And that's all for today; before we wrap up our coverage of Reliance Industries Ltd's AGM 2020 today, here is a quick glance at some major announcements made at the shareholder's meet today by RIL chairman Mukesh Ambani.

Jul 15, 2020 5:00 PM

Google to invest in Jio Platforms: Everything you need to know about the deal

Google to invest in Jio Platforms: Everything you need to know about the deal. Get latest Telecom online at cnbctv18.com

Jul 15, 2020 4:41 PM

RIL AGM 2020 LIVE Updates: Received strong interest from strategic and financial investors to invest in Reliance Retail, says Mukesh Ambani

After Jio Platform, Reliance Retail may the next big investment driver for RIL. Addressing shareholders, Mukesh Ambani said that the company has received interest from strategic and financial investors to invest in Reliance Retail and he would induct global and strategic partners into the business.

"We are India’s largest and most profitable retail business. Reliance Retail is the fastest-growing retailer in the world, and the only Indian Retailer to feature in the Top 100 global retailers and we continue to be a partner of choice for marquee international brands. Reliance Retail has been at the forefront of bringing about the Organized Retail Revolution in India. We do this by partnering with farmers, small and medium-scale manufacturers, merchants, vendors, start-ups and global companies. Four things that give me huge satisfaction are: First, more than two-thirds of our nearly 12,000 stores are operated in Tier II, Tier III and Tier IV towns. Second, the deep-rooted bond with tens of thousands of farmers that has helped us source over 80% of our fresh fruits and vegetable directly from farmers. We sell more fruits and vegetables than any other organised retailer in the country. Third, we continue to provide large employment and development opportunities for lakhs of people across India. Fourth, our growth model is based on partnership with small merchants and shopkeepers;" said Ambani

Jul 15, 2020 4:23 PM

RIL AGM 2020 LIVE Updates: Here’s what Mukesh Ambani said on Saudi Aaramco Deal at the 43rd AGM today

With the deal between Saudi Aramco and RIL getting delayed, a big question in the AGM was if the deal will be called off. Addressing the subject, Mukesh Ambani told shareholders that while the deal had been delayed, RIL remained committed to a long term partnership with Saudi Aramco. Due to unforeseen circumstances in the energy market and the COVID-19 situation, the deal has not progressed as per the original timeline. Our equity requirements have already been met.

Nevertheless, we at Reliance value our over two-decade-long relationship with Saudi Aramco and are committed to a long-term partnership. Reliance’s long-term vision, beyond O2C and re-imagining of our entire energy platform, he said.

Reliance was looking at selling 20 percent stake in the oil to chemical (O2C) business which comprises of its twin oil refineries at Jamnagar in Gujarat and its petrochemicals assets to Saudi Aramco. With a stake, Aramco would not just have a stake in one of the world's best refineries and the largest integrated petrochemical complex but also access to one of the fastest-growing markets - a ready-made market for 5 lakh barrels per day of its Arabian crude and offering a potentially bigger downstream role in future.​ The company will be moving NCLT to spin off its O2C business.

Jul 15, 2020 4:16 PM

RIL AGM 2020 LIVE Updates: What Jio's big 5G bet means

Jio to develop 5G products & solutions in India:

- Jio has designed and developed a complete 5G solution from scratch

- Jio will develop home-grown 5G products & solutions in India

Process:

- Jio can easily upgrade its 4G network to 5G, since it is all-IP network architecture

- Jio 5G will be driven on its own products

- Well positioned to be an exporter of 5G solutions to other telecom operators globally, as a complete managed service

Timeline:

- The made-in-India technology can be deployed & launched in 1 year once spectrum is available

- Jio’s 5G products & solutions are ready for 5G trials once spectrum is available

What this means for the co?

- Will enable Jio in being an end to end digital services player in 5G

- 5G solutions being offered to other telecom companies will add additional revenue stream

- Jio will be the first Indian telecom operator to launch 5G products & solutions

- Will eventually compete with the likes of Nokia, Samsung, Ericsson, Huawei, ZTE

Jul 15, 2020 4:08 PM

RIL AGM 2020 LIVE Updates: RIL targets to become net carbon-zero by 2035, says Mukesh Ambani

Joining big global voices in fighting climate change, Mukesh Ambani today said that they aim to become net carbon zero by 2035. Energy industry is a big contributor to carbon emissions globally and Mukesh Ambani said that the energy industry needs to reinvent itself due to the catastrophic impact of climate change. He emphasized on the fact that world needs access to clean and affordable energy and this must be met, as it is a pre-requisite to ensuring quality of life for all people.

