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Digital 2017 and a New Year offer were the talking points of Reliance Industries’ Chairman and Managing Director Mukesh Ambani ’s speech at the Reliance Corporate Park in Mumbai on Thursday.
In his address, Ambani said Jio is the fastest-growing technology company not only in India but also in the world. It has grown faster than
Facebook , WhatsApp or Skype .
Reliance Jio Infocomm, a subsidiary of Reliance Industries, said it had signed up over 6 lakh customers every single day during the past three months. But the big gamechanger move came in the form of Jio Money as well as number portability along with the extension of freebies till March 2017, analysts said.
“We maintain our positive view on RIL for a 12-month target of Rs 1,219, Jio Money and consumer number portability will make a big difference,” AK Prabhakar, Head of Research at IDBI Capital, told ETMarkets.com.
"Three key projects out of the $18.5 billion petchem projects to commission in phases over the next six months are also key. The company’s three major projects -- Petcoke Gasification, Refinery Off-gas cracker and Px expansion -- would be commissioned in different phases over the next six months,” he said.
We have collated the top five takeaways for stock market and telecom sector from Mukesh Ambani’s speech:
Extension of freebies: Mukesh Ambani said starting December 4, every new Jio user will get data, voice, video and the full bouquet of Jio applications. The extension of freebies might not auger well for rival players such as
Bharti Airtel , Idea Cellular , Vodafone and
Reliance Communications .
Most analysts have a negative outlook on the telecom sector amid Jio’s expansion plans. Telcos focused on volumes in Q2 of FY17, especially data, in response to the threat from R-Jio and to push plateauing data penetration levels.
“Realisations took a big hit, impacting overall data revenue delivery; voice revenues were also weak (seasonal weakness). Both Bharti and Idea showed similar sequential underlying operational trends in 2QFY17 while Bharti outperformed on YoY comparison," Kotak Institutional Equities said in a report.
Jio Money: The big gamechanger, according to experts, amid demonetisation is the introduction of Jio Money.
"To fuel their transactions, Jio is working to empower Indian merchants by building a digital retail ecosystem," said Ambani. "Thanks to solutions like JioMoney, every Indian has the ability to have a Digital ATM in their pocket," he said.
To enable low-value, high-volume transactions, merchants, especially small merchants, are an important component of the economy. JioMoney is expanding its reach to millions of touch points where micro-ATMs will be deployed.
Number portability: The much-awaited feature of number portability was made available by Jio. Mukesh Ambani announced in his speech that Jio now fully supports mobile number portability. He also announced the home delivery of Jio SIMs to those who wish to port their number.
Surge in data usage: On an average, a Jio customer is using 25 times more data than the average Indian broadband user, Ambani claimed. 1 GB per day is 30 times the average usage on other networks.
"Jio is not only delivering 4 times more data than all other Indian telecom operators combined, but also much faster throughputs than any other mobile network in India," said Ambani.
He further said over the past months, the call block rate has come down from over 90 per cent to nearly 20 per cent as of yesterday.
Expansion in customer base: Ambani said Jio added 50 million customers on its 4G LTE all-IP wireless broadband network in the 83 days of launching services.
After crossing the 50 million subscriber mark in just 83 days of its launch, Reliance Jio has emerged as the largest broadband operator in India.
According to a report by PTI, Airtel reached the same milestone of notching 50 million subscribers in 12 years, Vodafone and Idea took 13 years each.
Reliance Jio: Jio Money, number portability game changer moves by Jio: 5 takeaways - ET Telecom
In his address, Ambani said Jio is the fastest-growing technology company not only in India but also in the world. It has grown faster than
Facebook , WhatsApp or Skype .
Reliance Jio Infocomm, a subsidiary of Reliance Industries, said it had signed up over 6 lakh customers every single day during the past three months. But the big gamechanger move came in the form of Jio Money as well as number portability along with the extension of freebies till March 2017, analysts said.
“We maintain our positive view on RIL for a 12-month target of Rs 1,219, Jio Money and consumer number portability will make a big difference,” AK Prabhakar, Head of Research at IDBI Capital, told ETMarkets.com.
"Three key projects out of the $18.5 billion petchem projects to commission in phases over the next six months are also key. The company’s three major projects -- Petcoke Gasification, Refinery Off-gas cracker and Px expansion -- would be commissioned in different phases over the next six months,” he said.
We have collated the top five takeaways for stock market and telecom sector from Mukesh Ambani’s speech:
Extension of freebies: Mukesh Ambani said starting December 4, every new Jio user will get data, voice, video and the full bouquet of Jio applications. The extension of freebies might not auger well for rival players such as
Bharti Airtel , Idea Cellular , Vodafone and
Reliance Communications .
Most analysts have a negative outlook on the telecom sector amid Jio’s expansion plans. Telcos focused on volumes in Q2 of FY17, especially data, in response to the threat from R-Jio and to push plateauing data penetration levels.
“Realisations took a big hit, impacting overall data revenue delivery; voice revenues were also weak (seasonal weakness). Both Bharti and Idea showed similar sequential underlying operational trends in 2QFY17 while Bharti outperformed on YoY comparison," Kotak Institutional Equities said in a report.
Jio Money: The big gamechanger, according to experts, amid demonetisation is the introduction of Jio Money.
"To fuel their transactions, Jio is working to empower Indian merchants by building a digital retail ecosystem," said Ambani. "Thanks to solutions like JioMoney, every Indian has the ability to have a Digital ATM in their pocket," he said.
To enable low-value, high-volume transactions, merchants, especially small merchants, are an important component of the economy. JioMoney is expanding its reach to millions of touch points where micro-ATMs will be deployed.
Number portability: The much-awaited feature of number portability was made available by Jio. Mukesh Ambani announced in his speech that Jio now fully supports mobile number portability. He also announced the home delivery of Jio SIMs to those who wish to port their number.
Surge in data usage: On an average, a Jio customer is using 25 times more data than the average Indian broadband user, Ambani claimed. 1 GB per day is 30 times the average usage on other networks.
"Jio is not only delivering 4 times more data than all other Indian telecom operators combined, but also much faster throughputs than any other mobile network in India," said Ambani.
He further said over the past months, the call block rate has come down from over 90 per cent to nearly 20 per cent as of yesterday.
Expansion in customer base: Ambani said Jio added 50 million customers on its 4G LTE all-IP wireless broadband network in the 83 days of launching services.
After crossing the 50 million subscriber mark in just 83 days of its launch, Reliance Jio has emerged as the largest broadband operator in India.
According to a report by PTI, Airtel reached the same milestone of notching 50 million subscribers in 12 years, Vodafone and Idea took 13 years each.
Reliance Jio: Jio Money, number portability game changer moves by Jio: 5 takeaways - ET Telecom
