Reliance Industries 40th AGM: RIL CMD Mukesh Ambani launches Jio 4G smartphone at zero effective price

RIL stocks up 28 points in trade till 12:15pm.

One time security deposit of Rs 1500 for every JioPhone will be charges. Refund for using JioPhone for 36 months: Mukesh Ambani

Free of cost JioPhone will be available for pre-booking from August 24. From the last quarter of this year JioPhones will be made in India: Ambani

Ambani says, Jio is a young organization and Akash and Isha, our Directors, both 25, lead a large contingent of highly talented professionals. I want to publicly thank all Jio employees and applaud their contribution to our company, and our nation.

The JioPhone will be available for user testing in beta from 15th August and for pre-booking from 24th August. From last quarter of 2017, all JioPhones will be made in India. We are targeting to have 5 million JioPhones a week: Ambani 

JioPhone will make the 2G feature phone obsolete. With this, I am sure Jio will set a new world record: Mukesh Ambani

Digital Life will no longer be the privilege of the affluent few. Reliance democratized the equity culture in the past. Now, Jio will democratize the digital culture in India: Mukesh Ambani

Jio will be the greatest accelerator of the Bharat-India connectivity: Ambani

Reliance dedicates JioPhone to the nation on the joyous occasion of India@70, 70th anniversary of India's Freedom: Mukesh Ambani

This is how Jio will end the digital exclusion in India. And this is what I call true digital freedom: Ambani

From 15th August, 2017, all Indians will have access to the highest quality and quantity, affordable and unlimited data: Ambani

To protect against misuse of the free JioPhone offer, we plan to collect a fully refundable, one-time, security deposit of Rs 1,500 with every JioPhone: Ambani 

JioPhone is FREE for all 

Today, I am delighted to announce that JioPhone will be available to all Indians for an effective price of – Rs 0, announces Mukesh Ambani

But that's not all. There is ONE MORE THING. You may want to know how much the JioPhone will cost: Mukesh Ambani

If these users were to consume a similar quantity of data on other operator's network, they would spend Rs 4,000 – 5,000 per month: Ambani

With all unlimited Dhan Dhana Dhan plan, it will be available on Jio phones only at Rs 153. There will be a jio phone TV cable that connects with any TV, not just a smart TV, even the old TVs.

A weekly plan and a daily plan are on offer, says Ambani. 

Jio will provide it at Rs 153 a month, says Ambani.

This is 1/30th or 3 percent of hte existing prices, and I am putting an end to unaffordable data for all Indians for ever.

Starting August 15, I am declaring digital freedom for all feature phone users. Jio will give them access to unlimited data on the Jio phones, says Ambani.​

Mukesh Ambani takes over, announces "On the JioPhone, voice will always be free"

Mukesh Ambani's children Akash and Isha Ambani demonstrate JioPhone features.

Jio phone to be 'most intelligent, affordable phone' in the world -- a 4G LTE phone supporting all 24 Indian languages. 

Mukesh Ambani launches 'Most Intelligent Affordable Smartphone' called JioPhone

"Today, Jio is going to reinvent the conventional feature phone. Let me introduce India ka Intelligent SmartPhone," says Ambani

We are expanding our physical distribution network. By September we have over 10,000 jio offices over every city. It will service 10 lakh physical retail outlets. We will integrate with all major e-commerce platform: Ambani

Jio network will cover 99% of population: Ambani

There are more than 50 crore feature phone users who have been left out of the digital revolution. This digital disempowerment and unfairness must end. Jio is committing to end it today: Ambani

Today, Jio has more than 100 million paying Jio Prime customers. Most have recharged on Jio's Rs 309 or higher plans: Ambani

Before Jio's launch, India was 155th in the world in mobile broadband penetration. Now India is No 1 in mobile data consumption: Ambani

"Indeed, India has overtaken the US and China in mobile data usage"

Now, Jio customers alone are consuming over 125 crore GB of data a month, including 165 crore hours high-speed video every month making Jio the largest mobile video network: Mukesh Ambani

