Reliance’s 42 Annual General Meeting
On 12 August 2019, during the Reliance’s 42 Annual general Meeting (AGM), Mukesh Ambani, Chairman and Managing Director of Reliance Industries’ announced the roll out of Jio Fiber broadband services. The general public can start using the high speed internet from 5 September onwards. The company changed the name of Jio fiber from Jio Gigafiber after it received suggestions from its Jio subscribers.
There were few more important announcements made related to fiber to the home broadband (FTTH) services. The base plan for subscribing Jio Fiber is 700 per month that offers 100Mbps data speed. Whereas, the top end plan which is for the power users will be available at 10,000 offering unlimited data at flashing speed of 1Gbps. The interesting fact that came out in the meeting was when Ambani compared average fixed line download speed in the US which is around 90 Mbps to Jio fiber’s highest and lowest plan. He further went on to saying that the plans will come down at less than one-tenth of global rates.
The use of Fiber-optic cables
All these plans will accessible with a landline connection, HD or 4K set top box and access to Jio’s Internet of things. Fiber-optic cables will be used to connecting the broadband, the landline and the set top box. With the fixed line connection Ambani promised that user will get free voice calls for life. Further, the plan will also bring down the cost of the international voice calls by providing subsidising the rate and will also unlimited ISD calling to international places like Canada and US only at 500 per month.
Reliance also introduced “Jio First Day First Show” that will be launched by mid-2020. This service will allow premium Jio fiber users to watch the movie on the next day after it’s released in theatres.
Rise in the stocks after Annual General Meeting
After the Reliance’s annual general meeting (AGM) all the analyst were pleased with all the announced happened in the meeting. The effect of which was seen on early trade on 13 August, the stocks of the company rapidly increased at 9% rate.
