Reliance News

Dhirubhai Ambani memorial to open to public from Feb 3rd onwards

2012-02-02T03:10:00.001-08:00

The Dhirubhai Ambani memorial, instituted in the name of the founder and ex-chairman of Reliance Industries Limited (RIL) Dhirubhai Ambani, will be opened to public from February 3rd onwards. Located in the small town of Chorwad in Junagadh district of Gujarat, the memorial, which was inaugurated by the Ambani clan and members belonging to the Reliance family on December 28th(birth anniversary of the Dhirubhai Ambani), will be opened to public viewing in the presence of family matriarch Kokilaben Ambani, wife of Late. Dhirubhai Ambani and Reliance Industries group President ParimalNathwani.

The memorial was inaugurated with much fan-fare on the 80thbirth anniversary of Dhirubhai HirachandAmbani on December 28th 2011 by the Ambani family's spiritual guru Ramesh BhaiOza. Along with all the members of the Ambani family, 150 members of Reliance group and those associated with the family were also present to induct the ceremonial opening of the memorial.

The memorial has been instituted within the complex where Dhirubhai Ambani spent most of his childhood. It was in a rented section of the bungalow (then called 'MangarolwaloDelo’) where Dhirubhai Ambani and his family used to live. The patriarch went on to purchase the bungalow in 2002, which is now renamed as 'DhirubhainoDelo'.

The memorial complex has three sections, comprising a picture gallery, the old residence of Dhirubhai Ambani and an auditorium for screening a short film on Dhirubhai's life to the visitors of memorial. The original structure of the house has been kept the same while some portion has been converted into a museum of sorts. The founder of Reliance has been immortalised in an array of sepia toned pictures which stand symbolic of his life-journey and that of Reliance. The section of the complex which used to be the residence of the Reliance patriarch has been re-structured to resemble the actual residence from his time.

Dhirubhai Ambani -the founder of Reliance –is well-known for pioneering India’s biggest and most renowned private sector company for nearly forty years. From what could be seen as a modest start as a small time trader to instituting one of the most revered companies in the Indian business quarter, Dhirubhai Ambani’s life journey is that of inspiration. He is credited with having rolled out a business model that companies follow even today in an effort to reach at the top of the ladder of success once held by the Ambani patriarch himself.

RIL’s Long-term Credit Rating Unaffected : Standard’s & Poor

2012-01-30T03:57:00.001-08:00

Standard & Poor (S&P), a US based financial service company recently released a statement remarking that the long term corporate credit rating on Mukesh Ambani-led Reliance Industries Limited (RIL; BBB/Positive/--) has remained unaffected despite the company’s recent plans to buy back its equity shares. If anything, Reliance Industries ambitious plan to buy back its shares at Rs. 870 a share (one of the largest ever buyback programs in Indian corporate history) is quite likely to reflect confidently on the current share price of the conglomerate. This buyback announcement, more than anything, will signal a strong commitment from the company to increase the valuation of its share price with respect to its intrinsic worth. S&P also acclaimed that despite a 25 per cent drop in RIL's EBITDA (Earnings before Interest, Taxes, Depreciation, and Amortisation) in the quarter ended December 31st2011, the factor is least likely to affect RIL‘s existing credit rating regardless of many industry speculations about the same.

S&P is of the view that Reliance Industries Limited’s liquidity will continue to hold fort despite the buyback, considering the company's significant cash and cash equivalent reserves of Rs. 745 billion as on Dec 31st2011. And given the buyback is expected to produce at least Rs. 104 billion in cash outflow, the additional sum will only help mitigate the impact of volatile operating performances in refining and petrochemicals quarter, if any. The S&Ps report cited that the rating on RIL had already factored in these volatile elements, including the challenges the company is facing with respect to its prolific KG-D6 gas block in the Andhra coast.

Reliance Industries present rating of BBB+ is reflective of the fact that the company has adequate capacity to meet its financial commitments. However, adverse economic conditions or changing circumstances could possibly lead to weakening of the capacity of the obligor to meet its financial commitments. Regardless of this, if cynical discrepancies do erupt to hinder Reliance Industries core business’ performances, the support foundation in the form of robust cash reserves will help impede any adversity to a large extent. “We believe RIL's financial performance will remain strong in the next 12 months, with the ratio of adjusted debt to EBITDA at less than 1.5x. We adjust the ratio for cash and cash equivalent excluding Rs 75 billion, which we assume the company needs for its operations. In our view, RIL's business strategy, particularly the use of its significant cash balances, would be a key determinant of any future rating action on the company”, stated S&P in its statement.

Reliance Digital launches 12th store in Hyderabad

2012-01-25T07:10:00.000-08:00

Hyderabad January 26, 2012: Reliance digital, the consumer durables and electronics arm of Reliance Retail added yet another store in Hyderabad with the launch of a brand new outlet at Begumpet on January 26th ,2012.
The store is located at Gummidalli Commercial complex, above Reliance Trends.

This is Reliance Digital’s 12th store in Hyderabad and 56th in the country.

Reliance Digital is present across 23 cities in India, having successfully launched its stores in Mumbai, Delhi NCR, Bengaluru, Hyderabad, Kolkata, Chennai, Pune, Ahmedabad, Bhimavaram, Bhopal, Coimbatore, Hubli, Jaipur, Kanpur, Lucknow, Mangalore, Mysore, Nashik, Nagpur, Ujjain, Vadodara, Vijaywada & Vizag.

Spread over 7,800 sq feet of store space, Reliance Digital at Gummidali Commercial Complex offers consumers a choice of over 4000 products with over 150 international and national brands. The entire range of IT & Accessories, Consumer electronics, home appliances and mobile telephony products is available at Reliance Digital.

With the largest spread of products at various price points across all major product categories, Reliance Digital is a one stop shop for all technology solutions in the field of Consumer Electronics like Home theatres, Televisions, LCD TVs, digital cameras and music systems; Home Appliances like washing machines, microwave, Air Conditioners, refrigerators; Information Technology and Telecommunications like Laptops, mobile phones and the widest assortment of products and accessories of both national and international brands.

The store is equipped with specially designed experience zones where the customers can test and try live products such as MP3 players, Digital cameras, Laptops and mobile phones. Ample parking space at the store makes it even more convenient for customers from all parts of Hyderabad to come and shop. The store also caters to nearby catchment areas such as Airport Staff Quarters, PWD Quarters, Indian Airlines Quarters, Prakasam Nagar, Motilal Nehru Nagar etc.

Commenting on the new store launch, Brian Bade, Chief Executive Reliance Digital said, “The tremendous support received in Hyderabad over the years led us to open yet another store in the city. We are extremely delighted to open our 12th new Reliance Digital store in Hyderabad. We have got an overwhelming response from our existing stores and are pleased to extend the same shopping experience to our customers in Begumpet. The launch of this new store is part of our aggressive retail roll-out strategy which has helped us expand within a very short span of time. The store will offer cutting edge technology products under one roof, at the best value coupled by experience and excitement to our customers.”

The store is equipped with specially designed Experience zones like a TV Learning Wall, Home Theatre Room, Mobile & Laptop Experience Columns, where the customers can test and experience their favourite electronic products

With a focus to provide end to end solutions related to all technology products, Reliance Digital introduced ‘Reliance ResQ’ – an exclusive Service Center that provides service and extended warranty covering most of the leading brands at a cost as low as Rs. 2 per day. This service is available on all 365 days of the year making the customer care free about the repairs or maintenance for their valued electronics or appliances.

About Reliance Digital
Reliance Digital is the consumer durables and information technology concept from Reliance Retail. Reliance Digital seeks to fulfill the dream of every Indian, be it through its nationwide network of conveniently located stores or through its presence on the web, by providing a delightful shopping experience of products & solutions and helping them bring home the latest & best in technology from the widest selection at the lowest assured price with complete peace of mind through lifelong support.

With over 150 international and national brands and over 4000 products at amazing prices, Reliance Digital has the largest display of models to help you find the right solution that fits your lifestyle. The range at Reliance Digital spans, Audio and Video products (TV's, DVD players, Car Audio players), Electronic Musical Instruments and Digital Cameras, Gaming Consoles and Games, Computers and Peripherals, Mobile and Fixed line instruments, Durables like, Air Conditioners, Refrigerators, Water Purifiers, Kitchen and Home Appliances.

At Reliance Digital, you get to touch, try and feel every product before you make your decision. The specially designed Experience Zones (for high-end entertainment systems like home theatres, televisions, home and car music systems) simulate exact conditions to familiarize you with your product. The trained staff will be only too happy to understand and advise on the optimum choice of products meeting your needs. What more, Reliance Digital is backed by Reliance ResQ, the service arm that is available for support all 7 days and fully geared to provide end to end solutions. For more information, log on to www.reliancedigital.in

About Reliance Retail Limited:
Reliance Retail Limited (RRL), a subsidiary of Reliance Industries Limited opened its first retail store in November 2006 and today operates more than 1,000 stores in over 86 cities, spanning 14 states and serving over 2.5 million customers every week. RRL is a multi-format retailer that operates
"Reliance Market - a concept for local traders and small businesses
" Reliance Fresh - a neighborhood store concept
" Reliance Super- a super mart concept
" Reliance Mart - a hyper market concept
" Delight - a non vegetarian offering
" Reliance Digital - a consumer durables and information technology concept
" iStore by Reliance Digital- an Apple specialty store concept
" Reliance Trends - an apparel specialty concept
" Reliance Footprint -a footwear concept
" Reliance Jewels - a jewellery concept
" Reliance Time-Out- a books, music & entertainment concept
" Reliance Living - a Furniture, Furnishing, Homeware and Home kitchen concept
" Reliance AutoZone - an automotive specialty concept

About Reliance Industries Limited:
Reliance Industries Limited (RIL) is India’s largest private sector company on all major financial parameters with a turnover of ` 2, 58,651 crore (US$ 58.0 billion), cash profit of ` 34,530 crore (US$ 7.7 billion), net profit of ` 20,286 crore (US$ 4.5 billion) and net worth of ` 1, 51,540 crore (US$ 34.0 billion) as of March 31, 2011.

RIL is the first private sector company from India to feature in the Fortune Global 500 list of 'World's Largest Corporations' and ranks 100th in terms of profits. RIL ranks 68th in the Financial Times ‘FT Global 500’ list of the world's largest companies. RIL is ranked amongst the ‘50 Most Innovative Companies - 2010' in the World in a survey conducted by the US financial publication - Business Week in collaboration with the Boston Consulting Group (BCG). In 2010, BCG also ranked RIL as the second highest ‘Sustainable Value Creators’ for creating the most shareholder value over the decade in the world.

Reliance Digital to set up store in Begumpet, Hyderabad

2012-01-24T03:31:00.001-08:00

Reliance Digital, the multi-brand electronics retail chain from Mukesh Ambani-held Reliance Industries Limited (RIL), is set to launch its latest store in the city of Hyderabad this Republic Day. The new store will be the second Reliance Digital store for the city and will be located in the popular area of Begumpet.

Launching on 26th January, the new Begumpet outlet of Reliance Digital will play host to a vast range of festivities to celebrate the opening of the store. Customers can expect a great number of deals on the latest and the widest variety of electronic products. Moreover, every purchase at the store, between 26th and 27th of January, will be awarded with an additional gift voucher of Rs. 1000 at no extra cost.

Like every other Reliance Digital’s prodigious establishment across the country, this one too will host the time-honored qualities that Reliance Digital has come to be known for. The spacious building will house an array of electronics products within the categories of entertainment utilities, kitchen and home appliances, gaming devices and IT related devices and software. Reliance Digital’s ‘special experience zone’ will also be housed within this new store to let customers try and test a product in simulated home-like conditions. The store will also feature Reliance Digital’s much acclaimed customer service portal – Reliance resQ- to support customers with all their post purchase needs and queries. Above all, Reliance Digital guarantees a ‘15 day lowest price’ assurance on all electronic products, making sure customers get the best deals on best brands of electronic items.

About Reliance Digital: Reliance Digital is a value-driven electronics retail chain from Reliance Industries Limited’s (RIL’s) subsidiary Reliance Retail, offering a multitude of electronic products and brands to choose from. Spread over 10,000 sq.mt of space, Reliance Digital stores are well furnished, spacious, and carry over 4000 products of 150 brands from world over. Carrying a wide assortment of products from high-end LED and LCD TVs, microwave ovens, refrigerators, washing machines, mobile phones, laptops, gaming consoles and software, home appliances, mp3 players to even the smallest of IT based devices, Reliance Digital is a one-stop shop for all things electronic. Reliance Digital stores offer its customers the value proposition of having the lowest prices and best quality products.

Reliance Digital Offers Cart Kings On Advance Booking Of New PSP E 1004

2012-01-19T03:04:00.001-08:00

This New Year’s, Reliance Digital Stores, the one stop shop for all kinds of electronic products has vowed to please its customers by launching new, exciting offers almost daily. Reliance Digital is offering a great prize on the purchase of New Sony PSP E 1004.

The offer ‘Pre-Order the new PSP E 1004 & get the free game: Cart Kings!’ starts from 20th January 2012 till 26th January 2012. Cart Kings is an amazing game designed to entertain children for hours at end. The comical characters and vibrant colors in the game attract young minds and keep then happily occupied for several hours. The PSP E 1004 is scheduled for launch on January 20th. You can pre-book your PSP E 1004 by paying a token amount of Rs. 500. This offer is valid strictly on first come first serve basis and one ought to hurry to avail it.

All those who are interested in availing this offer need to fill an Advance Booking form on the Reliance Digital Website. Personnel from Reliance Digital will contact the eligible applicants, who will then need to pay the advance token amount. Reliance Digital is also offering a gift voucher worth Rs. 500 after paying the token amount. The remaining amount needs to be paid on delivery of the product. Hurry! Offer valid till stocks last!

About Reliance Digital: Reliance Digital is the electronics arm of Reliance Retail. It offers all types of electronic items ranging from LCDs, LEDs, mobile phone, laptops, IT accessories, home theatres, home appliances and many more electronic appliances. It has a special technical support arm, the ResQ team which deals with pre-sales queries about all products, installation, and maintenance and repairs too. It offers complete product life support. Reliance Digital truly abides by its tagline, ‘We bring technology to life for you.’

