Reliance gains after launch of JioFiber

Reliance Industries rose 1.14% to Rs 1212 after the company's telecom arm, Reliance Jio Infocomm, launched its fiber-to-the-home-service across 1,600 cities in India on Thursday, 5 September 2019.

Reliance Industries (RIL) announced after market hours yesterday, 5 September 2019, that JioFiber will offer an integrated experience of broadband, on-demand entertainment, voice / video calling & conferencing, gaming & home solutions.

Currently, the average fixed-line broadband speed in India is 25 mbps. Even in America, it is around 90 mbps. JioFiber, India's first 100% all-fiber broadband service, will start from 100 mbps and go all the way up to 1 Gbps. This will propel India to top 5 broadband nations globally.

Annual subscribers will get 4K set top box, for streaming TV channels, free while a 4K television set would be complimentary with plans with higher payouts such as 'Gold' and above.

JioFiber offers ultra-high-speed broadband (up to 1 Gbps), free domestic voice calling, conferencing and international calling, TV video calling and conferencing, entertainment OTT apps, gaming, home networking, device security, VR (virtual reality) experience and premium content platform.

The company announced complimentary high definition set-top box and an advance modem Jio Home Gateway, zero-latency gaming and device security of up to five devices in all the plans priced between between Rs 699 to Rs 8,499 per month.

JioFiber users will have access to 3, 6 and 12month plans that provides substantially higher value. Through bank tie-ups, Jio will provide attractive EMI schemes, so customers get the benefits of annual plans by paying only monthly EMI.

With JioForever annual plan, users will get Jio Home Gateway, Jio 4K set top box, television set (in Gold plan and above), subscription to favourite over-the-top (OTT) apps and unlimited voice and data.

Meanwhile, the S&P BSE Sensex was up 172.94 points or 0.47% to 36,817.36.

On the BSE, 1.48 lakh shares were traded in the RIL counter so far compared with average daily volumes of 4.30 lakh shares in the past two weeks. The stock hit a high of Rs 1212.5 and a low of Rs 1196.25 so far during the day.

The stock hit a 52-week high of Rs 1417 on 03 May 2019. The stock hit a 52-week low of Rs 1017 on 25 Oct 2018.

On a consolidated basis, Reliance's net profit rose 6.82% to Rs 10,104 crore on a 21.92% increase in the net sales to Rs 156,976 crore in Q1 June 2019 over Q1 June 2018.

Reliance Industries is an Indian multinational conglomerate company. The company owns businesses across India engaged in energy, petrochemicals, textiles, natural resources, retail, and telecommunications.

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