RELIANCE INDUSTRIES, one of the India’s largest market capitalisation company with net worth of approximately US$ 24 billion led by MR.MUKESH AMBANI, chairman of reliance group of industries has announced major and incredible vision of his company in the future, he had addressed for almost 2 hours to the stakeholders with full confidence and determination, he assures that reliance will going to be one of the largest company not only in india but on global level and that we can see on his face.
I would like to tell you the key decisions and announcement that had taken place:
1.Reliance jio much awaited fibre to home service will going to be launched on 5th september 2019, the third anniversary of telecom giant’s launch, its speed will start from 100 mbps and will go till 1 gbps which is really unbeleivable as most developed countries are still not capable of providing this type of superfast speed, plans price is also reasonable starting from Rs.700 to Rs.10000 per month
2. One of the major announcement said by MR.AMBANI that they have a clear roadmap of making the reliance industries zero debt company till 31st march 2021, which will be a major below for the entire reliance family, On a mission to cut debts MR.AMBANI said that the company is going to sell its stake i.e., 20% stake to saudi aramco, world’s largest profit making company and have a venture with BP plc.
3. He has also announced the launch of 4K supported jio set up box that will enable newer entertainment and gaming experiences. The new set up box will receive its signals from LOCAL CABLE OPERATORS(LOC) the company is going to work with local companies like DEN,HATHWAY. Jio Set Top Box is capable of delivering console-like gaming using Jio Fiber service, thus making a revolution in telecom industry.
4. Reliance retail has crossed turnover of 130000 crore to cement its position as the India’s largest retailer.
5. As a part of social responsibility MR.AMBANI stated that the company is committed to support the development needs in jammu & kashmir territory and will contribute to the level best in the country’s interest which eventually will create thousands of job opportunities for the young people.
These are some of the announcements made by MR.AMBANI that clearly defines the strong potential of company to grow in upcoming time and there are high chances that reliance can be the market leader not only in telecommunication but also in other major fields.
From this AGM i can advise investors that company’s future is really full of opportunities and growth so it is the best time to invest in this company and i can assure you that your invested money would be double in 2-3 years of time only, company fundamentals are really strong, so for long term you can invest your money with little risk involved and chances of higher returns .
So to conclude this meeting in few lines i could say that the rival companies need to be careful now and should tie up their laces and get ready to face the competition because if they won’t then they should remember what has done to aircel or reliance communications. In all these revolutions the customer is really enjoying and are getting benefits, that’s what consumer wishes and we can say that what they are demanding are fulfilled by reliance industries on spot