Jio | Pixr8 News

28Apr By Sheldan RungasamyNo Comments

BUSINESS

Reliance Registers Positive Revenues Across Several Business Streams

Reliance Industries released filings showing that it registered an all time high net profit for the fourth quarter, amounting to Rs 9,435 crores, thanks to advantageous outcomes in the refining and petrochemical business. The firm, which revealed its fourth quarter and fiscal year accounts, showed a 17.3% increase in profit compared to last year’s figure amounting to Rs 8,046 crores. The hike is primarily attributed to an increase in the start-up of petrochemicals projects and new understandings about refining and petrochemical products. Additional hikes were reported in the filings, such as a 21.8% increase in revenue to Rs 90,894 crore, exports increasing by 32.5% to Rs 51.295 crore in the fourth quarter, ending the fiscal year on March 31, 2018. Moreover, Network 18 Media and I...

Jio Prime Members Will Enjoy 1 Year of Benefits Free

31Mar By Sheldan RungasamyNo Comments

News

Jio Prime Members Will Enjoy 1 Year of Benefits Free

Reliance Jio, the telecom company of Mukesh Ambani announced today that its existing Jio Prime members who subscribed by March 31, 2018 will receive complimentary prime benefits for the next 12 months for free. As for new Jio users, they can still join the prime membership at an annual fee of Rs 99, the company announced in a statement. “All Jio Prime members who have subscribed to the exclusive membership benefits till March 31, 2018 will get another year of complimentary prime benefits at no additional fee,” it said. The prime membership offer of Jio provide its customers with complimentary access to content bouquet such as Live TV channels, movies, videos and songs, as well as added value on general tariffs. The existing Jio prime members, those who subscribed before 31 Marc...

Reliance Acquires Saavn Music App for $104 Million+Stock Deal

24Mar By Sheldan RungasamyNo Comments

ACQUISITION

Reliance Acquires Saavn Music App for $104 Million+Stock Deal

Reliance Industries, the Indian conglomerate in oil-to-telecom sector bought a stake in Indian music streaming service called Saavn and decided to merge the company with its JioMusic app and thus create a new unit that is reported said to be valued at $1 billion. Reliance will also have to buy a stake from Saavn’s current shareholders for $104 million. Reliance’s plan is to invest over $100 million, $20 million of it upfront for the expansion of JioMusic-Saavn merge, according to a joint statement issued by both companies. Saavn’s current investors include Tiger Global Management, Liberty Media and Bertelsmann and all of them will keep a holding in the new music services. Reliance, owned by India’s wealthiest person Mukesh Ambani did not reveal the amount of stakes it holds in the...

Reliance Jio To Buy RCom’s Wireless Assets In $3.75B Deal: Sources

29Dec By reutersNo Comments

BUSINESS

Reliance Jio To Buy RCom’s Wireless Assets In $3.75B Deal: Sources

Debt-laden Reliance Communications has signed a deal to sell its wireless assets to Reliance Jio Infocomm for nearly 240 billion rupees ($3.75 billion), two sources familiar with the matter told Reuters on Friday. The two companies had announced late on Thursday that Reliance Communications, backed by businessman Anil Ambani, would sell all its spectrum, tower, fibre optic and other telecom infrastructure assets to Jio, which is owned by Reliance Industries and is controlled by Anil Ambani’s elder brother Mukesh Ambani, India’s richest person. They firms did not give the value of the deal. Jio and Reliance Communications, or RCom as the company is known as, did not respond to messages seeking comment on the value of the deal. The sale, if finalised, would mark a big step in RCom’s...

Reliance Clarifies No plans to Launch App Based Taxi Service

25Feb By AdityaNo Comments

News

Reliance Clarifies No plans to Launch App Based Taxi Service

Billionaire Mukesh Ambani-led Reliance Industries has no plans to launch an app-based taxi service as the company sees no logic in diversifying into unrelated sectors. It has been speculated for months that Reliance Jio, the company's telecom venture that has created ripples by signing up 100 million customers in just 170 days of launch, will soon launch a taxi service. The company had not commented on the speculations so far but took to the Twitter to deny the foray after an online publication stated that Jio has ordered some 600 cars to "kickstart" the service. A Reliance spokesperson tweeted that the report is "WRONG and DENIED". The company has no plans to get into unrelated diversification , another official explained. Reliance Jio had earlier this week announced a strategic ...