Reliance announces e-commerce ambitions at AGM, shares fall

At the RIL AGM, Mukesh Ambani said the e-commerce effort will involve the group’s Reliance Retail Ltd. and Reliance Jio Infocomm Ltd. businesses,

The platform will use augmented reality, holographs and virtual reality to create an “immersive shopping experience,” Ambani said, without giving a timeline or financial targets. The service will be available to small merchants as well, enabling them to “do everything that large enterprises and large ecommerce players are able to do.”

RIL shares fell 2.6 percent to 964.50 rupees in Mumbai.

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