RIL 45th AGM Live: Ambani announces Giga factory for power electronics

From Reliance Industries 45th Annual General Meeting to Covid updates, catch all the latest news here

3:34 PM

45th AGM of RIL concludes

The 45th Annual General Meeting of Reliance Industries concludes, Mukesh Ambani ends his address to shareholders.

3:33 PM

Akash, Isha assume leadership roles at Jio, Reliance Retail, Anant in new energy biz

"Next generation leaders are taking over the range confidently across businesses, verticals and horizontals. Akash and Isha have assumed leadership roles Jio and Reliance Retail (respectively). Anant has also joined in our new energy business with Grade Z," announces Mukesh Ambani.

3:23 PM

Reliance Foundation is working on a 10-year blueprint: Isha Ambani

RIL's charitable arm, Reliance Foundation is working on a 10-year blueprint, Isha Ambani says.

"We are working on a 10-year blueprint that will make our Foundation bigger and more impactful. I will share the plans with you in the coming year. I would once again like to thank my mother for her dedication and energising leadership to the entire team at Reliance Foundation," she says.

 

3:21 PM

Even when RIL expands globally, company retains its Indian soul: Ambani

"Even when Reliance will further expand its global footprints, which it surely will, it will retain its Indian soul and its proud Indian identity," says Mukesh Ambani

3:21 PM

RIL's new energy business will help India become exporter of energy: Ambani

"Reliance Industries' new energy business will help India become a net exporter of energy. It will also strengthen indigenous R&D base and make India a reservoir of intellectual property. Most importantly, it aims to make India a world leader in new energy manufacturing and a credible alternative to China," says Mukesh Ambani at RIL 45th AGM.

 

3:13 PM

Aim to start production of battery packs by 2023: Mukesh Ambani

RIL Chairman Mukesh Ambani says, "Our ambition is to create an end-to-end battery ecosystem, from battery materials to cell manufacturing, leading up to packs and battery management systems to deliver safe and reliable batteries at high energy density and fast charging capabilities."

Ambani says, "Our deep understanding and knowledge of chemistry and materials will add to our competitive advantage in setting up our world-class battery manufacturing facility."

"We aim to start production of battery packs by 2023, and scale it up to 5 GWh by 2024, and further scale it up to 50 GWh by 2027."

3:06 PM

RIL will set up new Giga Factory for power electronics: Ambani

Mukesh Ambani says, "Last year, I had announced setting up of Dhirubhai Ambani Green Energy Giga Complex in Jamnagar to establish four Giga Factories. Today, I would like to announce our new Giga Factory for Power Electronics."

3:05 PM

Reliance Industries will invest Rs 75,000 crore in oil-to-chemical biz in 5 yrs: Ambani

Mukesh Ambani said that Reliance Industries will invest Rs 75,000 crore in oil-to-chemical business over 5 years.

 

 

3:05 PM

Will build India's first, one of the world's largest Carbon Fibre plants at Hazira: Ambani

At the AGM, RIL Chairman Mukesh Ambani says, "We will build in phases India's first and one of the world's largest Carbon Fibre plants at Hazira, with a capacity of 20,000 MTPA.

2:59 PM

Isha Ambani announces launch of Reliance's FMCG business this year

Isha Ambani says, "We opened over 2,500 stores in the year to take our store count to over 15,000, spanning an operational area of 42 million sq-ft. We built an extensive supply chain network with modular design and best-in-class automation...We generated employment for more than 1,50,000 during the year, taking our employee base to over 3,60,000," 

"I am excited to announce that this year, we will launch our fast-moving consumer goods business. The objective of this business is to develop and deliver products that solve every Indian's daily needs with high quality products at affordable pricing," Isha Ambani said.

2:56 PM

Today, Reliance Retail is among the Top-10 Retailers in Asia: Mukesh Ambani

Mukesh Ambani congratulate the entire leadership team of Reliance Retail on achieving a record of Rs 2 trillion turnover and an EBITDA of Rs 12,000 crore. He says, "Today, Reliance Retail is among the Top-10 Retailers in Asia."

2:51 PM

Mukesh Ambani lays out the 'Panch Pran' of Reliance Industries

Mukesh Ambani says, Our business model also has 'Panch Pran' (Five imperatives): a) focus on enriching customer experience across digital and physical at each touchpoint, using technology; b) Operationalising and growing multiple channels to increase our reach to serve our customers across India, especially underserved rural India, our strategy is to integrate with millions of small merchants; c) Deepen the categories that we operate in, so that we can offer a maximum choice on a continuous basis to our customers across all strata of the community; d) Expand our product portfolio, we will partner and integrate with all brands, small produces and MSMEs so that we can source from the widest range of quality products for our customers; e) Strengthen our supply chain and logistics capabilities""

2:42 PM

Working with Google to develop ultra-affordable 5G smartphones: Ambani

Mukesh resumes his address, says Reliance "working with Google to develop ultra-affordable 5G smartphone."