To meet the twin challenges of clean and affordable energy, he said, the energy industry must understand that fossil fuels and renewables are not mutually exclusive or contradictory. It is imperative to adopt clean, circular, sustainable, and planet friendly model to deliver green and affordable energy to everyone.

Jul 15, 2020 4:03 PM

RIL AGM 2020 LIVE Updates: Will approach NCLT with our proposal to spin off our O2C business into a separate subsidiary, says Mukesh Ambani

Speaking at the 43rd AGM, RIL Chairman Mukesh Ambani said, "we at Reliance value our over two-decade-long relationship with Saudi Aramco and are committed to a long-term partnership. We will approach NCLT with our proposal to spin off our O2C business into a separate subsidiary to facilitate this partnership opportunity. We expect to complete this process by early 2021."

Jul 15, 2020 3:56 PM

RIL AGM 2020 LIVE Updates: JioPlatforms has raised over Rs 1.52 lakh crore so far via 14 deals

Jul 15, 2020 3:47 PM

Google to invest in Jio Platforms: Everything you need to know about the deal

Google to invest in Jio Platforms: Everything you need to know about the deal. Get latest Telecom online at cnbctv18.com

Jul 15, 2020 3:41 PM

RIL AGM 2020 LIVE Updates: Reliance Retail is receiving strong interest from strategic and financial investors, says Mukesh Ambani

After Jio Platform, Reliance Retail may the next big investment driver for RIL. Addressing shareholders, Mukesh Ambani said that the company has received interest from strategic and financial investors to invest in Reliance Retail and he would induct global and strategic partners into the business.

Jul 15, 2020 3:36 PM

RIL AGM 2020 LIVE Updates: On JioMart, here are the main highlights from RIL chairman Mukesh Ambani’s speech

• JioMart is a tech-enabled partnership that will link producers, traders, small merchants, consumer brands and consumers.

• Within a few weeks of launch, we have reached over 250,000 orders a day and the numbers continue to grow each day.

• JioMart is now focused on scaling its geographical reach and delivery capabilities.

• In addition to grocery, we will expand JioMart to cover electronics, fashion, pharmaceutical and healthcare in the days ahead.

• In the coming years, we will cover many more cities, serve many more customers across India, and expand to many more categories.

• Will reduce inefficiencies thereby creating more value for everyone in the retail ecosystem.

• Connecting farmers and delivering their fresh produce directly to homes is a key part of our grocery strategy.

• This will significantly improve farmer income and incentivise higher productivity

• New Commerce will transfer significant new value to consumers, producers and merchants.

• We are accelerating the rollout of JioMart. We have successfully piloted our JioMart grocery model with kirana partners. And are piloting the beta version of the JioMart grocery customer online platform in 200 cities.

• JioMart is obsessed with providing convenience and a superior shopping experience to consumers.

Jul 15, 2020 3:30 PM

RIL AGM 2020 LIVE Updates: Deal with Saudi Aramco hasn’t progressed due to unforeseen circumstances, COVID crisis, says Mukesh Ambani

Jul 15, 2020 3:28 PM

RIL AGM 2020 LIVE Updates: Reliance launches Jio Glass, to provide mixed reality services

Reliance Jio has launched its latest innovation, Jio Glass, a new mixed reality headset, which will enable holographic video calling. At its Annual General Meeting on Wednesday, the company announced that Jio Glass is at the cutting edge of technology that provides best-in-class Mixed Reality services to give users a truly meaningful immersive experience.

The glass weighs only 75 grams and offers best in class, immersive mixed reality services. It remains connected by a single-cable and already has 25 apps that allow augmented reality video meetings and more.

Jul 15, 2020 3:26 PM

RIL AGM 2020 LIVE Updates: Reliance completes fundraising drive with Google's investment, raises Rs 2.12 lakh crore

After 13 mega investments in Reliance Industries' telecom arm Jio Platforms, Google will invest Rs 33,737 crore for a 7.7 percent stake, says Chairman and Managing Director Mukesh Ambani at the 43rd annual general meeting. Mukesh Ambani's Jio Platforms has investment from two of the leading tech companies in the world now -- Google and Facebook.

With Google's investment, Jio Platforms has raised a combined of Rs 1,52,056 crore from all the mega investments. In fact, RIL has cumulatively raised Rs 2.12 lakh crore along with the rights issue.

Jul 15, 2020 3:21 PM

RIL AGM 2020 LIVE Updates: Have reached over 2,50,000 orders per day on JioMart, says Mukesh Ambani; JioMart will be covering electronics, pharma, fashion and healthcare going ahead

Jul 15, 2020 3:16 PM

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