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45th Reliance AGM Meet 2022: New announcement, key points, and highlights

Mukesh Ambani

Reliance Jio to roll out 5G in major Indian cities by October 2022.
Mukesh Ambani addressed the shareholders via video conferencing on Jio’s website and social media handles at the 45th Annual General Meeting of Reliance Industries Limited (RIL) at 2 pm.

Reliance Industries Limited Chairman & MD Mukesh Ambani announced a 5G rollout plan – “Reliance Jio has prepared the world’s fastest 5G rollout plan. By Diwali 2022 we’ll launch Jio 5G across multiple key cities, including metro cities of Delhi, Mumbai, Chennai & Kolkata,” said Mukesh Ambani.

What is Reliance AGM Meet?



Reliance AGM Meet is a live event that addresses shareholders via video conferencing and an interactive three-dimensional (3D) metaverse zone. The event has been organized digitally for the past two years due to the Covid-19 pandemic.

Reliance AGM Meet 2022: New announcements

Reliance AGM Meet 2022: New announcements



Jio introduced the ‘world’s largest, ‘standalone’ Jio 5G services.
The length of Jio’s optic fibre is 1.1 million kilometres.
Union communications and information technology minister Ashwini Vaishnav stated that the government will roll out 5G services in India by October.
Mukesh Ambani claims that Reliance added 223K new jobs in India.
Reliance is committed to investing Rs 2000 billion investment in 5G network expansion.
Jio True 5G will have a broadband speed of 1 gigabyte per second, making it faster than many other networks.
Jio will be partnering with Meta, Google, Microsoft and Intel for cutting-edge technology and cloud data.
Jio will make India a data-powered economy, claims Mukesh Ambani.

Reliance AGM Meet 2022: Key points

In 2021, the RIL tapped into the green energy sector with a budget of Rs 750 billion.
In 2020, the company’s most crucial announcement was the installation of Google as a minority investor in the company.
Jio Book Laptop did not get launched on
Krishna Godavari Dhirubhai-6 will account for India’s 30% of total gas production.
Jio is collaborating with Qualcomm for the latest 5G adoption.

Qualcomm’s Cristiano Amon shared the stage with Mukesh Ambani and talked about the partnership for the next generation of networks.

Cristiano Amon stated that mmWave will be a critical component of 5G for enabling a broadband-like fibre experience. He also said that the 5G rollout is a top priority.
5G networks are likely to introduce first in 13 major cities such as Bengaluru Delhi, Gandhinagar, Chandigarh, Ahmedabad, Gurugram, Mumbai, Pune, Hyderabad, Chennai, Jamnagar, Kolkata, and Lucknow.

Continue reading “45th Reliance AGM Meet 2022: New announcement, key points, and highlights”
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Indian big bull bows out

Rakesh jhunjhunwala

Veteran investor Rakesh Jhunjhunwala passed away on Sunday morning at the age of 62. Jhunjhunwala died at 6.45 am in Mumbai and was brought dead to Breach Candy Hospital, according to the reports.

He was often referred as the “Big Bull” and “Warren Buffet” of the Indian stock market.

Jhunjhunwala was a stock market trader and chartered accountant. He was also the chairman of Hungama Media and Aptech, as well as a director of Viceroy Hotels, Concord Biotech, Provogue India, and Geojit Financial Services.

Jhunjhunwala was the founder of India’s newest airline Akasa Air, which launched services in the Bengaluru-Kochi-Bengaluru sector from Cochin International Airport Limited (CIAL) on Friday (August 12).

He had teamed up with ex-Jet Airways CEO Vinod Dube and former IndiGo head Aditya Ghosh to set up the airline.

The self-made businessman was the son of an Income Tax (I-T) officer and is survived by his wife — Rekha — and three children.

Prime minister expressed grief over his demise. PM Modi said, “Rakesh Jhunjhunwala was indomitable. Full of life, witty and insightful, he leaves behind an indelible contribution to the financial world. He was also very passionate about India’s progress. His passing away is saddening. My condolences to his family and admirers. Om Shanti.”

Union Minister Smriti Irani
Minister of Women and Child Development of India expressed

Here are 10 top quotes by Rakesh Jhunjhunwala that that will continue to inspire investors:

Nobody can predict the weather, death, market and women. Market is like a woman, always commanding, mysterious, uncertain and volatile. You can never really dominate a woman and likewise you cannot dominate the market

Always go against tide. Buy when others are selling and sell when others are buying

Never invest at unreasonable valuations. Never run for companies which are in limelight

Whatever you can do or dream you can, begin it. Boldness has genius, power and magic in it

You do not succeed without obsession
Prepare for losses. Losses are part and parcel of stock market investor life
Growth comes out of chaos

Hastily taken decisions always result in heavy losses. Take your time before putting money in any stock

Respect the market. Have an open mind. Know what to stake. Know when to take a loss. Be responsible

Stock markets are always right. Never time the market

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Breaking news Australian cricketer shane Warne is no more

Shane Warne is widely regarded as one of the greatest bowlers to have played the game, having retired as Test cricket’s second most prolific wicket-taker.

Warne’s management company in a brief statement released on Friday confirmed that he passed away in Koh Samui, Thailand, of a suspected heart attack.

“Shane was found unresponsive in his villa and despite the best efforts of medical staff, he could not be revived,” Warne’s management have confirmed in a statement.

