Reliance AGM 2017 As-it-Happened: JioPhone for Rs 0, RIL 1:1 bonus among key announcements

15:56 JioPhone has many quality features that further blur the line between smartphones and powerful feature phones

How Reliance's 4G VoLTE JioPhone compares with features phones in its price band

15:50 Missed the RIL AGM?
RIL's 40th AGM also live on Virtual Reality: Important Reliance Jio announcements expected

The effectively free JioPhone was the highlight of the announcements made on Friday.

15:42 If you thought that Jio Infocomm Ltd would be a drag on Reliance Industries', then chances are that you have lost the opportunity to make quite a lot of money in a matter of just 10 months.

RIL adds nearly 2 lakh crore to investors wealth since Jio launch

15:36 Reliance Industries' Bonus History

15:26 Here are the key points Goldman Sachs had expected from the AGM would be segment wise capex expenditure in Q1FY18 and guidance for FY18.

Reliance Industries shares surge 4%; what analysts expect from 40th AGM

15:14 The RIL AGM was broadcasted live in 360 degree Virtual Reality and those owning a VR headsets and compatible smartphone could watch it in Virtual Reality.

RIL's 40th AGM also live on Virtual Reality: Important Reliance Jio announcements expected

15:06 Major telcos and cable networks fell between 2 and 9 percent intraday after the company unveiled the JioPhone at its AGM.

RIL unveils JioPhone at Rs 0: Telecom, DTH stocks crack 2-9% post feature phone launch at AGM

14:58 If somebody would have invested Rs 10,000 in the year 1977, the amount would now cross Rs1 crore mark in the year 2017.

RIL 40th AGM: Rs 10,000 invested in 1977 in RIL would have made you a crorepati today

14:50 The biggest surprise of all was the JioPhone's price, or rather, the lack of it.

Reliance Industries' 40th AGM: Here are the key takeaways

14:41 The tariff is priced Rs 153 per month, which Mukesh Ambani stated to be 1/30 th of the price of the annual rate.

Jio’s disruptive tariffs to unleash the power of digital in 1.2 billion Indians: Mukesh Ambani

14:35 Mukesh Ambani has launched its latest feature phone the Jio Phone, touted to be the most affordable phone in the world.

RIL AGM: Reliance launches JioPhone, for Rs 0

14:28 Reliance Industries recommended a bonus issue of 1:1 during the AGM today. The issue is said to be the largest one in the country. Shareholders to get one share for every one scrip held.

Reliance Industries gained around 4 percent intraday on Friday after the announcement.

RIL announces bonus issue of 1:1 at AGM; stock rallies 4%

14:17 One of the key announcements was the launch of the "effectively free" JioPhone. The announcement was trending on social media and had occupied three trending slots on Twitter, with thousands of people talking about it.
Jio at Rs 0: How social media reacted to the launch of the JioPhone

14:03 Reliance Industries has informed that the Board of Directors of the Company at its meeting held on July 21, 2017, has, subject to approval of members of the Company through postal ballot, recommended issue of Bonus Shares to the members of the Company in the ratio of 1 bonus equity share for every 1 existing equity share.
Reliance Industries in its Annual General Meeting today, recommended bonus issue.

13:48 As expected, Reliance Industries Limited's 40th Annual General Meeting was dominated by major announcements made about Reliance JioPhone. However, the biggest surprise of all was the JioPhone's price, or rather, the lack of it.Reliance Industries' 40th AGM: Here are the key takeaways.

13.06 Shares of Reliance Industries gained around 4 percent intraday on Friday after the Mukesh Ambani-led firm announced a bonus issue on its share.

12.47 Telecom and DTH stocks were under pressure on Friday after Reliance Industries unveiled the Jio Phone, which will be given free of cost to its Jio users, along with aggressive data tariffs. Major telcos, Bharti Airtel, Idea Cellular and Reliance Communications, fell between 2 and 5 percent intraday as investors turned way of other telcos’ prospects after the announcements at the AGM.

12.41 Nitin Soni, Director, Asia Pacific TMT, Fitch Ratings, says Indian market has never given benfit to a telco which bundled a handset. It is going to be an experiment. I think it is targetted at tier-II and tier-III cities.

12.33 Ambani announces 1:1 bonus issue. It has to be approved by all shareholders through postal ballot.

12.26 The immediate impact is a 6 percent fall in Idea Cellular and 3 percent in Bharti Airtel.

12.22 Also read: RIL unveils Jio phone at Rs 0: Telecom, DTH stocks crack 2-9% post feature phone launch at AGM

12.21 Well, if you are dreaming of becoming a crorepati then investment in one share was enough if invested in Reliance Industries Ltd (IPO) back in 1977. The stock has since then more than doubled investors’ wealth in every 2.5 years.