Reliance Industries gears up for its biggest ever share buyout

2012-01-19T02:02:00.001-08:00

Mukesh Ambani led Reliance Industries Limited (RIL) is all set to announce one of its biggest every share buyout programs, which could possibly become one of the biggest such programs in the Indian corporate history. This move to buy back shares comes at a time when RIL is looking to boost its share price which has walked on a receding graph over the last year. However, even in the anticipation of the event, RIL saw an immediate 5% shoot in its share price on Wednesday, increasing shareholder wealth between Rs. 11,950 crore to Rs. 2.54 lakh crore.

A buyback involves repurchase of outstanding shares by a company, either through a tender offer or an open market purchase, usually to off set the decline in value of shares available with the company by reducing the number of outstanding shares. While RIL has not yet specified the quantum of shares it is planning to buy back or a timeline, it has filed a notice with the exchange for its upcoming plans. Many industry analysts speculate that this buyout may just rescue RIL out is diminishing profit graph. According to Securities and Exchange Board of India (SEBI), a company is allowed to repurchase its shares worth up to 10% of its paid-up capital without shareholder approval and 25% with shareholder resolution. RIL’s proposed buy back corpus is estimated to be around Rs. 15,000 crore (without shareholder approval) or Rs.25, 000 crore (with shareholder approval).It is speculated that Reliance will make use of its $12 billion cash and cash equivalent assets to sponsor this buyout program. The last time Reliance Industries pulled off a major buy back plan was back in December 2004 when it repurchased and extinguished 28.69 lakh shares worth Rs. 150 crore.

If this program is to materialize in its absolute terms, it will not only boost RIL’s share price, it will also signal strong growth prospects to investors and promoters of the company, even if it chooses not to spend the entire corpus it has set aside for repurchase.Reliance has been trying to ramp-up the declining output from its prolific KG-D6 gas field, and because the process will take time to show favorable implications on RIL’s tock valuation, within that time, a buyout is being considered as good prospect. Also, if the estimated premium of 10-15% is being considered over current stock prices, the value of RIL shares could trail north in the range of Rs. 850-900 per share.

Get the Perfect Mixer-Grinder at Reliance Digital

2012-01-18T00:38:00.001-08:00

Reliance Digital, the one stop shop for electronic goods continues its exciting exchange bonanza. One such great exchange offer is available on Panasonic Mixers. The offer is promoted under the tagline,’ Fret no more to get the perfect grind!’ Let us check the details of this offer. You can avail a discount of up to Rs.1000 on Panasonic mixers in exchange for your old mixer grinder. The offer is valid on certain Panasonic Mixer models.

Why to select Panasonic Mixer Grinders? Panasonic Mixer Grinders are highly compact, powered by a 550W motor and have plump grinding bowls. All the jars in Panasonic Mixers have flow breakers. These enhance the grinding efficiency as they help push down the object which need to be ground, towards the blade. The mixer jars are dent resistant and long-lasting, given to their thickness. The best feature of Panasonic Mixers is its Magic Seal, which is a self-lubricating oil seal protection system that enhances the motor life and also prevents water from leaking into the motor housing.

Well, now that you know why to choose Panasonic, let me tell you why to choose Reliance Digital. Reliance Digital’s Exchange offer is valid on exchange of all old mixers, including the ones which are in a non-working condition. Reliance Digital is offering almost Rs.1000 even on exchange of old mixers which are not working, which I am quite sure no other consumer electronics store will provide.

You can avail this offer at the nearest Reliance Digital Store. To locate the nearest outlet, you can check the Reliance Digital Website, which is enabled with a ‘Store locator’ feature.

About Reliance Digital: Reliance Digital is the consumer durables and electronics retail arm of Reliance Retail, a major subsidiary of Reliance Industries Limited. It offers over 150 national and international brands and more than 4000 electronic products, under one roof. The value oriented consumer electronics retail chain has a technical support team, the ResQ Team. Reliance ResQ Team undertakes installation, maintenance and repair for all electronic items. Reliance Digital believes in providing the best customer service by offering cutting-edge technology at the lowest possible rates.

Reliance Digital’s Special Offer to Enhance Audio Experience

2012-01-17T04:41:00.000-08:00

Reliance Digital, the consumer durables and electronics arm of Reliance Retail goes out of its way to provide enhanced shopping experience to its valuable customers. Reliance Digital regularly updates exciting offers at all its outlets across the nation.

This New Year’s, Reliance Digital presents an amazing offer on speakers and AV receiver. You can step higher into the world of listening to music. Reliance Digital offers Jamo 5 Speakers and Onkyo 308 AV receiver worth Rs. 46,800 for just Rs. 38,990. It is offering a discount worth Rs. 7810 on the purchase of these speakers and AV Receiver.

The offer is promoted with a tagline ‘Let each note strike a chord.’ The amazing discount intends to welcome more customers to purchase the great sound system. The attractive offer hosted by Reliance Digital expects to cater good quality audio system to its customers at a relatively low price.

About Reliance Digital: Reliance Digital, the one stop shop for electronic products is the electronics retail arm of Reliance Retail. Reliance Retail is a major subsidiary of Reliance Industries Limited. Reliance Digital Stores offer a wide range of multi-brand, high-end electronic products at the lowest possible prices. It houses TVs, LEDs, LCDs, laptops, IT accessories, softwares, gaming consoles, digital cameras, home appliances, mobile phones, tablets and all types of electronic items. Reliance Digital is popular for offering electronic products at the most affordable rates combined with amazing and exciting discounts and offers. Its widespread network of outlets has marked its presence in 17 major cities in India.

RIL will recover its cost in KG-D6 fields; majority supports the company’s efforts

2012-01-16T05:33:00.000-08:00

Despite the best assertions of oil ministry, Mukesh Ambani led Reliance Industries Limited (RIL) stands to recover costs it incurred in the development of its much talked about oil and gas acreage – KG-D6 fields, after gathering a majority support from stake holders in the gas field.
Oil ministry and its technical arm Directorate General of Hydrocarbons (DGH) have tried to prevent this from happening by stating that Reliance Industries can be penalized for fall in output from KG-D6 blocks which were vehemently noted to contain zealous resource acreage. However, RIL, along with other industry officials, have duly noted that geological constraints and uncertainty cannot possibly be gauged by any operator until they are knee deep in the actual process. KG-D6 failed to generate speculated oil and gas resources but, as per recent findings from a study conducted by RIL and its partner BP Plc, the region around KG-D6 continues to hold much promise as against any other field at present.
And while DGH would have liked to amend the action by enabling a resolution in KG-D6 Management Committee (MC), neither the government nor any state run firm has any stake in operations of KG-D6 fields. The MC takes a decision only if it is backed by parties representing at least 70% stake in the block, along with support from government nominee, if any. And if majority outranks the veto presented by a government nominee, the decision is taken in favor of the majority. Because KG-D6 does not have a government nominee, individual stake holders are the ones to decide the fate of KG-D6 cost recovery issue. At present RIL and Niko have stakes in D6 operations, while BP Plc, which signed a deal with RIL to claim 30% stake in its oil and gas acreage, is yet to formally join the production sharing contract (PSC).
DGH has claimed that operator RIL is at fault for not drilling enough wells but it has failed to overlook the extensive work that has gone into KG-D6 over the years. While output has not lived up to its expected mark, it has shown prospect for growth. Plus, this issue has brought to the shore the lack of government’s trust in oil and gas operators. While discrepancies arising from natural factors cannot be avoided or overlooked, government ought to show consideration for development efforts that go into functioning of a major undertaking as KG-D6.

Reliance Industries has been given a reprieve by the DGH in the KG-D6 basin case. The official Statement from the DGH states that INdian govt cannot stop Reliance Industries not recover cost from D6 basin.

Reliance Digital’s Numerous Storage Media Options

2012-01-13T07:12:00.001-08:00

Reliance Digital, the consumer durables and electronics arm of Reliance Retail, a subsidiary of Reliance Industries Limited hosts over 150 national and international brands of electronic products. Reliance Digital Stores offer more than 4000 types of electronic products. Whether you wish to purchase a LED TV, LCD TV, Home Theatre, Computer, Laptop, computer accessories or the latest Battlefield 3, Reliance Digital offers it all. It is known to offer the best electronic products at most reasonable rates.

Considering the number of brands which manufacture pen drives, external hard drives and memory cards, it is a really difficult task to choose the one that best suits your needs and budgets. Few of the leading brands which cater to the needs of storage media are: Samsung, Caselogic, iBall, Iomega, Seagate, Transcend, Moser Baer, Sandisk, Sony and many more.

Reliance Digital reviews these products to ensure that their customers are served only the best from each category. External hard disks are a major storage medium used in laptops, computers, notebooks, video recorders, gaming consoles, portable players, etc. The cost of the hard disk depends on its capacity limitation. It is useful when you need to store a large amount of data. Pen drives are removable, compact and non-volatile data storage devices. It is like a portable hard disk. Given to their compact size and light weight, pen drives can easily be pocketed unlike hard disks.

Memory cards or flash cards are data storage devices used for storing digital information and are commonly used in electronic devices such as digital cameras, mobile phones, laptops, MP3 players, gaming consoles, etc. Memory cards are used to extend the memory of a device. The dependence on communication technology is so high that memory cards are an essential for every individual. Unlike pen drives and hard disks, there is a higher demand for memory cards because of its use in mobile phones.

Reliance Digital Welcomes 2012 With ‘Bye Old, Buy New’ Exchange Offer

2012-01-12T08:49:00.001-08:00

Reliance Digital stores, the one stop shop for consumer durables and electronic products is hosting an exciting exchange offer. India’s fastest growing retail chain, Reliance Digital outlets across the nation are offering the exchange bonanza under the banner, ’bye old, buy new’.

The unbeatable exchange offer is valid on smartphones, tablets, laptops, LED and Internet TVs and numerous home appliances. You can avail a discount of up to Rs. 4000 under exchange on smartphones and tablets which include Samsung Galaxy Tab P750, Samsung Galaxy S Plus and the Samsung-Windows phone – Samsung Omnia W. On the purchase of laptops, Reliance Digital offers up to Rs. 5000 off under exchange and an assured exchange bonus of Rs. 2000. This offer is valid on the following laptops: hp Pavilion G6-1201TX, hp Pavilion G6-1200TX, hp Pavilion G4-1200TU and many other models. What more, Reliance Digital offers these products at the lowest possible prices.

For LED and Internet TVs, one can win a discount of up to Rs. 10000 under exchange. The exchange offer is valid on numerous brands such as Sony, Samsung and even Reliance Digital’s own brand, Reliance Reconnect. Under the exchange offer, Reliance Digital is offering a rebate of almost Rs. 15000 on Side by Side refrigerators, Rs. 5000 on Front Loading Washing Machines and Rs. 2000 on Convection Microwave Ovens.

To get more details about the ‘Bye Old, Buy New’ offer, you can visit the nearest Reliance Digital Outlet. To locate the nearest store, you can use the store locator feature on Reliance Digital Website.

About Reliance Digital: Reliance Digital is the electronics retail arm of Reliance Retail, a major subsidiary of Reliance Industries Limited. It houses more than 4000 electronic products and over 150 national and international brands. Reliance Digital truly abides by its brand logo, ‘We bring technology to life for you.’ It offers cutting edge technology for the best possible rates available in the market. To enhance shopping experience for customers, Reliance Digital has specially designed ‘Experience zones’, which allow customers to touch, try and feel the product before buying it. LCD TVs, LED TVs, digital cameras, laptops, IT accessories, gaming consoles, home appliances and all the latest technological advances can be purchased at any Reliance Digital outlet.

RIL Enters Memorandum Of Understanding with TV18 and Network18

2012-01-04T05:46:00.000-08:00

3rd January, 2012: Reliance Industries Limited has divested its interest in ETV Channels to TV18 Broadcast Limited (TV18). RIL announced that Infotel, RIL’s subsidiary has inked a Memorandum of Understanding with TV18 and Network18 Media and Investments Limited. By signing the MOU agreement, Infotel gets preferential access to all content of the above mentioned companies, for distribution through the 4G Network being setup by Infotel.
Infotel is geared up to set a pan India world class 4th Generation Broadband Network. Infotel aims at gaining the topmost position in content distribution through broadband technology. It will cater digital content ranging from entertainment, news, sports, weather, education, and many more genres to increase Broadband usage across the nation.
Reliance Industries Limited has investments of about Rs.2600 crores by its group of companies and holds interests in various ETV channels. A part of these investments will now be divested to TV18 Broadcast Limited. The MOU allows Infotel preferential access to (i) the content of all the media and web properties of Network 18 and its associates and (ii) programming and digital content of all the broadcasting channels of TV18 and its associates on a first right basis as a most preferred customer.
Network18 and TV18 are raising funds for the acquisition of ETV Channels through a Rights Issue. Independent Media Trust, setup for the benefit of RIL will fund the promoters of Network18 and TV18 to enable them to subscribe to the proposed Rights Issue.
Reliance further plans to study the various areas of the Indian Markets which include consumer insights and technological expertise. This will help foster the alliance to its best, which will prove accretive to the shareholders of RIL.
India’s leading TV content provider with nearly 25 channels put together with Infotel promises high quality ‘live TV’ experience to broadband customers. Infotel broadband subscribers will receive value added services from Network18’s web portals and e-commerce operations. The concord between these leading companies will leverage the value of Infotel among stakeholders.
About Reliance Industries Limited: Reliance Industries Limited is the flagship company of the Reliance Group of Companies, India’s largest private sector enterprise. RIL is India’s first private sector company which featured in the Fortune Global 500 list of ‘World’s Largest Corporations’. RIL holds the 119th position amongst the world’s Top 200 companies, in terms of profit. In 2010, Reliance Industries Limited was the second highest ‘Sustainable Value Creator’, for creating the most shareholder value in the world.

Reliance Industries has divested its interests in ETV channel to TV18 broadcast limited. This step comes as Reliance wants to strengthen the foundation before launching its 4G broad band services under the Flagship company Infotel.

Reliance Digital Reviews About Nokia Lumia Handsets

2012-01-03T18:17:00.000-08:00

Communication has been made easier and faster due to the technological improvements, innovations and launches. Smartphones have set quite a trend in the Indian market. Smartphones are high end mobile handsets built on a mobile computing platform. The Indian market offers a wide range of smartphones and it is very confusing to choose one from among so many options. So, in order to reduce your confusion we have enlisted a few features of Windows Smartphones based on Reliance Digital Reviews.

Reliance Digital is a leading provider of electronic products offering over 4000 electronic products and more than 150 national and international brands. Reliance Digital is known to keep up its slogan ‘we bring technology to life.’