We enabled Jio users to make unlimited voice calls from anywhere to everywhere in India – absolutely free: Jio users consistently make more than 250 crore minutes of voice and video calls every single day: Mukesh Ambani

We are grateful to @PMOIndia's Digital India,which allows benefits of technology to be passed on to Indian customers. In just 6 months of Jio's launch, data consumption in India went from 20 crore GB to 120 crore GB per month: Ambani

This was the fastest adoption of any technology service, anywhere in the world. Faster than Facebook, WhatsApp, Skype:Mukesh Ambani
Today Jio has over 125 million customers. We have proved all our sceptics wrong: Mukesh Ambani
 

Jio has broken one world record after another: Mukesh Ambani

In less than 170 days, more than 100 million customers signed up for Jio's services: Mukesh Ambani
 

On an average, Jio added 7 customers per second every single day. This is a testament of your trust in Jio: Mukesh Ambani

I want to dedicate these 40 years of achievements and records to our founder Chairman Shri Dhirubhai Ambani: Mukesh Ambani

In simple terms, this means that your money has doubled every two and a half years over the past 40 years: Mukesh Ambani

One thousand rupees invested in Reliance shares in 1977 is today worth Rs 16,54,503 – over 1,600 times more valuable: Mukesh Ambani

Watch LIVE steaming: 

Above all, market capitalization has multiplied from ten crores to over five lakh crores: Mukesh Ambani

Our total assets have increased from 33 crores to over 700,000 crores and a multiple of over 20,000 times: Mukesh Ambani

Our turnover has grown from 70 crores in 1977 to over 330,000 crores today – an increase of nearly 4,700 times: Mukesh Ambani

In just 4 decades, Reliance has grown from a small startup to one of the largest, most admired companies in the world:  Mukesh Ambani

RIL chairman Mukesh D. Ambani begins speech at the company's 40th AGM

WATCH:

Shri Mukesh D. Ambani, CMD of RIL, speaking at the company’s 40th AGM. https://t.co/ty14yFD8BL

— Flame of Truth (@flameoftruth) July 21, 2017

Shares of Reliance Industries Ltd (RIL) today rose by nearly 4 per cent after the company reported its highest quarterly consolidated net profit of Rs 9,108 crore in three-months to June 30.
The stock after making a positive opening, further jumped 3.85 per cent to Rs 1,587.70 -- its multi-year high -- on BSE.
At NSE, shares of the company went up by 3.86 per cent to Rs 1,588.
On the volume front, 4.94 lakh shares of the company were traded on BSE and over 67 lakh shares changed hands at NSE during the morning trading session.

The stock of RIL, a market heavyweight, soared 2.03 per cent, to Rs 1,559.75, in early trade after the company yesterday reported its highest quarterly consolidated net profit of Rs 9,108 crore in three months to June on the back of higher petrochemical margins and one-time gain from sale of African asset.

RIL Chairman and Managing Director Mukesh Ambani's AGM speech to begin shortly

Reliance Industries Ltd's fiscal first quarter net profit grew 28% on-year to Rs 9,108 crore, while the Mukesh Ambani-controlled company's April-June revenue rose 27 per cent on-year to Rs 90,537 crore, as per Thursday's report. 

As per to IE reports, Ambani will make at least one consumer-centric announcement. 

"We are all set to unfold a new chapter of the Jio Digital Life. Join us at the Reliance AGM 2017," the company tweeted on Thursday.

These 4G feature phones are expected to be priced between Rs. 1,000 and 1,500, as per PTI 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," PTI said, citing one of the sources.

Watch live steaming: 

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

The main attraction of the 40th AGM of Reliance Industries Limited (RIL) will be announcements regarding Reliance Jio.

Speculations are high that Ambani will make big customer-centric announcements related to Reliance Jio in his speech. Reliance Industries plans to sell 200 million 4G feature phones in two years, news agency PTI quoted industry sources saying.

Reliance Industries will hold its Annual General Meeting (AGM) that will commence at 11:00 am today. Chairman Mukesh Ambani will address the company's AGM. 

The event is being held at Birla Matushri Sabhagar in Mumbai.