12.13 Also Read: Reliance launches JioPhone, for Rs 0

12.02 The Jio phone will be available for user-testing this August 15 and pre-booking from August 24. It will be physically available to those how had pre-booked them from September this year. We are targetting to have 5 million Jio phones every week, says Ambani.

11.58 A Jio phone can use the phone for 36 months and can get a full refund of the security desposit by returning the used phone, says Ambani.

11.55 There is always one more thing, says Ambani. You may want to know how much Jio phone will cost. Even an entry-level 4G smart phone will cost Rs 3500-4500. I am delighted to announce the Jio phones iwll be available for an effective price of Rs O, says Ambani.

11.50 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

11.47 The tariffs and prices of Jio phones.  On the Jio phone, voice will always be free, says Ambani. Second, the 50 crore feature phone users don't have access to basic internet and applications. And I believe that today every young Indian should have information access at his fingertips.

11.44 Jio phone fulfills his digital India and Make in India vision, says Akash.

11.42 It has a speaker system, which is powerful. No need for headphones, explains Asha. We believe the Jio phone is a life-safer in times of distress, she adds. Long-press number 5 and it will send a distress signal to near and dear ones, explains Asha.

11.39 We have already put Jio's top brand apps on this phone. Apps like Jio music, cinema are preloaded.

11.34 Today, Jio is going to reinvent conventional feature phones with a revolutionary device made by Indians for all Indians. Let me introduce India's intelligent smartphone presenting the Jio phone, says Ambani.

11.30 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.

11.28 Our network continues to expand across the country. In the next 12 months, Jio will cover 99 percent of our population.

11.26 Starting March of this year, Jio successfully undertook the largest migration from free to paid services in India and we have converted a majority of our customers. Today, we have more than 100 million paying Jio customers. Most of them have recharged the Rs 309 or higher plans. Jio prime members will continue to get benefits. Additionally, they will get many attractive surprises. Jio prime members have a special place in our heart.

11.23 Now, Jio customers are consuming over 125 crore GB of data every month. This includes 165 crore hours of high-speed video every month making Jio the largest mobile video network. India has overtaken China in mobile data usage.  Before Jio's launch, India was 155th in mobile broadband penetration, now it is no.1 in mobile data consumption. I believe that India is well on its way to becoming no.1 in mobile broadband penetration in the coming months.

11.19 We enabled Jio users to make unlimited voice calls from anywhere to everywhere absolutely free. Jio users consistently make more than 250 crore minutes of voice and video calls every single day.

11.17 It has been only 10 months since the launch of Jio and what an incredible journey it has been. It has broken one world record after another. Nobody believed that we could acquire customers fast enough to justify our investment in 4G network. They over-delivered the 100 million I had set for them, says Ambani.

11.15 All through this forty years, I am grateful to my mother, says Ambani.

11.14 All our these achievements have very few parallels anywhere in the world. For all of this, we have our beloved country India to thank for the opportunities we got and shareholders, says Ambani.

11.10 Mukesh Ambani begins speech.

11:05 Another potential announcement is regarding the launch of a Rs 500 smartphone.

11:00 A key expectation today is whether there will be an announcement on when Reliance Jio will start billing customers.

10:58 It's a rainy day in Mumbai but that hasn't stopped investors from queuing up in large numbers for this event.

10:55 RIL Chairman Mukesh Ambani has arrived at the venue.

10:50 The AGM is also being broadcast live on VR:

10:40 More on that Balaji deal: Reliance Industries will pick up 24.9 percent stake in Balaji Telefilms for Rs 413.28 crore, through preferential issue of 2.52 crore shares at a price of Rs 164 per share. It will get two board seats on Balaji.

10:20 Ahead of today's AGM, Reliance Industries shares hit a fresh nine-year high of Rs 1,564, up as much as 2.3 percent in early trade pm Friday after better-than-expected earnings in the June quarter and a stake purchase in Balaji Telefilms.

Consolidated profit grew by 12.7 percent sequentially (up 28.3 percent YoY) to Rs 9,079 crore in Q1 FY18, driven by one-time gain and robust growth in petchem & refining businesses.

10:15 Reliance Jio put out a tweet on Thursday saying: "We are all set to unfold a new chapter of the #JioDigitalLife".

10:05 Last year’s AGM was all about the announcements related to launch of telecom services by RIL subsidiary Reliance Jio Infocomm. With the services launched on September 5 last year, this time’s AGM could all be about the extension of those services — from mobile to connecting life inside homes.

Every detail, every number on Jio would be lapped up. Be it the number of Prime subscribers, the announcement on launch of Fiber-to-the-home super fast broadband services, details on affordable 4G feature phones and new tariff plans.

10:00 Good morning and welcome to live coverage of Reliance Industries' 40th Annual General Meeting. The event will take place in Birla Matushri Sabhagar at Mumbai’s Sir Vithaldas Thackersey Marg.

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