Nokia’s first two windows phones are Nokia Lumia 800 and Nokia Lumia 710. Both these smartphones give an amazing user experience. Nokia Lumia 800 has a 1.4 GHz processor, 16 GB of storage and Carl-Zeiss Camera. With a 3.7 inch display, it is available in 3 vibrant colors. It is certainly a stunning handset to set your eyes upon. Nokia Lumia 710 is designed with the ulterior motive to perform. Its processor and storage is the same as Nokia Lumia 800. This handset will be available in black and white with numerous colored backs which include cyan, fuchsia, yellow, etc.

Both these smartphones are the best smartphones built in the history of time. The Lumia phones are equipped with excellent built-in navigation with Bing Maps. They allow customization to enhance your experience. The Windows Phone ecosystem intends to develop compelling apps to take complete advantage of new and unique software and hardware features. Windows Smartphones will make a smart possession that will be envied by many.

If you want more details about any other smartphones, you can visit the nearest Reliance Digital store. To locate the nearest Reliance Digital outlet, you can check the Reliance Digital Website. It features a ‘store locator’ tab which provides information about all Reliance Digital Stores. Alternatively, you can write in to their technical experts by filling in the Reliance Digital Feedback form available on their website. A representative will get back to with an appropriate solution.

Reliance Digital’s Advice On Modern Cooking

2012-01-02T09:15:00.000-08:00

Busy schedules and modern living seldom spares time for cooking using the traditional methods. This has led to a rise in demand for microwaves. Microwaves are easier, faster, healthier and more convenient option for cooking. You can almost cook everything in a microwave oven, thanks to the improving technology of this age. Based on Reliance Digital Reviews, we have collected useful information about microwaves in this article. Reliance Digital is a leading electronics store providing the latest technological innovations at most affordable costs.

There are three types of microwave ovens: simple microwave ovens, microwave with grill and microwave with grill and convection (combination cooking). The simple microwave can be used for simple cooking, heating and defrosting. Microwave with grill has an added feature for baking. The third type offers baking and crisping as added benefits.

The capacity of a microwave oven determines the amount of food that can be cooked in it at one go. In order to decide the microwave which best suits your requirements, you need to check the following points: family size and usage. The capacity of a microwave is directly proportional to your family size. If you intend to use the microwave for actual cooking or only to supplement will make a difference. You should also check the wattage of a microwave. Higher wattage helps to cook food faster and 800 watts is ideal to cook food evenly.

The popular brands which manufacture microwave ovens are: Samsung, LG and Videocon. Most of the brands feature sensor, preprogrammed and programmable cooking. This allows you to save time as you can completely rely on the microwave for cooking your food efficiently. Unlike the traditional method of cooking, you do not need to keep checking the stage of cooking.

Reliance Industries paving way to build strong homeland security solutions

2011-12-29T08:45:00.000-08:00

Mukesh Ambani led Reliance Industries Limited (RIL) is making headway in its efforts towards building strong homeland security solutions in India. The energy-to-retail conglomerate is presently in talks with major American defense contractor – Raytheon - to form a joint venture which will look at opportunities for developing homeland security solutions in India and abroad. The talks have reached an advanced stage, as per company representatives, and are likely to materialize into a concrete JV soon.

Raytheon is the fifth largest military contractor in the world and fourth largest in the US.It is also the world’s largest producer of guided missiles. Raytheon is most well known for its weapons and military and commercial electronics core manufacturing capabilities. Through a partnership with India’s largest private sector conglomerate, Raytheon will provide Reliance Industries access to high-end security products and electronics engineering solutions for building a strong homeland security system. In doing so, RIL will have access to advanced resources to innovate and develop key security technologies for India and perhaps other countries as well, while Raytheon will be able to gain access to one of the fastest-growing markets for homeland security solutions.

Reliance Industries' homeland security and aerospace division is presently being headed by VivekLall. This subsidiary is looking to gather high-end resources in order to develop an advanced security solutions system which is likely to benefit the country a great deal. RIL has also entered into a joint agreement with Siemens AG – a Germany based engineering conglomerate - to develop intelligent electronic security solutions with mutual cooperation. As per the official statement released by RIL, RIL’s subsidiary ‘Reliance Security Solutions’ and Siemens have signed a memorandum of understanding (MoU) to develop smart security solutions for safe, secure and smarter cities and highways in India. The JV has also been shortlisted by the Maharashtra State government to support an initiative that aims at securing Mumbai city by installing home land security systems, such as video surveillance cameras, command and control centers and data serves across the city.

India' homeland security industry is currently valued at $8 billion. This figure is expected to grow to $14 billion in the next three years and to $16 billion by 2016. India’s safety and security market is currently valued at around US$ 500 million and expected to grow by more than 30 per cent in the coming years. The video security equipments segment (including CCTV) has already seen a rise of 55% in the last few years and this rate is expected to continue over the coming years as well.

Reliance family unveils Dhirubhai Ambani memorial on his birth anniversary

2011-12-29T07:53:00.001-08:00

December 28th is an important date for Reliance as it is for India Inc. It marks the birth of one of India’s greatest business leaders, visionaries, opportunist and an entrepreneur – Dhirubhai Hirachand Ambani. In fact, this data is very lucky for India from an economic point-of-view as 2 of the country’s greatest industry leaders were born on this day. Dhirubhai shares his birthday with Ratan Tata, out-going chairman of the Tata group. Ambani was born on December 28, 1932 in this sleepy town near the southwest coast of Gujarat’s Kathiawar peninsula. Today, on his 80th birth anniversary, the Ambani family came together to unveil a memorial at his hometown Chorwad in Gujarat to mark the life and journey of its patriarch and one of India’s most idolized business leaders. The celebrations in Chorwad were marked by the congregation of the entire Ambani family, who came together in much fan fare to celebrate and commemorate the life of Dhirubhai Ambani.

Nearly 150 people associated with the family and Reliance, were present at the inaugural ceremony for the memorial. The memorial is instituted in the house where Dhirubhai Ambani grew up during his early years before moving to Aden in Yemen to work at an oil company. It houses a photo gallery with archive photographs of the Ambani family and Dhirubhai Ambani’s life journey. The original structure of the house has been kept the same while some portion is being converted into a museum of sorts. This memorial with the museum will be thrown open to the public within the next few weeks.

Dhirubhai Ambani -the founder of Reliance - pioneered India’s biggest and most renowned private sector company for nearly four decades. From what could be seen as a modest start as a small time trader to instituting one of the most revered companies in the Indian business quarter, Dhirubhai’s life journey is that of determination, hard work and succeeding against all odds. His aspirations were prophetic and endeavors far-reaching. He is credited with having rolled out a business template that companies today follow in an effort to soar towards the skies. This profit model has been conceived by the man behind Reliance himself. His contribution in wealth creation for the country has been enormous Dhirubhai’s legacy is one which far outreaches the boundaries of this country, one which continues to linger in every aspect of Reliance industries and its people.

Reliance Digital To Launch Two New Stores At Ahmedabad And Ujjain

2011-12-29T02:56:00.001-08:00

India’s fastest growing consumer electronics retail chain, Reliance Digital expands its existing widespread network to Ahmedabad and Ujjain. Reliance Digital Stores plans to launch 2 new stores at these locations on December 30th, 2011. The inauguration of the stores is accompanied by numerous offers at these 2 new Reliance Digital outlets.

The Reliance Digital Store at Ahmedabad is located at: 4,5,6 – Ground floor, Turquoise complex, Opp. Centre Point, Panchwati Panch Rasta, C.G.Road. This outlet offers a discount of up to 50% off on several electronic products. First hundred customers get an assured gift on every purchase and also a chance to win a grand prize by participating in a lucky draw competition. Reliance Digital at Ahmedabad is also hosting ‘Spin the Wheel’ which offers gift vouchers up to Rs. 2000/-.

The store at Ujjain is located at the following address: Treasure Bazaar Mall, LG-02 Dhanvantri Chikitsa Kendra Yojana, Nanakheda. The Ujjain store launch guarantees an assured gift on every purchase. You stand a chance to win LED TVs, Tablets, PSP 3, cameras, photo frames, smart phones, toasters, juicers and gift vouchers. The launch festivities at both these locations add value to the festive season by introducing exciting offers and discounts.

About Reliance Digital: Reliance Digital is a multi-brand, one-stop-shop for electronic products. It is the CDIT arm of Reliance Retail, a subsidiary of Reliance Industries Limited. It houses a wide range of electronic items which include home appliances, telecom products, IT products, gaming and entertainment, audio and video products and many more. It has a vast array of high quality electronic products at the most reasonable and affordable prices. The value oriented consumer electronics retail chain is backed up by the ResQ Team, which is its technical support arm. Reliance Digital ResQ Team undertakes installation, maintenance and repair for all electronic products. Reliance Digital commits to provide the best technology for the least possible rates and amazingly friendly customer service.

Ambani Siblings to Reunite For Dhirubhai Ambani Birth Anniversary

2011-12-27T22:46:00.001-08:00

On the occasion of the late Dhirubhai Ambani’s 80th birthday on 28th December, the Ambani family plans to reunite. The Ambani siblings, Mukesh Ambani and Anil Ambani will bury the hatchet in Chorwad, after years of estrangement. They plan to celebrate differently by dedicating a memorial to their late father, a humble school teacher’s son, who won global fame and recognition as the founder of India’s largest private sector enterprise.

The Ambanis will gather at the late patriarch’s native place, Chorwad, in Junagarh district of Gujarat where they will dedicate a memorial to him. The Ambanis were last seen together at Chorwad way back in 1996.

The ancestral village of Chorwad expects great fanfare to greet the Ambani family members. The memorial will be inaugurated by the popular religious leader, Bhagvadacharya Rameshbhai Oza. Kokilaben Ambani, her sons Mukesh and Anil Ambani and daughters Dipti Salgaonkar and Neena Kothari, along with other relatives will be present for the inauguration ceremony. An RIL spokesperson said that the Ambani family also plans to attend a religious ceremony at the Goddess Chorwadi temple on December 27th.

The Dhirubhai H. Ambani Memorial has been built at the same place where the Indian business magnate spent his childhood days. He spent the early days of his life in a rented section of a bungalow, which was then called ‘Mangarolwalo Delo’. In 2002, the Ambanis purchased the place and have now renamed it as ‘Dhirubhaino Delo’.

Mrs. Kokilaben Ambani has founded the memorial as a reminder that the late founder emerged from a modest village background. The memorial will be a reminder of the efforts put in by the senior Ambani to realize his dreams and become nothing short of a legend. The memorial will be segregated in 3 sections: a pictorial gallery, the old family and an auditorium. The pictorial gallery will display the journey of his life through pictures. The old house has been restored to its original look and feel. The auditorium will be used for the screening of a short film on late Dhirubhai Ambani’s life.

RIL likely to receive approval for $1.5 billion investment in KG basin

2011-12-27T22:13:00.001-08:00

The energy rich Krishna-Godavari basin, controlled and developed by Mukesh Ambani led Reliance Industries Limited (RIL), may receive a fresh set of investment following a likely approval from the government for further development of the acreage.

Reliance Industries officials had submitted a proposal to the KG-D6 oversight committee which cited development of four additional satellite fields in the in KG-D6 block, namely Dhirubhai-2, 6, 19 and 22 (D-2, D-6, D-19 and D-22) fields. These fields border the currently functional and gas producing fields - D-1 and D-3. It has been estimated that the prospective satellite fields have the potential to generate 10 million cubic meters of gas output per day by the year 2016. This will greatly help shore up the output from the KG block which has seen its output decline over the last 15 months. The KG-D6 oversight committee, which comprises of officials from the oil ministry and its technical arm - the Directorate General of Hydrocarbons (DGH), is expected to meet tomorrow to deliberate over the approval of the field development plans (FDP).

RIL had initially submitted a FDP in 2008 for development of nine satellite gas discoveries, including D-2, D-4, D-6, D-7, D-8, D-16, D-19, D-22 and D-23, with an estimated capex of $5.6 billion and reserves of 1,708 billion cubic feet (bcf). A more efficient development plan for four of these satellite gas fields was later submitted in 2009. The KG-D6 oversight committee directed RIL to revise the proposal according to new rates and current prices. But in order to avoid potential losses, Reliance Industries modified the plans to restrict spending on the four satellite fields to about $1.529 billion, plus or minus 15 percent.

So far, eighteen discoveries have been made by RIL in the KG basin, located off the east coast of Andhra Pradesh. Many of these finds have cited immense potential for prolific energy development plans. One such field is the D-24 blockor the R-Series gas field on which RIL plans to invest nearly $2 billion so as to produce about 15 mmcmd of gas. The field has gross in-place gas reserves of nearly 1.64 tcf.

RIL and Major Indian Oil Refiners Boost Nation’s Oil Processing

2011-12-23T23:24:00.001-08:00

Oil refiners in India have increased nation’s crude processing output in November, for the tenth month this year. The rally in boosting oil refining in India was led by Mukesh Ambani owned Reliance Industries Limited (RIL) and Bharat Petroleum Corp. (BPCL).

A statement from the Oil Ministry stated that refiners have converted 14.4 million metric tons of crude into fuels. This output is 11 percent higher than the previous year. Oil Ministry also stated that Reliance Industries Limited has not revealed any information about its new refinery which estimates to give an output of 29 million tons a year.

Reliance Industries Limited, operator of the world’s biggest refining complex at Jamnagar managed the oil processing, leading to an increase by 40 percent to 2.9 million tons. Bharat Petroleum Corp., managed by the state contributed to an increase in output by 20 percent, to 2 million tons. Essar Oil Limited (ESOIL), RIL’s non-state rival has increased production by 1.3 percent.

Indian Oil Corp. (IOCL), India’s largest refiner has contributed 4.7 million tons which marks an increase by 6.1 percent. It’s refining plant at Panipat in the northern state of Haryana increased production by 20 percent. Hindustan Petroleum Corp. (HPCL), a Fortune 500 Company based in Mumbai raised processing output by 2.8 percent to 1.4 million tons.

Oil exploration and production are vital for India’s economic growth. If Indian refineries continue their exorbitant outputs, amount spent on crude oil imports will certainly decrease, affecting the nation’s economy positively. There is always an increasing demand for energy consumption. If Reliance Industries Limited and BPCL continue to lead such ventures, we can expect even better results in the upcoming years.

Leading Industrialists Attend PM Meet to Discuss Economic Growth

2011-12-23T22:57:00.001-08:00

Yesterday, the Prime Minister’s Council on Trade and Industry met to discuss important issues with regards to India’s economy and industrial outputs. Prime Minister Manmohan Singh, the Chairman of the Council presided the meeting.

