Jio announces an array of communication and entertainment devices.
Its plans, to cut tariffs by 40% or offer more data, comes bundled with 1 GB high speed data for 28 days with unlimited voice thrown in.
Competitive price will face stiff challenge from incumbents such as DD Free Dish
Mukesh Ambani's Reliance group has struck acquisition deals worth $4.2 billion with a dozen companies in just two years to expand its retail business. The latest purchase was of a majority stake in Justdial for Rs 3,497 crore. Elaborating on his acquisition strategy a few weeks ago during the AGM, Ambani stated that one of the key planks would be to acquire businesses that enhanced Reliance's offerings and experiences to customers and that they would be both physical and digital.
As part of its expansion plans, Jio has announced the roll-out of Internet of Things (IoT) services in association with Samsung, which will help consumers and enterprises.
Three different invitations were sent out for the wedding and the receptions with top-run guests being sent a large red box that contained an intricate chest incorporating a mini silver temple featuring gold idols of various Hindu deities, including Lord Ganesh, Radha-Krishna, and Goddess Durga.
The incumbent operators faced the onslaught of free offers and cheaper rates from Jio.
The Ambanis sure know how to throw a party.
Supreme Court had asked the government to issue RCom a NoC for spectrum sale to Reliance Jio Infocomm by December 9 if it furnishes a corporate guarantee of Rs 1,400 crore
Its trajectory in telecom is well known but now it is pushing for a similar leap into the ranks of the top players in its other businesses: media and entertainment, e-commerce, a series of online businesses ranging from health to education, and retail.
Reliance Jio accuses COAI of malafide intention.
Billionaire Mukesh Ambani on Monday pressed for bridging the digital divide "both among nations and within nations", saying connectivity and communications have become the fundamental rights of every person. Also, there is a need to bring back the economies around the globe. Speaking at the Qatar Economic Forum, he said it is difficult to imagine what India would have been without the 4G telecom network during the pandemic. "The digital divide must be bridged, both among nations and within nations.
bp had last year bought 49 per cent stake in the 1,400-odd petrol pumps and 31 aviation turbine fuel stations owned by RIL for $1 billion.
According to documents accessed by Business Standard, RIL increased its direct stake in Jio to 98.9 per cent as on March this year by pumping more capital into the company.
In the third infrastructure sharing agreement between firms run by brothers Mukesh and Anil Ambani, Reliance Industries' telecom arm has agreed to use Reliance Communication Ltd's intra-city fibre network to roll out 4G services.
Says, Jio unlikely to gain 2% revenue market share in 2017
Reliance group firm employee under the scheme can invite 10 people to buy Jio's 4G sim and LYF Handset.
From January 1, all these iPhone users will get the Rs 1,499 plan completely free for 1 year, which equals value worth Rs 18,000
With the latest spectrum acquisition, the telecom venture would be the holder of the largest quantum of liberalised spectrum.
Paramount Global has agreed to sell its 13 per cent stake in its Indian TV business to Reliance Industries for Rs 4,286 crore, the Indian firm said on Thursday. In a stock exchange filing, Reliance said it has signed a binding agreement with two subsidiaries of Paramount Global to acquire 13.01 per cent equity stake of Viacom 18 Media Private Limited held by Paramount Global. Similarly, in a filing on the US Securities and Exchange Commission (SEC), Paramount Global said the closing of the transaction is subject to the satisfaction of certain customary conditions, including receipt of applicable regulatory approvals, as well as the completion of a previously announced joint venture involving Reliance, Viacom18 and Star Disney.
The amount from securitisation has been utilised to repay rupee debt, saving significant interest costs for the company.
Speaking at a fireside chat with Microsoft CEO Satya Nadella, he said the big change driving this transformation was the deepening of mobile networks which were working at a much faster pace than before.
While Ambani, 66, drew nil salary from the company since the 2020-21 fiscal year, other executive directors including his cousins Nikhil and Hital are paid a salary, perquisites, allowances and commission. His three children - twins Akash and Isha (both 31) and Anant (28 years) - will get only a sitting fee and a commission on the profit earned by the firm.
RIL is setting up infrastructure for a full-fledged horizontal e-commerce offering - internally called the New Commerce - to simultaneously launch pan-India by October-November.
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Jio will woo consumers with new products as well as technology, offering them quadplay services - TV, data, voice and mobile - seamlessly working across the platforms, with a single bundled offer and just one bill.
A typical consumer will have to opt for Jio's Rs 499 plan, which is a steep 2.5 times more than what the average user pays at present.
Global investment management firm Bernstein has pegged the enterprise valuation of Reliance Industries (RIL)'s 85 per cent stake in Reliance Retail at $111 billion, while valuing the Mukesh Ambani-led company's 66.5 per cent stake in telecom and digital platform arm Reliance Jio at $88 billion. Reliance Industries had earlier planned to list both its subsidiaries to unlock value for its shareholders but hadn't fixed any timeline. The report said that Reliance Retail had raised $6 billion by diluting a 10.1 per cent stake, while Jio Platforms raised $20 billion from investors by selling 33 per cent in 2020.
Jio, which launched its services in September, had no revenue from operations during October 2016 to March 2017
RIL is also set to file its tariff plans, which will mark the company's intent to commercialise Jio's operations, with the regulator this week
Airtel rolls out fourth-generation (4G) data service across 296 cities.
Reliance Jio to take over mobile business assets of troubled RCom at an estimated value of Rs 24,000-Rs 25,000 crore.
Analysts cautious on outlook, expect earnings to remain under pressure over medium term.
Defending champions Chennai Super Kings clash against Gujarat Titans in a repeat of last season's final in the IPL 2024 match in Chennai on Tuesday.
Voice calling will be free on Jio phones for life and post December 31, 10 data plans will be offered
Jio and Ericsson tested the limits of 5G by demonstrating multi-gigabit speeds and super-low latency capabilities that are making new offerings such as remote control of machines and 360-degree 4K video streaming.
Trai has said the three operators were "intentionally denying and delaying" the provision of points of interconnects (PoIs) to Jio, "only to restrict a new entrant thus violating the terms and conditions of licence and regulations of the Authority which also caused a lot of inconvenience to the consumers."
On Monday, Ambani had said the Reliance group was open to join hands with Bharti Airtel for improving telecom network for 4G services in Punjab.
Reliance Industries Ltd on Friday reported an 11 per cent drop in its June quarter net profit largely due to weak oil-to-chemical (O2C) vertical and higher interest and depreciation cost. Net profit was Rs 16,011 crore, or Rs 23.66 per share, in April-June - the first quarter of current 2023-24 fiscal year - compared with Rs 17,955 crore, or Rs 26.54 a share, earning a year back, according to a company's stock exchange filing.
Das will 'mentor the Jio Division of Reliance Retail', the Reliance Industries head said.
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