejio) July 21, 2017
The Rs 399 recharge voucher, available to new as well as existing members of its paid Prime service, also included free voice calls and MyJio app services.
After seven months of free services, Jio decided to charge for its services from April this year. In March 2017, Jio introduced the Prime program wherein customers could subscribe by paying a one-time fee of Rs 99.
Earlier this month, Jio extended the benefits of its Dhan Dhana Dhan offer with new plans. Priced at Rs. 399, a new recharge option offered by Jio came with 1 GB of high speed 4G data per day for 84 days.
These 4G feature phones are likely to be priced between Rs 1,000 and 1,500, the agency reported, citing industry sources.
"Reliance has not yet finalised actual unit price of the feature phones, but it is likely to be in the range of Rs 1,000-1,500 a unit. It will be smart feature phone with pre-loaded apps of Reliance Jio like Jio TV, Jio Money etc," Press Trust of India reported, citing one of the sources who did not wish to be named.
Reliance Industries plans to sell 200 million 4G feature phones in two years, news agency Press Trust of India reported on July 19, citing industry sources.
Although Jio started charging for its mobile services from April 1 under its 'Prime' scheme, it continued to offer free voice calls and aggressively priced data tariffs.
Reliance Jio launched 4G services commercially on September 5 last year. It signed up its first 50 million subscribers in 83 days, and 100 million in 170 days.
Reliance Jio's board has decided, at a meeting held on July 20, 2017, to make the rights issue of four billion convertible preference shares of Rs 10 at a premium of Rs 40 per unit, the filing noted. (Read more)
We are all set to unfold a new chapter of the #JioDigitalLife. Join us at the Reliance AGM 2017, tomorrow at 11 AM. #RILAGM2017 pic.twitter.com/1nqd5z9nKx
- Reliance Jio (@reliancejio) July 20, 2017
Reliance Jio will raise Rs 20,000 crore through a rights issue to meet its funding requirements. This was said by Reliance Jio in a regulatory filing on Thursday.
A rights issue is an issuance of shares to a company's existing shareholders in the proportion of their existing holdings.