The key issues brought up in the crucial meeting included nation’s economic slowdown, shrinking industrial outputs and high interest rates. The meeting agenda also included issues like insufficient coal supply to the power sector. PM Manmohan Singh met leading industrialists to discuss these issues and assure them that the government is taking measures and actions to get back on the growth path very soon.

The industrialists who attended the meet included Indian Business magnate Mukesh Ambani, Ratan Tata, Sunil Mittal, Rahul Bajaj and several others. Deepak Parikh, noted Banker from the HDFC group, Infosys founder N Narayana Murthy Sunil Munjal of Hero Group were other eminent industrialists who were a part of the discussion. Government members who attended the meeting and were a major part of the important discussion include: Commerce and Industry Minister Anand Sharma, Environment Minister Jayanti Natarajan, Planning Commission Deputy Chairman Montek Singh Ahluwalia and PMEAC Chairman C Rangarajan.

Industrialists expressed that approval on mega projects should be prioritized by the government to avoid further delay in execution. They also put forth concern on reforms which allow Foreign Direct Investment in multi-brand retail, banking, insurance and other sectors. The council has been created to foster partnership between the government and businesses in order to improve the nation’s economic growth, which has slowed down to the lowest, in the past two years.

After the meeting, Swati Piramal, Director of Piramal Healthcare commented,” It was a very positive and good interaction with the Prime Minister. He listened to all the industry and different aspects and challenges that industry is facing and he is determined to get back on the growth path.

Reliance Autozone launches store in Malakpet, Hyderabad

2011-12-19T04:33:00.001-08:00

Having launched a store previously in Hyderabad, Reliance Autozone has launched a second outlet in the old suburban district of Malakpet, Hyderbad. Spread over 3,000 sq ft, the latest Reliance Autozone store is located in Saleem Nagar Colony, Moosarambhag (near MalakpetGunj) and offers global standard auto retailing services.

Reliance Autozone - an auto retailing subsidiary under Reliance Industries retail arm- is a one stop shop for retailing of automotive products, including car accessories, batteries, tyres and tubes and lubricants. Offering more than 50 leading brands and 1500 products for a wide range of cars, SUVs and bikes, Reliance Autozone’sauto accessory range offers around 5,000 products and utility items such as audio and video systems, safety equipments, security based gadgets, bull guard, roof carriers, reverse parking system, reverse camera, sun film, GPS, upholstery and many more. In addition to this, the store offer specialty bicycles and a basic range of two wheeler accessories such as helmets and side cabinets. The store also offers a line of alloy wheels and seat covers. The specialty format also offers exclusive car care services through stand-alone specialty stores that try to offer consumers a pleasant, conducive and service oriented retail ambience at best value, along with quick fitment facility. This service takes care of maintenance services like car interior and upholstery cleaning, polymer coating and paint restoration. The services offered are personalised and overlooked by trained professionals.

Reliance Autozone is budding enterprise in a slowly flourishing part of automotive industry. Like many other Reliance undertakings, this one, too, focuses on quality, value-for-money and competitive pricing notions.

With an aspiration of brining to India world class automotive retailing facilities, Reliance Industries rolled out its retail line of automotive product few years ago. Over the last few years, Reliance Autozone has spread its cape across many cities in the country, with spacious stores launched in cities like Bangalore, Ghaziabad, Gurgaon, Jaipur, Pune and Jamnagar. With a vision to “create customer delight” by delivering world class quality at the best price with widest choice of automotive products and services, Reliance Industries’ venture into automotive retailing is a definite boon to the nascent industry.

Warrant against RIL Chairman Mukesh Ambani withdrawn

2011-12-19T04:01:00.001-08:00

Padmini Sudesh, the district president of Thrissur Consumer Disputes Redressal Forum, Kerala, has recalled the warrant against Chairman of Reliance Industries Limited (RIL) Mukesh Ambani after the company representatives deposited the dispute amount of Rs. 25,000 towards the case and filed an execution petition before the forum.

“The forum recalled the arrest warrant yesterday as Reliance Communications deposited Rs 25,000, which includes interest, after they moved a petition to recall the warrant issued on December 16," noted RIL lawyer K S Ravisankar.

The order was passed by the Thrissur Consumer Disputes Redressal Forum based on a petition filed by a local resident Joseph Makkolil in 2005; when Mukesh Ambani was the managing director of Reliance Infocom. The complainant had purchased a Reliance Infocom mobile handset in the year 2003. The mobile was purchased from a Reliance retail outlet on payment of Rs. 10,000 and promised various offers, features and service schemes. However, according to Joseph’s advocate Seby J Pulley, the complainant found that the company had miscarried the terms and conditions stated during the time of purchase of the services and, in order to seek redressal for the same, he moved the consumer disputes court against Reliance Infocom Ltd managing director and the manager of Reliance Infocom branch in Thrissur in 2005. The forum then directed Reliance on October 30th 2010 to pay a fine of Rs. 24,000 to the complainant within a period of two months. Because the allotted time gap lapsed, the court issued a warrant against the chairman of RIL seeking immediate action. Just last week RIL representatives took the matter of redressal and sorted it promptly by paying the necessary compensation amount as well as an interest sum that had accumulated over the five years.

RIL advocate K S Ravishankar said that an execution petition has been filed as Mukesh Ambani is no longer the managing director of Reliance Infocom Ltd. Also, the arrest warrant was issued on an ex-parte hearing.

Reliance strikes 4 deals for selling gasoil in 2012

2011-12-16T04:36:00.001-08:00

Index heavyweight and India’s largest private sector oil and gas company Reliance Industries Limited (RIL) has concluded at least 4 term contract deals for 2012 in exporting gasoil. Reliance is keeping a close eye on many more prospective buyers say sources with direct knowledge of the matter.

The gasoil that is used as fuel in many sectors of the industry is being sold at a premium of $3.00 to $3.10 per barrel to the Middle Eastern markets for the 500ppm sulphur gasoil variety and in the price range of $4.00 to $4.50 per barrel for the 10ppm category of the fuel.

The exact details of the contract and the quantity have not been disclosed sources said. Traders have said that the quotes for the 500ppm variety are 40% higher than the usual market premium of $2.10 per barrel owing to the current volatile situation of the currency exchange market and various other market conditions. The details of the 10ppm gasoil are known as of yet.

Sources say that the term premiums charged by RIL as in tune with the market prices of that currently prevalent in the Middle East.

Market experts say that the term premiums for the next year are usually higher than that of the current with calculated predictions that the market demand will improve from African and Middle Eastern markets.

The term contracts are a decent indicator of the growth and stability of a company for the coming period say Singapore traders.

The finalizing of contracts come just a day after Reliance Industries regained the numero uno position on the stock market indices indicating improvement of the market conditions in India against the backdrop of the bearish market in the Eurozone regions citing the debt-crisis. Markets experts say that these term levels are up to expectation keeping in mind the potential growth of the region and could improve even further.

Reliance Industries reclaims the title of ‘most influential company instock market index’

2011-12-16T04:11:00.001-08:00

Industrialist Mukesh Ambani led Reliance Industries Limited (RIL), India’s largest private sector conglomerate, has reclaimed the title of being the most influential company in the Indian stock market, pushing the previous title-holder – Infosys - to the second position.RIL stood at 10.39 per cent at the end of Thursday’s trade, accounting the maximum weightage for any constituent of the 30-share index on Bombay Stock Exchange (BSE) benchmark - Sensex.

Sensex is a free-float market capitalization weighted stock market index of 30 accomplished, entrenched and financially sound companies listed on Bombay Stock Exchange. These companies represent various industrial sectors and are some of the most actively traded stocks in the market. For many years, RIL has enjoyed its position as the most influential stock in this index. Its stock’s movement has been a crucial antigen for any major fall or rise in the index. Earlier this week, IT-company Infosys had taken over the prestigious title, pushing Reliance Industries to a close second. However, after a brief run of thee days, Mukesh Ambani-led RIL reclaimed the number one position from Infosys. Apart from being the number one influencer on BSE Sensex, RIL is the second most influential company on 50-share Nifty Index with a weightage of 8.78 per cent and third in terms of “group’s influence” on the market.

RIL stock has been highly strung for most part of the year. But with the end of 2011, Reliance Industries has resurfaced as the most influential market mover on the country’s oldest stock exchange and its market barometer.

Reliance Industries, a prime private sector company, has been rigorously trying to overhaul and streamline its processes in an effort to grown into a global company. Following many prolific deals and partnerships with leading international companies, including BP and DE Shaw, and introduction of international standard management processes in its many subsidiaries, Reliance Industries is certainly looking to making it big and better in the near future.

Don’t Miss Out on the Diamond Rush at Reliance Jewels

2011-12-12T05:58:00.001-08:00

Reliance Jewels launched ‘The Biggest Diamond Rush’, which started from December 1st to January 22nd 2012. The two month Diamond Rush will be hosted at all Reliance stores across the nation. Reliance is popular for providing incredible shopping experiences for its valuable customers. This new initiative is a step to take shopping for diamonds to a more memorable level.

Senior Vice President and Business Head of Reliance Jewels, Mr. Ashok Kaul announced a discount of up to 100% on making charges and a 2N/3D free holiday pack from Club Mahindra on every purchase. The offer is also combined with a bumper prize. Customers have to fill in a contest form and a lucky draw will decide 8 lucky winners who will be awarded an absolutely free lifetime membership from Club Mahindra.

The Diamond Rush offer, which commenced on December 1st 2011, promises a prolonged 2 month long incredible shopping experience for all Reliance customers. An amazingly attractive offer and contest has been introduced at the most convenient shopping time. Most of the people are excited to shop for New Year’s Eve, and Reliance Jewels has added to the shopping fever by introducing ‘The Diamond Rush’ offer.

Anyone who wants to flaunt exquisite diamond jewelry while greeting the New Year ought to check the collection at Reliance Jewels. You can also gift your loved ones with dazzling diamond jewelry to welcome the New Year. You should surely not miss out the 100% discount on making charges which will help you save a lot of money and especially clubbed with the special discounts and contests at Reliance Jewels.

On asking Senior VP and Business Head of Reliance Jewels, Mr. Ashok Kaul’s views about the offer, he commented, “It has always been our constant endeavor to work towards not only innovating and enhancing our product quality but also engaging with our customers on various occasions. We are extremely delighted and confident that this offer and contest will surely provide the customers with an exciting and remarkable shopping experience and will receive a positive response from our customers across the country.”

Reliance Jewels offers beautiful gold and diamond jewelry (in 22 and 18 karat gold) in traditional, western and fusion looks. You can shop for either a wedding or a party at Reliance Jewels. Reliance Jewels has 32 exclusive showrooms spread across 23 cities and is one of the largest jewelry retail store chain in India.

Reliance Plans to Enter FastFood Business

2011-12-12T05:21:00.001-08:00

Reliance Industries Limited, the flagship company of Reliance Group will soon be entering the fast-food business and what more, with its own brand. Mukesh Ambani owned Reliance Industries Limited is known for venturing new businesses for growth. It’s most recent and much awaited advent is the launch of 4G wireless services at affordable rates.

Executives from Reliance affirmed the news and added that Reliance will develop Quick Service Restaurants (QSR) concept within 3 to 4 months, under the leadership of Rishi Negi. Rishi Negi is the COO of multiplex operator Fame India, a company partly owned by younger sibling, Anil Ambani. Negi also has quite some experience in the delicatessen industry too. He was the COO of Pizzeria Restaurants, which operated India’s most popular Pizza franchise, Pizza Hut a few years ago. He was also the food and beverage manager at Taj Coromandel, Taj Group’s 5-star hotel in Chennai.

The hotel industry is growing at the rate of 25% a year and Reliance’s entry into this segment certainly sets a lot of customer expectations. International brands like McDonalds and Dominos introduce ‘Indianised cuisines’ to satisfactorily serve the taste buds of Indians. They make constant attempts to replace popular local food chains like Jumbo King and Saravana Bhavan. Reliance’s QSRs will pose more competition to these brands.

Reliance plans to build its food model based on food chains such as Dominos and McDonalds. They will have a complete standardized menu and express delivery, added the executives. Reliance will launch independent outlets as well mark their presence in food courts.

One of the executives said,” The Company is looking at anything suitable for Indian palate, be it Chinese, Italian or Indian cuisine. With a hypermarket format already attracting a large number of consumers, it makes sense to bundle in food as well.” Reliance is expected to launch its new business in major cities like Delhi, Mumbai and Bangalore. Reliance Group loves to experiment and have experimented with fresh bakery products at its hypermarkets, Reliance Mart.

The retail subsidiary of energy major RIL, Reliance Retail operates around 1,146 multi-brand outlets nationwide through chains such as Reliance Fresh, Reliance Super and Reliance Mart. The name of Reliance’s new venture is yet to be announced. Spokesperson from the company has declined to comment.

Reliance Digital Hosts Attractive Offers On Televisions

2011-12-07T05:14:00.000-08:00

Reliance Digital, the one stop shop for electronic products gives umpteen reasons to enhance shopping experience for customers. Reliance Digital Stores is hosting numerous offers on televisions to add value to your money. It is offering a number of attractive freebies on the purchase of televisions. Let us take a look at some special offers at Reliance Digital.
Samsung’s 46 3D Smart LED TV 46D6600 is available for Rs.15,000 lower than the MRP at Reliance Digital. Along with the discounted rate, you also get Samsung Soundbar with wireless subwoofer and two 3D glasses worth Rs.32,700 absolutely free. On every purchase of 32 LED TV, you get Philips Bluray Player worth Rs. 7990 at Rs. 2990 only and with 32 LCD TV, you get Samsung DVD player with USB, worth Rs. 2900 totally free. You can get Onkya Home Theater System for less than half its price on the purchase of 40 LED TV and above.
Sony 40 LED TV, which features Bravia Internet Video, Skype Ready, 4 HDMI, etc can be purchased at Rs. 64,900 as opposed to its MRP of Rs.68,900. LG 32 LCD TV with intelligent sensor and smart energy saving is available for Rs. 25,690 (MRP: Rs.28,990).
Reliance Digital has amazing offers on its own brand of electronics ‘Reconnect’ as well. You can take home Reconnect’s 42 LED TV at a down payment of Rs. 11,097 and pay the remaining amount in 7 EMIs of Rs. 3,414 each. You can also avail the Philips Bluray Player offer along with this discount. Reconnect’s 32 LED TV is available for Rs. 21,990. Along with Reconnect’s 32 LED TV, Philips 5.1 Channel Multimedia Speakers and 5.1 Channel DVD Player with USB can be purchased at a discount of more than Rs.5000.
For more details about the numerous offers on Televisions at Reliance Digital, you can check the Reliance Digital Website. If you wish to express your concern, feedback or have any questions regarding the offers, you can fill the Reliance Digital Feedback form available on their website.
Special discounts and offers are not the only reason to choose Reliance Digital. Firstly, it has the widest and the latest range of electronics products with the lowest price guarantee. It has special experience zones which enables customers to test and check the quality of the products before paying for them. There are 0% finance schemes available to keep your pockets happy. The best factor about Reliance Digital is that it provides 365 days service for extended hours. So, you ought to check the offers at Reliance Digital for all your electronics shopping.