2:37 PM

With Jio AirFiber, customers can opt to use a virtual PC – Jio Cloud PC: RIL Prez

Reliance Industries President Kiran Thomas says, "Using Jio AirFiber, customers can opt to use a virtual PC – Jio Cloud PC. No upfront investments, no upgrades. A super-affordable way to bring the power of a PC, even multiple PCs, to every Indian home and business"

2:36 PM

Jio True 5G delivers breakthrough increases in broadband speed: Akash Ambani

Jio True 5G delivers breakthrough increases in broadband speed and drastically lowers latency. We don’t get 1 Gbps even on many of the fixed broadband networks in our country, says Reliance Jio Chairman Akash Ambani. 

He adds, Jio 5G gives ultra-high fiber-like speed over the air without any wires. We are calling it Jio AirFiber. With JioAirFiber, it will be real easy to quickly connect your home or office to Gigabit-speed Internet

2:34 PM

By Diwali of 2022, we will launch Jio 5G across multiple key cities: Ambani

"By Diwali of 2022, we will launch Jio 5G across multiple key cities, including the metro cities of Delhi, Mumbai, Kolkata, Chennai and Kolkata. Subsequently, we plan to increase the Jio 5G footprint month after month until by December of 2023, to deliver Jio 5G to every town, every taluk, and every tahsil of the country", says Mukesh Ambani

2:29 PM

Jio 5G will be the world's largest and most advanced 5G network: Ambani

RIL's Mukesh Ambani says, "Jio 5G will be the world's largest and most advanced 5G network. Jio will deploy the latest version of 5G, called stand-alone 5G, which will have absolutely zero dependency on our 4G network."

"With standalone 5G, Jio can deliver new and powerful services, like low latency, massive machine-to-machine communication, 5G voice, H computing and network slicing."

2:25 PM

Jio 5G services in India by Diwali, says RIL Chairman Ambani

"With Jio 5g, we can achieve three simultaneous subjective: a) We can build up on the success of the Jio 4G by introducing an even more advanced version of our mobile broadband services, b) we can accelerate the rollout of high quality. highly affordable fixed broadband services to hundreds of millions of locations in a very short period of time, c) We can use this vastly expanded this broadband availability to further stimulate the adoption of connected and intelligent solutions," says RIL Chairman Mukesh Ambani.
Jio 5G services will be launched in India by Diwali

2:18 PM

Mukesh Ambani announces Jio 5G services

Mukesh Ambani announces Jio 5G services: "Using 5G technology, we can now deliver breakthrough increases in broadband speed, network capacity, and number of connected users while dramatically reducing latency.,"

2:16 PM

Jio will enable India to be among top 10 globally in fixed broadband adoption: Ambani

"Two out of every three new home broadband customers chose JioFiber. JioFiber is now the number one FTTX service provider in India with over 7 million connected premises," says Ambani at RIL AGM. 

He adds, "Jio will enable India to be among the top ten globally in fixed broadband adoption."

 

2:11 PM

Reliance created 320,000 jobs last yr, one of the largest employers: Ambani

"During FY22, Reliance continued to be the largest taxpayer in India. Reliance also set records in creating jobs in India. RIL created 320,000 jobs across sectors, becoming one of the largest employers in India," says Mukesh Ambani in his keynote address.

2:05 PM

Mukesh Ambani begins to address shareholders at 45th RIL AGM

Mukesh Ambani starts his keynote address at 45th Annual General Meeting of Reliance Industries

 

1:59 PM

RIL's 45th AGM to start soon | WATCH

Reliance Industries 45th Annual General Meeting to start shortly. Watch here

12:58 PM

SC issues notice on pleas filed by 2 Muslim women challenging extra-judicial talaq

Supreme Court issues notice to husbands on petitions filed by two different Muslim women in separate pleas challenging Talaq-e-Hasan and other forms of extra-judicial talaq.

 

12:54 PM

Thought PM Modi was a crude man, but he showed humanity: Ghulam Nabi

12:19 PM

SC issues notice on UP govt on bail plea of journalist Siddique Kappan

Supreme Court issues notice to the Uttar Pradesh government on a bail plea of Kerala journalist Siddique Kappan who was booked by the UP government under the Unlawful Activities Prevention Act (UAPA) and other charges in the alleged Hathras conspiracy case.

 

11:54 AM

Forced to leave my home, says Ghulam Nabi Azad

"I have been forced to leave my home," says Ghulam Nabi Azad. days after quitting the Congress party

11:04 AM

SC issues notice on plea seeking stay on hijab ban verdict

The Supreme Court has issued notice to the Karnataka Govt on pleas challenging High Court's verdict refusing to lift ban on hijab in educational institutions of state. Next hearing on September 5.

 

10:24 AM

NDTV promoters seek regulatory clarification on VCPL deal

New Delhi Television said its promoter group has written to India market regulator asking it to clarify whether the regulator's order in 2020 restricts conversion of warrants issued to Vishvapradhan Commercial Pvt Ltd (VCPL) into equity shares.

Indian billionaire Gautam Adani's conglomerate last week said it was seeking to control a majority stake in NDTV.

9:57 AM

Rupee touches fresh low as Fed’s Powell talks tough on inflation

The rupee weakened a new low against the US dollar on Monday as the greenback surged globally following Federal Reserve Chair Jerome Powell’s firm commitment to tackling high inflation even at the cost of economic growth. The rupee weakened to a record low of 80.14 per US dollar in the first few minutes of trade on Monday as the US dollar index strengthened well past the 109 mark.