Reliance Industries declined 0.27% to end at Rs 1198.30, with the Mukesh Ambani-owned telco Reliance Jio set to launch its fiber-to-the-home service Jio Fiber across the country today, 5 September 2019.
In its 42nd annual general meeting (AGM) on 12 August, Reliance Industries (RIL) chairman and managing director Mukesh Ambani said Reliance JioFiber broadband services will launch from 5th September.
Ambani said that Reliance Jio's digital set-top box will come bundled with ultra high definition entertainment, virtual reality content multi-party video conferencing, voice-enabled virtual assistants, interactive gaming, home security and many other smart-home solutions. Voice calls from home to any Indian operator - mobile or fixed - will be absolutely free forever.
Jio Fibre plan starts with 100 Mbps speed and goes all the way up to 1 Gbps or 1000 Mbps. This will disproportionately improve the quality of fixed-line data in India. And prices are at less than 1/10th the global rates, to make it accessible for all. Jio Fiber plans will be priced between Rs 700 to Rs 10,000 per month to suit every budget and every need.
Under a Welcome Offer, Jio Fiber customers who opt for annual plans, will get an HD or 4K LED television and a 4K set-top-box absolutely free
Jio Fiber customers will be able to watch movies in their living rooms the same day these movies are released in theatres. The firm calls this Jio first-day-first-show. It plans to launch this service in the middle of 2020.
Reliance Jio has invested nearly Rs 3.5 lakh crore towards creating a state-of-the-art digital infrastructure across India, with the largest optical fiber footprint. Jios customer base has crossed 340 million users and it is signing up more than 10 million new customers each month.
On the BSE, 50 lakh shares were traded in the counter compared with average daily volumes of 42 lakh shares in the past one quarter. The stock hit a high of Rs 1213.75 and a low of Rs 1193.2 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.
The stock has outperformed the market in past one year, sliding 3.28% as against Sensex's 3.76% fall.
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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