Reliance Digital comes up with Special Season offers on Televisions for Christmas. All the Offers are available at all Reliance Digital Stores across the country.

RIL to hit data services market with 4G technology on Rs. 3500 tablet

2011-12-06T21:04:00.001-08:00

Mukesh Ambani led Reliance Industries Limited (RIL), India’s largest private sector company by market valuation, is planning to alter the course of data services market altogether. Igniting this change will be RIL’s ambitious plan to roll out fourth generation (4G) mobile broadband services by the end of 2012, that too on attractively priced Rs. 3500 tablets.

Initially, RIL planned to roll out 4G services on data cards that could be plugged into communication devices. As of now, RIL is planning to bundle up 4G services with low cost tablets, which will cost one-fourth the price of a regular 3G enabled tablet. The data services offering will be priced as low as 1 GB at Rs. 10 – nearly one tenth of the current 3G prices.

Reliance Industries entered the mobile broadband sector by acquiring 95% stake in Infotel, which emerged as a successful bidder in all the 22 circles of the auction for Broadband Wireless Access (BWA) 4G Spectrum conducted by the DoT in June 2010, becoming the only company to have pan-India spectrum to offer wireless broadband services on the 4G technology platform. In rolling out this technology, RIL hopes to be the chief catalyst in a building knowledge economy that can place India at the forefront of the countries providing world-class 4G services.

Industry analysts believe that RIL’s entry into the telecom quarter is certain to revise and revive the sector all together. By subsidizing the prices for data services well as for the carrier technology, Reliance could easily render 3G services obsolete. Also affected will be the players in the dongle business, plug-in devices that provide wireless connectivity to the internet. Undoubtedly, RIL’s foray into the sector will ring in good news for customers as it is likely to push down the prices of broadband services and boost access to internet across the country. With auxiliary plans of leveraging 4G broadband services into digital education format, RIL is looking to widen the scope of 4G technology at length.

Cast of Ladies v/s Ricky Bahl to visit Reliance Digital, New Delhi

2011-12-05T23:02:00.001-08:00

The cast of upcoming Bollywood movie ‘Ladies v/s Ricky Bahl’ is set to visit the capital city for promotion of their film. They will visit New Delhi for a press meet being held at Reliance Digital store- a multi-brand electronics retail store- located in Ambiance Mall, Vasant Kunj on 6th of December at 6 p.m. This is the first official press meet for the movie, which is slated for release on Friday, 9th December.

Ladies v/s Ricky Bahl is a romantic comedy directed by Aditya Chopra and produced by Yash Raj Films. The lead pair - Ranveer Singh and Anushka Sharma – will be seen together for the second time after their successful pair-up in the 2010 block buster ‘Band Baaja Baraat’. The story is that of con artist Ricky Bahl (Ranveer Singh) who, after duping three women, faces to meet his match in a certain Ishika Desai (Anushka Sharma).

Reliance Digital - India’s leading electronics retail chain – is a popular hot spot for film promotion events across the country and this time around the electronics giant is set to host the cast of Ladies v/s Ricky Bahl on their visit to the capital city.

About Reliance Digital: Reliance Digital is a multi-brand electronics retail format from the house of Reliance Industries Limited (RIL). It is a modern electronics store that offers every major electronic item under one roof. Carrying a wide assortment of products from high-end LED and LCD TVs, microwave ovens, refrigerators, washing machines, mobile phones, laptops, gaming consoles and software, home appliances, mp3 players to even the smallest of IT based devices, Reliance Digital is a one-stop shop for all things electronic. Spread across 17 cities, Reliance Digital is one of the most popular electronics retail destinations in the country for offering the best in technology at the best possible prices.

Reliance Digital-Jaipur to welcome the cast of Ladies v/s Ricky Bahl

2011-12-05T01:28:00.001-08:00

The cast of ‘Ladies v/s Ricky Bahl’ will be visiting the vibrant city for Jaipur to promote their upcoming film, slated for release on 9th of December. A press meet is being held with the cast members on 5th December at 6 p.m. at Reliance Digital store- the multi-brand electronics retail store- located on Sardar Patel Marg, Jaipur.

Reliance Digital - India’s leading electronics retail chain – is a popular hot spot for film promotion events across the country. Given the store’s spacious setting and popularity, Reliance Digital has become the much preferred destination for audience interaction and promotional activities for films slated for release.

Reliance Digital Expands Its Network At Hyderabad And Bangalore

2011-12-02T03:46:00.000-08:00

Reliance Digital, India’s fastest growing and most popular consumer electronics retail chain is all set to expand its existing network to Hyderabad and Bangalore. Following the success of their numerous store launches over the past few months, Reliance Digital will inaugurate 2 new stores on 3rd December, 2011, offering an exhaustive range of electronic products and household appliances.
Reliance Digital will spread its nationwide network in Hyderabad at NSL Centrum, S1, Survey 1043 and 1048, KPHB Phase 1 and 2, Kukatpally, Hyderabad – 72. The Reliance Digital Store at Bangalore is located at: No. 403, 4th Cross, 3rd block, Jala Vayu Vihar, HRBR Layout, Kammanahalli, Bangalore – 560043. These new stores will offer the latest merchandise at the best possible rates. Reliance Digital will host numerous offers for its valuable customers. It not only provides value for money but offers the finest quality, latest technology from over 150 national and international brands.

About Reliance Digital: Reliance Digital is the consumer durables and electronics arm of Reliance Retail, a subsidiary of Reliance Industries Limited. It is a one stop destination for all electronic items ranging from home appliances, communication devices and gaming to entertainment utilities, gaming consoles, audio and video products and many more. It houses over 4000 electronic products under one roof. This value oriented consumer electronics chain offers electronic products that complement every aspect of your lifestyle. It entwines special, easy-on-pocket offers with every purchase to enhance shopping experience. It is truly a shopper’s paradise for its widest range of electronic products.

Winner Of ‘Win An iPad’ Felicitated At Reliance Digital, Vashi

2011-12-01T05:48:00.000-08:00

Reliance Digital, the consumer electronics, durables and IT arm of Reliance Retail has announced the winner of ‘Win an iPad’ contest conducted in the first week of November. The winner, Billy Sam Varghese was felicitated at Reliance Digital Store, Vashi.
‘Win an iPad’ contest by Reliance Digital had scored a good response on Reliance Digital’s Facebook Fan page. The number of participants was very high and the lucky winner chosen by the Reliance Digital Team was Billy Sam Varghese. The contest hosted a video on the Facebook Page, the participants were expected to watch the video and answer 5 simple questions based on the video. The ‘lucky one’ who answered all the questions correctly was chosen by the Reliance Digital Team and felicitated soon after that.
Reliance Digital is every shopper’s favorite destination for shopping electronic products. It is popular for hosting numerous contests and movie promotions at its various outlets across the nation. The value-based electronics retail chain goes out of its way to win customers’ goodwill and ‘Win an iPad’ contest is only one of its step towards good customer service.
About Reliance Digital: Reliance Digital is the electronics subsidiary of Reliance Retail, a major subsidiary of Reliance Industries Limited. Reliance Digital offers more than 150 national and international brands and over 4000 electronic products. Its wide range of electronics includes computers, gaming, telecom products, household appliances, softwares and many more. It lives up to its slogan ‘We bring technology to life for you’. Reliance Digital is highly popular for offering the best technology at the most affordable rate.

Reliance Industries to raise $1 billion to finance shale gas ventures

2011-11-30T06:05:00.001-08:00

Mukesh Ambani-led Reliance Industries Limited (RIL), one of the world’s leading energy corporations, is planning to raise more than $1 billion to fund its up-and-coming shale gas ventures in the US. RIL will undertake this proposition by selling bonds to foreign investors in the 2.25-2.50% range, about 125-150 basis points above Libor. The funds thus generated will also be directed to Reliance’s Jamnagar facility which is one of the world’s largest refining complexes.

Reliance Industries, India’s largest private sector conglomerate in terms of market valuation, is expected to draw funds with assistance from Citibank, Bank of America and UBS – the merchant bankers to the proposed 10 year dollar bond issue. The company plans to initiate talk with its investors from mid December onwards.

Industry speculations ascertain that RIL, as a priority, will direct a large portion of the funds generated from bond issue to meet the operational expenses of its shale gas projects in the US. The company has inked joint ventures with three US based shale gas companies - Chevron (RIL- Chevron), Carrizo (RIL- Carrizo) and Pioneer (RIL-Pioneer) to extract gas from the three shale gas fields. RIL has already started drilling on two beds and will start operations in the third one by May next year. Reliance Industries has so far invested close to $2.5 billion in its shale gas joint venture projects, with $400 million invested during the April-June financial quarter - the best ever financial quarter for Reliance in the last three years.

With plans to augment its existing shale gas projects and to increase the count of total shale gas assets in the coming years, RIL is keen on increasing its investments in this sector. Also, being an AAA rated firm, it will be relatively easy for the company to gather foreign investors who find it comfortable to invest in companies such as RIL.

Reliance Industries to support to Mumbai surveillance project

2011-11-28T06:16:00.001-08:00

Mukesh Ambani-led Reliance Industries Limited (RIL), in association with Siemens AG, has joined forces along with other leading private sector companies to support an initiative by the Maharashtra state government that aims to secure Mumbai by installing home land security systems, such as video surveillance cameras, command and control centers and data serves across the city. Apart from Reliance Industries –Siemens, the state government has shortlisted six other syndicates for this project, including Wipro-Airtel, Schneider-IBM, Allied Technologies and Cisco, HCL and Revmax Infotech, TCS with its subsidiary CMC Limited and MTNL and Electronics Corporation of India (ECIL) partnering with Divitel and Acosta Electric.

These private sector companies will lend their support in installation of cameras, creating and managing software architecture to monitor and analyze streaming footage at various command centers and setting up data storage servers. Reliance Industries, for instance, will be providing 4G seamless telecom bandwidth along with project management skills to its associate partner Siemens – a company known to offer exemplary security solutions globally. Reliance is well-known to operate the world’s largest integrated security automation system of over 12,000 cameras, advanced sensors, radars and video analytics for its corporate headquarters, branch offices and even retail stores. Also, Reliance Industries subsidiary ‘Reliance Security Solutions’ and Siemens had recently signed a deal to mutually develop astute security solutions for safe, secure and smarter cities and highways in India earlier in September.

Other private companies will leverage their expertise in IT, telecom etc. to offer solutions for developing infrastructure for home land security. This project is estimated to cost Rs. 600 crore and will be completed in the course of next five years.

As the role of surveillance and security assumes greater importance, there is an emerging need to move over to intelligent electronic security solutions. This initiative by Maharashtra state government is likely to serve as a template for other cities to follow. And with support from leading companies of the country, Indian cities can hope to see better surveillance systems in place over the coming years.

‘The Dirty Picture’ Actor Emraan Hashmi To Visit Reliance Digital, Jaipur

2011-11-28T05:41:00.001-08:00

Reliance Digital, the electronics arm of Reliance Retail, a subsidiary of Reliance Industries Limited is set to welcome Bollywood heartthrob Emraan Hashmi. On 29th November 2011, Reliance Digital Store at Jaipur expects a horde of fans to greet Emraan Hashmi. His visit to the store is for the promotion of his much awaited movie ‘The Dirty Picture’.

The Dirty Picture is a biopic based on the life of South’s most sensational beauty, Silk Smitha. The sobriquet ‘Silk’ was added to her name after she played the role of a bar girl named Silk. The upcoming movie ‘The Dirty Picture’ is slated for release on 2nd December 2011, which is Silk Smitha’s birth anniversary. Having promoted the movie at numerous events across the nation and various Reliance Digital outlets, Emraan Hashmi is geared up to visit Reliance Digital, Jaipur.

The Reliance Digital Store at Upasana Tower, Sardar Patel Marg, Jaipur anticipates a swarm of fans to heartily welcome the actor. Over the past few months, Reliance Digital has been film stars’ favorite destination to promote their upcoming movies.

About Reliance Digital: Reliance Digital is the consumer durables and electronics arm of Reliance Retail. It is popular for offering multi brand high end electronic products under one roof. It hosts electronic items ranging from LCD TVs and LED TVs, digital cameras, laptops, IT accessories, home appliances, gaming consoles and softwares and everything under the category of electronic goods. It offers the best technology at the most reasonable and affordable prices. Its unique selling propositions make it a favorite shopping destination for electronic items.

Mukesh Ambani’s Meet with PM Surprises Media

2011-11-25T04:04:00.001-08:00

November 24th, 2011: Mukesh Ambani, Chairman and Managing Director of India’s largest private sector conglomerate, Reliance Industries Limited surprised the media when he stepped out of Prime Minister, Manmohan Singh’s office. His presence in the Prime Minister’s office in Parliament was not known till after the end of his meeting with Manmohan Singh. When questioned about the details of the meeting, Mukesh Ambani commented,” I met him just like that.”

The meeting coincides with Oil Ministry’s flak about the steep fall in output from the east coast KG-D6 gas field, the largest gas field in India. The Oil Ministry had expressed reservations about some of RIL’s expenditure on its flagging KG-D6 gas fields. On November 22nd, Petroleum Secretary, Mr. G. C Chaturvedi said that in the next three to four weeks, the Petroleum Ministry will announce its plan of action regarding the gas output. However, it is uncertain if Mukesh Ambani indeed raised this issue in his discussion with the PM. The company’s spokesperson has refused to comment on the meeting.

