Reliance Industries’ telecom arm unveils India’s First Satellite-Based Gigabit Broadband Service

At 12:30 pm, Reliance Industries shares were trading at Rs 2262.15, up by 1.61% from its previous closing of Rs 2226.20 on the BSE.

Reliance Industries’ telecom arm, Reliance Jio Infocomm (Jio), has successfully demonstrated India’s first satellite-based gigabit fiber service to provide high-speed broadband services to previously inaccessible geographies within India. Jio showcased its new satellite broadband, known as JioSpaceFiber, at the India Mobile Congress. The service will be available across the length and breadth of the country at highly affordable prices.

Jio delivers high-speed broadband fixed-line and wireless services to over 450 million Indian consumers. To accelerate digital inclusivity for every household in India, Jio has added JioSpaceFiber to its premier lineup of broadband services, JioFiber and JioAirFiber. With Jio, consumers and businesses have unprecedented access to reliable, low-latency, and high-speed internet and entertainment services, regardless of location. The satellite network will also support additional capacity for mobile backhaul, further enhancing the availability and scale of Jio True5G in the remotest parts of the country.

Jio is partnering with SES to access the world’s latest medium earth orbit (MEO) satellite technology, the only MEO constellation capable of delivering truly unique gigabit, fiber-like services from space. With Jio having access to a combination of SES’ O3b and new O3b mPOWER satellites, it is the only company that offers game-changing technology, providing scalable and affordable broadband across all of India with a level of guaranteed reliability and service flexibility that is a first in the industry.

Reliance Industries is India’s largest private sector company. The company’s activities span hydrocarbon exploration and production, petroleum refining and marketing, petrochemicals, retail, and 4G digital services.

On Friday, the stock opened at Rs 2242.00 and reached a high and low of Rs 2271.55 and Rs 2236.05, respectively. The BSE group ‘A’ stock, with a face value of Rs 10, has a 52-week high and low of Rs 2,635.17 and Rs 2,012.14, respectively. The scrip’s high and low in the last week stood at Rs 2306.70 and Rs 2221.05, respectively. The current market cap of the company is Rs 15,30,735.31 crore. The promoters hold 50.27% of the company, while institutions and non-institutions hold 38.76% and 10.98%, respectively.

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