Warne played 145 Tests and 194 ODIs between 1992 and 2007 and took a combined 1001 wickets during his storied international career.

The legspinner carved a storied career during his time playing for Australia and was affectionately called ‘Warnie’. He remained a popular figure post retirement, forging a successful broadcasting career as commentator and expert.

Warne was the member of Australia’s 1999 ODI World Cup winning squad and also played starring roles in the team’s five Ashes title wins between 1993 and 2003.

Post retirement, Warne famously guided Rajasthan Royals to a fairy-tale title win in the inaugural season of Indian Premier League in 2008 as their captain and coach.

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Russia-Ukraine crisis live updates: Air India flight brings back 242 from Ukraine

The US and EU have slapped sanctions that makes it difficult for Russia to avail western financing or access to markets. The move follows Russia recognising independence for two regions of eastern Ukraine and ordering troops to move in there. An Air India flight landed in Delhi on Tuesday night with 242 passengers from Kyiv.

Air India special flight AI-1946 from Kyiv landed at Delhi airport with around 242 passengers at 11:30pm

Air India flight brings back 242 Indians from Ukraine

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why sbi cards share prices are falling

SBI Cards shares hit 52-week low; what’s hurting the stock now

SBI Cards and Payment Services shares fell nearly two percent to a fresh 52-week low on Friday, adding to investors’ concerns as the stock entered the sixth session of losses in a row.

SBI Cards is due to report its financial results for the October-December period on January 24.

For the second quarter of the current financial year, SBI Cards and Payment Services reported a year-on-year rise of 67.3 percent in net profit to Rs 344.9 crore. Its revenue, however, declined 8.1 percent to Rs 1,173.2 crore.

The SBI Cards stock fell as much as 1.9 percent to Rs 845 on BSE, breaching its existing 52-week low of Rs 857.2, hit on Thursday.

Prior to Friday’s fall, SBI Cards shares had declined almost four percent in five back-to-back sessions.

Passive investing in an index fund is a good way to ensure your own returns roughly match the overall market. Active investors aim to buy stocks that vastly outperform the market – but in the process, they risk under-performance. Investors in SBI Cards and Payment Services Limited (NSE:SBICARD) have tasted that bitter downside in the last year, as the share price dropped 13%. That falls noticeably short of the market return of around 36%. We wouldn’t rush to judgement on SBI Cards and Payment Services because we don’t have a long term history to look at. The share price has dropped 20% in three months.

Given that the market gained 36% in the last year, SBI Cards and Payment Services shareholders might be miffed that they lost 13%. While the aim is to do better than that, it’s worth recalling that even great long-term investments sometimes

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NARENDAR MODI MEET VENTURE CAPITAL,PRIVATE EQUITY FUND A HEAD OF UNION BUDGET OF 2022

IS IT GOOD NEWS FOR STOCK MARKET OF INDIA

Prime Minister Narendra Modi on Friday hosted a roundtable interaction with representatives of venture capital and private equity funds.

According to the Prime Minister’s Office, this is a part of the constant endeavour of the Prime Minister to boost the investment climate in the country, and the motive of the Friday’s meeting was to gather inputs ahead of the next budget for FY22.

“He (Modi) discussed the efforts undertaken by the government to bring in more reforms, future potential of initiatives like PM GatiShakti, and steps taken to reduce the unnecessary compliance burden,” the PMO said in a statement.


“He also mentioned the innovation happening in India at the grassroot level and the boost to the startup ecosystem,” it added.

The representatives also discussed the opportunities that are emerging because of India’s exemplary climate commitments including the ones in the sphere of energy transitions, the statement added.

The private equity funds and venture capitalists gave inputs about areas like FinTech and Financial Management, and Software as a Service (Saas).

As preparation for next year’s Budget gathers steam, Prime Minister Narendra Modi on Friday met with leading private equity/venture capital players to seek suggestions on making India a more attractive investment destination.

Discussions during the meet revolved around seeking suggestions to make it even more easier to do business in India, attract more capital, and further the reform process, official sources said.

The meeting illustrates how the Prime Minister is interacting personally with industry leaders to gather inputs ahead of the next Budget, they added.

Finance Minister Nirmala Sitharaman is due to present on February 1 the Budget for the next fiscal year that starts on April 1, 2022.

Modi had in November last year met 20 large global investors managing assets of more than $6 trillion.

Since coming to power in 2014, the BJP government has unveiled a series of reforms that has helped India climb on the global ease of doing business ranking.

It is now pushing for making India a manufacturing hub. Production-linked incentive schemes for sectors from automobiles to semiconductors and solar have been announced to attract global manufacturers to set up base in the country

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Indian Army and Pakistan Army exchange sweets

There has been a tradition of exchanging sweets between India and Pakistan on major festivals like Eid, Holi, Diwali, and respective national days.

The armies of India and Pakistan on Thursday exchanged sweets at the Tithwal crossing bridge on the Line of Control on the occasion of Diwali, news agency ANI reported. Border Security Force (BSF) and Pakistan Rangers also exchanged sweets at the Attari-Wagah and the India-Pakistan International Border in Gujarat, and in the Barmer sector of Rajasthan to mark the occasion.

There has been a tradition of exchanging sweets between India and Pakistan on major festivals like Eid, Holi, Diwali, and respective national days.