The Petroleum Ministry is currently calculating the amount of expenditure they will disallow to penalize RIL’s fall in output from KG-D6 fields. The Ministry has also received views from the law ministry on this issue and is scrutinizing it. Though the law ministry has not quoted any amount, sources from the petroleum ministry say that an approximate of $1.85 billion (Rs 9,600 crore) out of the $5.69 billion (Rs 29,600 crore) investment in the facilities may be disallowed.

Reliance currently produces 42 mmscmd from the gas fields against 60 mmscmd achieved earlier and opposing the promised 80 mmscmd as per the development plan. Reliance is trying to increase the output from D-1 and D-3 gas-fields in the block. The operator has been suggesting that the only solution to bring the currently producing gas-fields to production is to develop satellite fields around them.

The timing of Mukesh Ambani’s visit is interesting and could earn RIL stronger leverage within the government. In its responsibility as the nation’s largest fuel supplier, favorable solutions will be surely worked out with the government as a whole and the oil ministry specifically.

Reliance Digital Delhi Set To Welcome Cast Of ‘The Dirty Picture’

2011-11-25T03:27:00.001-08:00

25th November, 2011: Reliance Digital, Ambeince Mall, Vasant Kunj, Delhi is all set to heartily welcome the cast of the much awaited movie ‘The Dirty Picture.’ Heart throbbing film stars Emraan Hashmi and Vidya Balan plan to visit Reliance Digital to promote their upcoming movie. Reliance Digital, a subsidiary of Reliance Industries Limited, a multi brand electronics retail store is a hot spot for film stars to meet their fans and promote movies.

The story of the movie The Dirty Picture is based on the life of Southern superstar Silk Smitha. The upcoming movie directed by Milan Luthria and produced by Ekta and Shobha Kapoor is slated for release on 2nd December – birth anniversary of Silk Smitha. Over the past few weeks, the cast has been promoting their movie at various events across the nation and is now prepared to meet fans at several Reliance Digital outlets, heading towards Delhi, Vasant Kunj on 27th November, 2011.

Over the past few months, Reliance Digital has hosted many film stars promoting their upcoming movies. It is not only a favorite destination for shopping electronic products but also for promotion of movies. The Reliance Digital Store at Bangalore expects a horde of fans to greet the film stars.

About Reliance Digital: Reliance Digital is a multi brand, consumer durables and electronics arm of Reliance Retail. It offers a large variety of high end electronic products under one roof. It hosts electronic items ranging from LCD TVs and LED TVs, digital cameras, laptops, IT accessories, home appliances, gaming consoles and software and everything classified under the category of electronic goods. Its network is spread across 17 cities and is popular for offering the best technology and best value for money.

Telecom Operators Await Telecom Commission’s Final Say

2011-11-23T06:12:00.001-08:00

Department of Telecom has accepted recommendations for pricing 2G spectrum by the Telecom Regulatory Authority of India. The internal committee has rejected other proposals and the telecom commission will announce its final decision on November 28th. GSM mobile operators have their fingers crossed till the final decision.

The proposals rejected by the committee include those related to changing the roll out obligation norms, reducing license fee to 6 percent and relaxing mergers and acquisition norms.

The TRAI proposed that 2G spectrum price beyond 6.2 MHz should be Rs 4,571 crore per MHz. The DoT committee has accepted this proposal and the price will be calculated from May 27, 2008 for the remaining period of the license. The panel’s decision will affect incumbent players such as Bharti Airtel and Vodafone, which have up to 10 MHz spectrum in some circle. The panel has also accepted TRAI’s proposal to price spectrum in the 900 MHz band 1.5 times higher.

TRAI proposed that all operators should pay uniform revenue share of 6% as license fee. However, the DoT panel has denied it and has proposed a uniform fee of 8 percent. Currently, operators pay license fee between 6 percent and 10 percent of their annual revenues. Infrastructure providers such as tower companies and Internet service providers do not pay any revenue share to the Government. A uniform rate of 8% will increase the burden on all telecom companies.

Another proposal by TRAI suggests that operators with spectrum in 800/900 MHz band should be kept out of auction for 700 MHz band. Though DoT has accepted the proposal in principle, it will give its final decision after TRAI gives recommendations on spectrum re-farming.

If DoT finally accepts the above mentioned proposal, incumbent operators like Airtel, Vodafone and Reliance Communications will not be able to bid for the 700 MHz band, which is globally used for 4G spectrum. Reliance Infotel, a subsidiary of Reliance Industries Limited and a few new GSM players will be among the bidders for the 700 MHz band.

TRAI suggested that a fund should be set up for spectrum re-farming. However, DoT panel has rejected the proposal by providing argument that re-farming costs can be met from the consolidated fund of India.

Roll out obligation should be based on habitation and not geography, proposed TRAI. DoT panel said that it is not possible to change the norms now because most of the operators have already completed roll-out obligation. Also, there are limitations in measuring habitation due to undefined boundaries in villages.

The final decision by the telecom commission is eagerly awaited by telecom operators. The proposed tightened norms will certainly affect the incumbent players in the telecom industry.

Mukesh Ambani All Set to Lead Reliance Industries into New wave Of Growth

2011-11-23T05:46:00.001-08:00

Reliance Industries Limited (RIL), India’s largest private sector company in terms of market capitalization, is a pioneer in the country’s core sectors of energy and petroleum (E&P), petrochemicals and retail. And with 2012 on the horizon, the company is looking to expand its scope beyond these realms. Led by Chairman of RIL, Mukesh Ambani, the company is now gearing up to take on additional sectors to prompt its new phase of growth – a growth led by forging global partnerships and diversifying the scope of business.

Mukesh Ambani had expressed his plans of forging new partnerships to pursue new growth opportunities for Reliance Industries at the AGM 2011 held in the month of July. In keeping with this scheme of action, the company has been signing long term deals with major companies in the sectors of financial services, telecom, education and hospitality in order to culminate larger-than-life ventures that stand as testaments of value and purpose. For starters, RIL inked a 50:50 joint venture with hedge fund leader DE Shaw earlier this year to enter the booming sector of Indian financial services. Through this venture, Mukesh Ambani led conglomerate hopes to offer across-the-board range of financial services including lending, algorithmic broking, stock broking, mutual funds and asset management in an effort to position themselves as a full-fledged financial services firm. The JV has already been allotted requisite permissions from SEBI and Nations Securities Depository Ltd., and it plans to start operations from January 2012. RIL has also brought Bharti Group's 74 per cent stake in insurance joint ventures with AXA of France to add to its financial services circle.With respect to telecom sector, Reliance Industries will re-enter the segment through Infotel Broadband in which it has acquired 95% stake. RIL has already mapped plans for investing nearly Rs. 15,000 croresinto the sector. It is also in talks with leading telecom tower players to lease more than 50,000 towers to support it plans of rolling out 4G broadband services very soon.

In the education sector, Reliance has picked 38.5 % stake in Delhi-based digital educational company Extramarks. This initiative closely parallels RIL’s plans of taking on broadband services sector through plans of leveraging 4G broadband services into digital education format. As far as hospitality industry is concerned, RIL bought 14.12 per cent stake in East India Hotels, which runs the prestigious chain of Oberoi hotels earlier this year.

Valued at $26.7 billion as on September 2011, Reliance Industries is already a force to reckon with. Given its plan to take over many more sectors within country, one can soon find a Reliance Industries stamping in every major circle over the course of coming decade.

Uncharted 3: Drakes’ Deception – Expectations certainly nailed!

2011-11-22T06:26:00.001-08:00

After Uncharted 2 swept the awards table last year for outstanding gaming, expectations from Uncharted 3 were certainly very high. The challenge for Uncharted 3 was to live up to the repertoire of its predecessor, if not out do it. The result: a definite success. Uncharted 3 comes as a refreshing addition to the Uncharted series and it stays true to the elemental characteristic of “adventurous pursuit” the series has donned so far.

The main protagonist of Uncharted 3 is of course Nathan ‘Nate’ Drake, supported by Victor ‘Scully’ Sullivan. This time around the plot revolves around a 16th century artifact that belonged to Sir Francis Drake, Nate’s ancestor. The game takes Drake and Scully on a globetrotting journey, from running across chateaus in France to chasing clues in a Syrian Citadel, as they try to pursue this artifact, only to realize a deeper connotation to the plot which leads to unfolding of a larger quest. The story unfolds excitingly to reveal many hidden secrets that involve clandestine organizations, a cursed city and even Queen Elizabeth. A certain Katherine Marlowe is introduced in this series - an English vileness and Drake’s main enemy in the story. Drake’s relationship with Elena Fisher has been mellowed, but this works for a story that parallel’s an Indian Jones-like plot and demands for more action-packed sequences.

Uncharted 3 takes the point on three main counts: graphics, cinematography, and plotline. In terms of graphic designing, Naughty Dog has outdone itself in designing a top-of-the-line gaming experience. The game features new innovations in smoke, fire, sand and water effects, which further adds to the movement of the characters. There is a more realistic element to animation, which is greatly complimented by superb inputs from voice actors and energetic back ground score. As compared to previous Uncharted counterparts, this one comes with improved action-sequences. For one, there is an option for equipping Drake with multiple fire arms. Drake can now take on opponents in more ways than before, from hand-to-hand combat with multiple opponents to relative melee attacks. Stealth options have been improved remarkably, allowing Drake to undertake deeper gunplay. For instance, if Drake is undetected by his enemies, there is an option to use stealth to take them out by sneaking up behind them and killing them with one hit.

Naughty Dog had been talking about introducing advanced multiplayer option, and it has done precisely so in Uncharted 3. Kickbacks and Power play has been introduced to improve multiplayer gaming and although the options for customising additional characters are few, the improvement is rather balanced and welcomed.

Overall, the game works tremendously well because of its strong pull-factor. Once you start playing this game, it is almost impossible to put your console down. And because everybody likes a good adventure, it does not get more adventurous than Uncharted 3. Naughty Dog has exploited the plot rather well and the fine line between realities and virtual almost seems blurred when moving through the game.

Take from the fact that Uncharted 3 has been acknowledged as the Best PS3 game and the best action game by several media outlets, you can be assured that the game does not disappoint.

Uncharted 3: Drake’s Deception is now featured at Reliance Digital, one of India’s largest multi-brand electronic retail chains. Reliance Digital, a hub for things related to electronics and gaming, is one of leading retailers of gaming software and gaming consoles, including PlayStation series.

Reliance Digital Lucknow Hosts The Cast Of ‘The Dirty Picture’

2011-11-22T05:32:00.001-08:00

Reliance Digital, the electronics subsidiary of Reliance Industries Limited is film stars’ favorite place for the promotion of their latest movies. On 23rd November, 2011 Reliance Digital welcomes the cast of Bollywood’s much awaited movie, ‘The Dirty Picture’. Reliance digital, Lucknow will be honored by the presence of Bollywood film stars Emraan Hashmi, Tusshar Kapoor and Vidya Balan, to promote their movie ‘The Dirty Picture’.

The Dirty Picture is a biopic based on the life of South’s most sensational beauty, Silk Smitha. The sobriquet ‘Silk’ was added to her name after she played the role of a bar girl named Silk. The upcoming film The Dirty Picture is scheduled for release nationwide on December 2nd, 2011, which is Silk Smitha’s birth anniversary. The movie is directed by Milan Luthria and produced by Ekta and Shobha Kapoor. The cast has been promoting their film across the nation over the last few weeks and is now ready to inaugurate Reliance Digital’s Store launch at Lucknow.

The Reliance Digital Store at RDRL West End Mall at Gomati Nagar, Lucknow expects a lot of fans to greet the vibrant cast. Over the past few months, Reliance Digital has hosted many film stars for the promotion of their upcoming films, and now heartily welcomes the cast of The Dirty Picture.

About Reliance Digital: Reliance Digital is the consumer durables and electronics arm of Reliance Retail, a subsidiary of Reliance Industries Limited. It offers multi brand, high end electronic products under one roof. Reliance Digital is popular for offering the best technology at most affordable prices. It enhances the shopping experience of customers through its unique selling propositions. Spread across the major cities in India, it is a favorite shopping destination of electronic products.

RIL-BP to Kick Start Sourcing and Marketing Of Natural Gas

2011-11-22T05:01:00.001-08:00

India Gas Solution, a 50:50 joint venture between Mukesh Ambani-led Reliance Industries Limited (RIL) and London based energy company BP Plc, has set rolling its plans to source and market natural gas in India. As a part of this objective, the joint venture partners are eyeing plans to set up three Liquefied Natural Gas (LNG) terminals in the eastern and western sea board of India.

Reliance Industries and BP signed a long-term deal as a part of which BP will stake 30 per cent share in 21 of 23 oil and gas production sharing contracts (PSC) that RIL operates in India, including its much acclaimed KG - D6 block off the east coast of Andhra Pradesh. Also a part of this deal is the 50:50 joint ventures between the two energy giants for global sourcing and distribution of gas in India. The joint venture company will also look to develop infrastructure to accelerate transportation and marketing of natural gas within the country.

In the first phase of developing sourcing and marketing channels, RIL and BP plan toset up at three LNG terminals, each one with a capacity of at least 5 million tonne per annum. Presently, India Gas Sourcing venture is conducting feasibility studies to set up two LNG terminals on the eastern sea coast and one on the western sea coast. Since western sea coast is already swamped with many similar outposts, the joint venture company will focus largely on establishing terminals on eastern sea board. However, a concrete plan is yet to be materialized and presented to the government for approval regarding the location and number of terminals for establishment. Locations like Dhamra, Mangalore, Kakinada and Paradip are top on the preference list for development; however a final call on locations will depend on the availability of infrastructure for distribution and locations that are ideal for BP to source gas to India.

Industry estimates suggest that natural gas demand is set to rise to around 410 mmscmd by 2019-20 as compared to actual consumption of around 177 mmscmd in 2010-11. With increasing demand for more natural gas, additional LNG terminals will be sought to fulfill the surging demand.

DGH Approves RIL’s Capex in KG-D6 Gas Fields

2011-11-21T06:16:00.001-08:00

Mukesh Ambani owned conglomerate Reliance Industries Limited has got a clean chit from the Directorate General of Hydrocarbon. Up to 2007-08, RIL spent $2.5 billion in developing the KG-D6 gas fields, which stands approved by the DGH, as CAG’s audit failed to quantify any loss to the exchequer.

Though RIL’s capital expenditure up to 2008 has been approved, CAG will now be inspecting accounts of RIL-operated D6 block since 2008-09, informs a technical advisor from the oil ministry. Officials from the oil ministry and DGH added that if there is any illegitimate expenditure, it will be recovered from the company. An official from DGH said,” The government can recover any amount indicated by CAG in its subsequent audits from RIL, as field-life of the D6 block is more than 20 years. Audit review is the prerogative of CAG which cannot be duplicated by the oil ministry.”

Out of the approved capex estimate of $8.8 billion, RIL has spent $5.59 billion in the development of D6 gas fields up to March 2011. An official who wished to be unnamed said that RIL has recovered the entire amount from proceeds of the fields. Rise in capex estimates for D1 and D3 gas fields from $2.4 billion in 2004 to $8.8 billion in 2006 for doubling the estimated output from 40 mmscmd to 80 mmscmd was under scrutiny too. The then oil minister Murli Deora had asked CAG to scrutinize accounts of private oil and gas operators, to confirm facts.

DGH requested CAG to give ‘specific recommendations’ on cost to be disallowed, when CAG report apprehended cost escalation by RIL in the D6 block. However, CAG has given no recommendations in this case. The final CAG report on performance audit of oil and gas blocks released in September has no mentions about cost escalation in the D6 block.

Cost recovery is the key plank of the New Exploration Licensing Policy (NELP), which invites bidders for oil and gas blocks. According to NELP, the risk is entirely borne by energy firms, and companies do not get any compensation for losses. The natural gas output from the KG-D6 fields has fallen below the target and the Oil Ministry has sanctioned taking action against Reliance Industries Limited. Oil Minister S Jaipal Reddy said that ‘scrupulous’ action may be taken against RIL for the falling outputs. Officials from CAG, RIL, DGH and the Oil Ministry chose to remain non-committal, when asked to confirm the news.

Cast of ‘The Dirty Picture’ to visit Reliance Digital, Ahmedabad

2011-11-19T00:24:00.000-08:00

The vibrant cast of upcoming Bollywood film ‘The Dirty Picture’, including Emraan Hashmi, Tusshar Kapoor and Vidya Balan, will pay a visit to the Reliance Digital store – a multi-brand electronics retail store - in Iscon Mega Mall, Ahmedabad on to promote their much anticipated film. The stars will visit the city on on 21st November, 2011, Monday.

The Dirty Picture is a biopic based on the life of southern superstar Silk Smitha. Directed by Milan Luthria and produced by Ekta and Shobha Kapoor, the movie is slated for release on 2nd December 2011 – the birth anniversary of Silk Smitha. Having promoted their film at various events in the last few weeks, the cast is now geared up to visit Ahmedabad to meet their fan in the city and promote their film to them.

Reliance Digital, a value-based electronics retail chain will play host to their visitors over the coming week. Reliance Digital, over the year, has been a favorite destination for film promotions, given the large presence of the retail chain across the country. And over the coming week, it will welcome the cast of The Dirty Picture just as well.

About Reliance Digital: Reliance Digital is a multi-brand value retail format from the house of Reliance Industries Limited. It is a state-of-the-art electronics store that offers every major electronic item under one roof. From High-end LCD and LED TVs, digital cameras, mobile phones, laptops, kitchen and home appliances, IT accessories to gaming consoles and software, Reliance Digital carries it all. Spread across 17 cities, Reliance Digital is one of the most popular electronics retail destinations in the country on account of offering the best in technology at the best possible prices.

Reliance Retail to roll out big-box hypermarkets; buys land in 20 cities and towns

2011-11-16T06:11:00.001-08:00

Reliance Industries Limited (RIL) subsidiary Reliance Retail Limited- India’s second largest retailer - is set roll out its next phase of retail expansion by funneling big-box hypermarket formats across the country. After the success of its pilot hypermarket formats in cities of Mumbai and Pune, Reliance Retail is optimistic about launching the format in other cities as well and has initiated work towards realizing its multi-lateral expansion plans

This new-fangled focus on setting up big-box formats will follow a different strategy; a shift from Reliance Retail’s existing retail strategy. For one, the new plan looks to buy land as against lease or rent space for erecting large-format stores.The company has purchased land in 20 cities and towns across the country, including Mumbai, Aurangabad, Kolhapur, Pune, Mysore and Madurai, in the last few months. These land parcels measure approximately 1-1.5 acres each and are estimated to support stores that can stretch anywhere between 60,000 to 80,000 sq. ft. of space. “We are buying land wherever there is scarcity of ready space, especially for our large-format stores. It will help in the long run as we don't have to depend on rent inflation and its fluctuations,” said Reliance Retail President Bijou Kurein. Secondly, the scale, the range of products on offer, and the consumer experience in the new format will be a slight contrast to that in existing retail formats. Large formats are capable of carrying large volumes and offer considerably higher margins as against smaller retail formats that Reliance Retail already has in place.

As the spotlight falls once again on retail segment, there is a lot riding on the new management of Reliance Retail to make this plan work. The company which is presently under the leadership of ex-Wal-Mart executives, Rob Cissel and Shawn Gray, is hoping to make Reliance Retail a strong and formidable player in India’s retail segment. Their efforts so far - from launching the first cash-and-carry format in Ahmedabad, to accelerating retail store launches has been quite successful and the management now hopes that the bid to establish larger formats will pay off just as well.

Reliance Digital: 50 stores and still counting

2011-11-16T05:43:00.001-08:00

Reliance Digital, a multi-brand electronics retail subsidiary of Reliance Retail Limited, part of Mukesh Ambani led Reliance Industries Limited (RIL) group, has a reason to rejoice as the electronics retail chain reached a store count of 50 this year. And to earmark this accomplishment, Reliance Digital hosted a grand celebration to commemorate the feat with its people and leaders in consumer electronics segment.

Reliance Digital CEO Mr. Brian Bade hosted the celebrations at Grand Sangam Ballroom of J.W. Marriot hotel, Mumbai and graciously welcomed Reliance Digital associates and CEOs of leading consumer electronics majors to the success party. Conveying his delight in having been able to achieve this mark of success for the company, Reliance Digital CEO expressed his hopes of continuing the same in years to come as Reliance Digital aspires to mature further and become one of India’s finest electronics retail chain. The party continued with fun interactions and exchange of encouraging words as guest dined and enjoyed their gracious hosts for the evening.

As Reliance Digital celebrates having reached a milestone in its journey so far, there is a lot of aspiration and anticipation of taking this success to the next level. Today, Reliance Digital stands as one of India’s leading and most popular electronics retail chain. The “value-purpose” the brand extends is unmatched by any other and, credited to its association with the Reliance namesake; there is a lot of trust and admiration associated with the establishment. Reliance Digital stores are magnanimous in form, offer an expensive range of electronics products to choose from and also offer end-to-end support services to augment a purchase. Add to it a pinch of value-for-money concept, and that almost sums up Reliance Digital’s continual goal. The legacy of Reliance Digital, one that borders on ‘being the retail establishment that offers the best electronics products and services, at the best prices to every consumer’ is a difficult one to sustain, but over the six years since its founding, Reliance Digital has come a long way in imbibing this quality rather innately.

Mukesh Ambani urges Indian government to push policy reforms with a swift-hand

2011-11-14T06:47:00.000-08:00

Expressing his views at the recently held World Economic Forum’s (WEF) India Summit (organized by the World Economic Forum and Confederation of Indian Industry (CII) in Mumbai) Mukesh Ambani, chairman of India’s largest private sector company Reliance Industries Limited (RIL), stated that the UPA government needs to push policy reforms in critical areas of functioning and incorporate quick decision-making skills to sail through the current turmoil of economic inflation.

Mukesh Ambani’s views were further supported by leading industrialists and businesspersons of the country who vociferously called upon the government to initiate faster growth programs that, congruently, take account of equitable growth and social justice in mind.

At present, India is facing the brutal brunt of a highly volatile economy. Rising inflation and the unhurried approach of the government to control it have driven investors - domestic and foreign - and entrepreneurs away from the once-admirable prospect of flourishing India. While the government stands to face a eye of rebuke, industrialists and business leaders including Mukesh Ambani are optimistic that things can turn around, given the government tightens its loose ends. Ambani said, “We need to get a minimum agreement saying at the end of the day we are working for all the people and we have to have a pathway to move towards 21st century governance.” His views underlined the need to have in place a government that acts more as a facilitator rather than as the mover of economic growth.

RIL chairman also opined that at present, India is need of dynamic governance, composed of young leaders as “leadership reflects our demographics”. He emphasized that in spite of the grim situation the world is facing, India is at a stage where it is ready to take-off on the back of a young population and high-level of entrepreneurship.

While the government lay in acceptance of the facts of its unruly conduct, it underscored the need to include with the suggested policy reforms elements of sustainable and ecological growth.

reliance CMD Mukesh Ambani speaks at the World Economic Forum India Summit, Mumbai. He suggests that there is need of the change in government decision making policies and dynamic leadership is the need of the hour for the Sustainable growth of the Country.

Flourishing cash pile to shore up RIL’s upcoming investments

2011-11-14T06:10:00.001-08:00

Standing on a well-heeled cash pile of nearly $17 billion, Reliance Industries Limited (RIL), India’s largest private sector enterprise on the basis of market capitalization, may just find its cash resources increasing by approximately $ 10 billion by March 2012, putting the corporate giant in a comfortable position to support its coming, ambitious investment projects.

Mukesh Ambani led Reliance Industries will see a major boost in its cash reserves as a result of the payment of remaining stake-sale proceeds from BP Plc and its strong operational cash flow, as anticipated by global investment banking major UBS.

RIL had cash and cash-equivalents of $9.5 billion as on 31st March this year, which was nearly double the level it accounted last year. Since then, Reliance has seen its cash reserves increase on the back of sale proceeds from the deal its signed with London base energy major BP PLc earlier this year. RIL has already received a payment of $7 billion in August and a balance payment of $3.2 billion in October from BP for 30 per cent stake in RIL’s 23 oil and gas blocks. Moreover, with a $7 billion strong treasury in place and growing operational cash inflow, Reliance Industries can expect to see its cash pile increase to around $25 billion.

Mukesh Ambani had expressed earlier on at AGM 2011 that the company will find itself debt-free on a net cash flow basis in the current fiscal. And this ambitious pursuit is expected to be realized by first quarter of 2012. With affluent cash reserves in place, Reliance Industries can be expected to drive this cash into its budding core energy assets, new businesses and a potential buy-back of shares. This could prove a positive boost for its stocks as well, says UBS. What will act as catalysts to RIL’s aspirations, as per UBS, is the tangible sight of value creation from developments in sectors like retail (with the government allowing foreign direct investment in retail) and its SEZ land assets.

Reliance Trends Spreads Latest Trends In West Bengal

2011-11-11T05:43:00.001-08:00

Reliance Trends, a subsidiary of Reliance Retail, the retail arm of Reliance Industries Limited has launched its first store in West Bengal’s Howrah District at Avani Riverside Mall. It will now spread the latest fashion trends in West Bengal too. This fashion apparel, luggage and accessories specialty concept of RIL is luxuriously spread over 20,000 square feet of shopping area. It offers more than 100 national and international brands, which include the best in the fashion and accessories industry.

The chief executive of Reliance Trends, Arun Sirdeshmukh said, “We are confident that even this store, with the latest fashion, high quality and very affordable prices, will be welcomed by our discerning consumers.”

Reliance Trends core value is ‘fashion at great value.’ It not only provides the best apparel and accessories from all over the world, but also offers its private label products for men, women and kids. It combines the latest fashion products with high quality and offers them for reasonably low prices, unmatched by anyone else in the industry.

Reliance Trends justifies the needs of all consumers. It offers ready to wear garments and also caters the needs of consumers who prefer to purchase for fabric and tailor their clothes. It aims at strengthening its foothold in Indian Apparel Industry, by expanding its presence all over the nation.

Reliance Trends is constant with its aggressive growth pattern and has expanded its retail presence by launching new stores in numerous cities and towns all over India. The store launch in West Bengal marks Reliance Trends’ 63rd store in India. It has previously launched Reliance Trends stores in Delhi, Gurgaon, Ghaziabad, Bangalore, Bhubaneswar, Hyderabad, Mumbai, Jalandhar, Ahmedabad, Kochi, Nashik, Indore, Vishakhapatnam, Chennai, Guntur, Thane, Vijayawada, Baroda, Mangalore, Jaipur, Ranchi, Nagpur, Mysore, Lucknow, Ujjain, Calicut and many other cities.

Reliance Digital’s Special Discounts on Latest Electronic Products

2011-11-11T05:35:00.000-08:00

If you want to shop for the latest fashion trends, the most ideal location is Paris. Likewise, if you want to purchase the latest electronic goods, you ought to visit the nearest Reliance Digital store. Reliance Digital, the one stop shop for latest electronic products warmly welcomes the new season with amazing and attractive offers. With the advent of winter, many are already set to welcome the New Years Eve. This season, Reliance Digital will add delight to your winter and New Year shopping through its ‘easy on the pocket’ offers.
To start with, Reliance Digital offers easy EMIs, with 0% interest on most of the electronic gadgets. It has special ongoing discounts on LED, LCD and Plasma TVs. You can not only purchase the latest LCD or LED TVs at reasonably lower prices than the MRP, but also take home free goodies. It offers Airtel Full HD DTH Connection absolutely free with the purchase of Sony 32 LED TV. The freebie on purchasing Samsung 40 LCD TV is Samsung 5.1 Channel DVD Player, worth Rs 2,900.
There are special discounts and attractive freebies on the purchase of home theatres too. The freebies include Vodafone Mobile, Transcend 8GB USB Pen Drive, Reebok Shoes worth Rs 3,599, 4GB MP3 Walkman, etc. On purchasing LG and Samsung side by side refrigerators, you get PSP worth Rs 7,990 is totally free. You can capture all the precious moments with the much desired Canon Digital SLR Camera, available under the easy installments scheme. 4 GB SD card and a carry case are granted free along with the high end SLR camera.
Reliance Digital also offers discounts on the range of cutting edge technological products. The slim and light weight Samsung Galaxy Tab P750 is available for a price almost Rs 2000 lower than the MRP. Lenovo laptop is equipped with a free IT accessories kit worth Rs 2,999. Motorola Fire, a recently launched Android phone offers 3G plan worth Rs 2,100 and Bluetooth worth Rs 1,299 totally free with the handset.
You can check more details about the ongoing offers on the Reliance Digital Website. It offers the widest range of latest electronic products, with lowest price guarantee. It has a special ResQ team comprised of technical experts, to aid all problems related to electronics.
Reliance Digital completely justifies its slogan ‘We bring technology to life for you’ and is indeed India’s fastest growing electronics retail chain.

Reliance Digital completely justifies its slogan ‘We bring technology to life for you’ and is indeed India’s fastest growing electronics retail chain. The numerous discount offers available at Reliance Digital are applicable to the entire range of over 4000 electronic products

‘Win An iPad’ Contest By Reliance Digital Has Begun

2011-11-03T05:45:00.000-07:00

Owning an iPad is a well cherished dream of many. Reliance Digital will help you materialize your dream. Reliance Digital is the consumer durables and electronics arm of Reliance Retail. Reliance Digital Stores offer a choice of 5000 products with over 150 national and international brands, and introduces attractive offers on a periodic basis for its valuable customers.
Reliance Digital has launched the contest ‘Win an iPad’. Dear iPad fans, are you ready to prove yourself better than all participating contestants and win yourself an iPad?
Anyone who wishes to own an iPad can participate in this contest. Hurry and log into your Facebook account and check Reliance Digital’s Facebook fan page. The contest has already been rolled out, and ends on 7th November. Participants need to watch a video uploaded under the ‘Win an iPad’ section, and answer the questions based on the video.
The contest will be judged on the basis of accuracy and number of questions answered. If you have missed the previous day’s question, you need not worry because the contest allows you to answer the previous day’s questions. You can watch the video as many times as you wish to. However, you are eligible to answer each question only once. So, watch the video carefully, notice the minutest details and try your luck!
You can click on the iStore tab on the Reliance Digital Website to check details about the iPad, before you enter the contest. This will help you increase your factual knowledge about the Apple iPad and be prepared to take the quiz. If you have any queries, fill the Reliance Digital Feedback form available on their website.
Hurry before the contest closes, take the quiz and better your chances of owning an iPad.

RIL Paves Way forKenneth Cole to Enter Indian Market

2011-11-03T02:13:00.001-07:00

Reliance Brands, a subsidiary of Reliance Industries Limited have signed an agreement with NYSE-listed American Fashion retailer Kenneth Cole for retail and wholesale distribution in major Indian metros. The licensing agreement includes the launch of over 20 exclusive Kenneth Cole stores in the next 5 years.

The store launches will introduce clothing, footwear and accessories for men and women. The products will be sold under the brand labels Kenneth Cole New York and Kenneth Cole Reaction. The pricing for apparel will start from Rs 1,700 and footwear from Rs 3,500. The target audience belongs to the age group of 25 to 40 years.

Mr. Darshan Mehta, President and CEO of Reliance Brands Ltd. said,” We’re very excited to join hands with Kenneth Cole Productions, a brand that not only represents an iconic all-American fashion house but also enjoys a world-wide fan following.”He added that the brand portrays chic and urban lifestyle, which completely suits the needs of Indian consumers.

The CEO of Kenneth Cole Productions Inc., Paul Blum said,” India promises substantial growth potential for our brand, the country’s economy is growing quickly and development is strong which is why Kenneth and I want to create a presence in India now. Our global expansion is directly linked to an increased demand for our product internationally, and we are excited to introduce our brand to the market with a strong partner like Reliance.”

India is emerging as the fashion capital of the world, with an increasing demand for Western styles and trends. It has a high demand for the best quality apparel, footwear and accessories. The metropolitan lifestyle yearns for fashionable products and introduction of a leading international brand like Kenneth Cole will certainly quench the needs of the fashion market.

Reliance Brands Ltd., established in 2007 plans to expand its number of stores to 75 by end of 2012. It has tie-ups with several other leading international brands, which include Paul and Shark, ErmengildoZegna and Diesel. It’s portfolio of international brands also includes licensing agreements with Timberland, Steve Madden, Quicksilver and Roxy. Reliance is paving way for seventh international fashion brand by tying up with Kenneth Cole.

Nita Ambani Celebrates Her Special Day Auspiciously

2011-11-02T23:42:00.001-07:00

1st November, 2011: Nita Ambani chose to spend her birthday at a holy location. She flew to the temple town of Nathdwara to seek the blessings of Shrinathji, along with her husband Mukesh Ambani. The principal shrine of Shrinathji is located 48 kilometers North-East of Udaipur city in Rajasthan.

Last afternoon, the couple flew to the holy shrine of Shrinathji to offer prayers and seek blessings from the deity. Nita Ambani does not believe in performing rituals, but is a highly spiritual person. She chose to celebrate her birthday in a quiet manner in the presence of almighty, rather than hosting a glamorous party at her new residence.

Nita Ambani had a wish to celebrate her special day at Badrinath, the holy town in India’s Char Dham pilgrimage. Her husband was more than happy to oblige, but the weather conditions accounted for the cancellation of the well-planned trip. They had planned to take their chartered flight till Dehradun’s Jolly Grant Airport, and then land nearer to the Badrinath shrine by switching to a chopper. Like true pilgrims, they intended to cover the last stretch of the journey by foot. However, due to bad weather conditions, they flew to Shrinathji.

Details about any special gifts have not been revealed. However, East India Hotels (EIH) has given Nita Ambani a potential gift by inducting her as a board member. Nita Ambani checking into EIH’s board has certainly given a sharp rise in her public profile. Besides managing the Dhirubhai Ambani International School and running the cricket team Mumbai Indians, she also manages the operations of the American sports major, IMG. By taking up the role of a non-executive director, Nita Ambani has entered the business limelight and marked her first corporate foray, a day before her birthday.

RIL and RCom to Tie-Up for Revolutionizing 4G in India

2011-11-02T23:16:00.001-07:00

Mukesh Ambani owned Reliance Industries Limited to tie-up with younger brother Anil Ambani’s Reliance Communication to revolutionize 4G in India. RIL is likely to use RCom’s access systems, fiber-optic backbone, international cable systems and internet gateways to provide high-speed data services. This will be the first major collaboration between the Ambani brothers since the division of Reliance conglomerate in 2005.

After the termination of the non-compete agreement between the Ambani siblings in 2010, RIL re-entered the telecom industry. It acquired licenses for nationwide broadband services for Rs 13,000 crore, the only company to do so.

For the first phase of RIL’s wireless broadband foray, it plans to lease around 26,000 towers from telecom power operators. The major source of its infrastructure will be contributed by Reliance Communications, the telecom industry setup by Anil Ambani. The partnership does not include any equity investments by RIL in Reliance ADA Group’s Telecom arm, RCom.

The RIL-RCom partnership will permit RIL to carry data traffic on RComs’ pan-India 2.8 lakh fiber optic network, the largest in the sector. Apart from using RComs’ towers, RIL intends to use the optic fiber network and transmission facilities such as national and international long distance networks to carry its data traffic. A finalized deal will enable RIL’s access to Reliance Communications’ 50,000 towers spread across 1,500 cities and towns in India.

RIL plans to offer data services at costs as low as Rs 10/GB, as opposed to competitors’ price of Rs. 100/GB. Both companies will also work towards launching tablet devices at low prices. Currently, RCom offers tablets at Rs 12,999 apiece. Spokespersons from both the companies informed that the tie-up aims at bringing down the price to Rs 6,000 apiece.

RIL has formed a core team to focus on this project. Most of the members of this team were a part of Reliance’s first telecom foray nearly a decade ago. The task of execution of this project is delegated to Jyotindra Thacker, brother-in-law of Manoj Modi.

When RIL was contacted with regards to the tie-up, an official spokesperson from RIL said,” We had issued a tender and all tower and fiber companies had given their quotes. We have not decided anything so far.”

RIL to Invest $2.33 Billion in Its Eastern Offshore KG-D6 Block

2011-11-02T04:16:00.001-07:00

Reliance Industries Limitedplansto invest upto $2.338 billion in the R-Series gas field in its eastern offshore KG-D6 block. RIL expects to produce about 15 million standard cubic meters of gas per day, from the D-34 discovery, also known as R-Series field. Reliance estimates that the R-Series field has gross in-place gas reserves of 1.64 trillion cubic feet, and can be brought into production in 4 to 5 years.

The proposal to declare the commercial worth of the field is likely to be presented before the KG-D6 block oversight committee this week. One member each from Reliance Industries Limited and its two partners, BP public limited company of UK and Niko Resources of Canada constitute the Management Committee for KG-D6, besides members from the oil regulator DGH and the Indian Petroleum Ministry.

Sources reveal that the Management Committee will only consider the Declaration of Commerciality for the D-34 field in the KG-D6 block.The reason being, DGH has raised objections on the technical data for Dhirubhai-29, 30 and 31 discoveries. It has asked Reliance to withdraw the current proposal and resubmit it later.

Reliance believes that D-29, D-30, D-31 and D-34 hold gross in-place reserves of 2.2 trillion cubic feet and estimates to produce a peak output up to 20 mmscmd. However, considering that DGH has asked D-29, 30 and 31 to be disassociated, RIL’s current proposal reckons D-34 to produce 14.68 mmscmd of gas from 11 wells, for eight years. The provision of investment details is an approximate figure and a firm development plan will be submitted after the DoC is approved.

Reliance has made 18 gas discoveries in the KG-D6 block, till now. D1 and D3 contribute the largest amount to the production, which started in April, 2009.Previously, RIL has submitted FDP for four satellite fields around D1 and D3 fields in KG-D6 block. RIL’s investment proposal of $1.529 billion to produce 10 mmscmd of gas by 2016, from D2, D6, D19 and D22 fields awaits approval from the Oil Ministry.

EIH to Nominate Nita Ambani as Board Member

2011-11-01T04:41:00.001-07:00

EIH Limited, a member of The Oberoi Group, has sent a special invite to Nita Ambani to attend its board meeting. Sources have revealed that Nita Ambani would be nominated as the board member. The role will be of a non-executive nature.

Reliance Industries Limited holds 14% stake in EIH Limited, which runs the Oberoi and Trident chains. Nita Ambani is closely associated with Mukesh Ambani owned RIL’s increased focus on services to the nation. Reliance accounts for more than 50% of India’s Gross Domestic Product (GDP).

The EIH board has 8 directors, including the chairman PRS Oberoi, his son Vikram and nephew Arjun. The inclusion of Mrs. Ambani on the board is a step towards fostering and cementing Oberoi family’s relationship with the Ambani family, according to analysts. Himani Singh, a senior analyst at Mumbai-based brokerage firm Elara Capital said,” Giving a board seat to RIL will not make much of an operational difference to the company since it enters as a strategic investor”.

Nita Ambani’s public role has increased manifold over the last couple of years. She entered the public life when she set up the Dhirubhai Ambani InternationalSchool in 2003. However, it is said that she has helped in designing the township at Jamnagar, where RIL has built the world’s largest refinery.

RIL officials say that Mrs. Ambani supervised the execution of projects involving setting up schools, parks and shopping complexes which cater to over 2,500 families. Business historian Gita Piramal added, "She has had enormous experience in creating big projects. It is coming out in the public realm now. She was involved in RIL's Jamnagar Township. She had put a lot of soul in the project. She has an eye for detail and this would help her in the hospitality business”.

Recently, Nita Ambani joined RIL’s foray into sports, as a board member of RIL’s joint venture with IMG. She manages the American Sports Major’s Indian arm and aims at building an academy to train coaches and athletes.

Nita Ambani has proved her managerial skills as the co-owner of Mumbai Indians. After a poor performance in the 1st and 2ndIPL, her team emerged as the runner-up in the 2010 IPL.The Mumbai Indians recently played victoriously and bagged the CLT20 championship 2011.

RIL’s last general meeting announced that Reliance Foundation would set up a private university. It is said that the private university will be run by Mrs. Ambani. Nita Ambani certainly plans to make more contributions to her public life.

Reliance Digital To Expand Its Network With 6 New Store Launches

2011-10-21T02:52:00.001-07:00

Reliance Digital, the consumer durables and electronics arm of Reliance Retail, a subsidiary of Reliance Industries Limited is set for another expansion.Reliance Digital is set to launch 6 new stores in various corners of India. On 22nd October, 2011, Reliance Digital will spread its established nationwide network in the following 7 cities: Bangalore, Kolkata, Hyderabad, Bhivaram, Chennai, and Mumbai, the financial capital of India.

Phoenix Market City in Bangalore, Avani Riverside Mall in Kolkata, Satyanarayana Enclave in Hyderabad, Coastal City Central Mall in Bhivaram Town, Moggapair in Chennai, and Lokhandwala in Mumbai are the locations where Reliance Digital plans to extend its wide range of electronic goods. The launch on this festive occasion will host exciting offers for its valuable customers. Reliance Digital’s brand promise ‘We bring technology to life for you’ will expand its presence through these new stores.

About Reliance Digital: Reliance Digital offers a wide variety of electronic products. Its range of electronic goods includes over 4000 products from over 150 national and international brands.It offers electronic products at affordable costs entwined with special EMI offers with zero interest rate. It has specially designed ‘Experience Zones’ to enhance your shopping experience. It enables customers to try and test high end products before paying for them. Reliance Digital has a special ResQ team, which is its technical support arm. The ResQ team is a one stop solution for all electronic problems.They offer pre-sales, installation and post-sales services 365 days a year.

RIL’s Latest Advent: 4G Revolution and Low Cost Tablets

2011-10-19T03:06:00.001-07:00

The Telecom subsidiary of Mukesh Ambani owned Reliance Industries Limited aims at spreading a4G revolution in India. By early next year, they plan to offer high speed data services on reasonably priced tablets. Mid 2012, they intend to scale it up to a countrywide network.

RIL’s major plan is to offer fourth generation enabled data cards to be plugged into computers and laptops, and provide data connectivity with high speeds of 50-100 Mbps. This will enable data connectivity much faster than what 3G offers currently, at lower prices.

RIL also plans to offer tablets at Rs.3,000 or even lower to attract more customers. This strategy of offering products at a low price to gain more customers is similar to their move in 2003, when it took mobile phones to the common masses with its ‘Monsoon Hungama’ offer. The ‘Monsoon Hungama’ offer won Reliance 1 million customers in just 10 days, as it offered handsets at Rs.501 only.

RIL has examined prototypes of tablets from over 15 Taiwanese and Chinese original equipment, and chooses to focus on 3 to 4 models. These are likely to be priced between Rs. 3000 and Rs. 8000.

In order to acquire content for its wireless broadband offerings, Reliance Industries Limited is in talks with several media and entertainment companies. Walt Disney’s Indian venture UTV software is one among these companies, and their deal with RIL is close to being finalized. RIL will be able to offer games, entertainment and applications for younger customers through this deal.

A spokesperson from the company declined to comment and said that Reliance would not comment on speculation. However, as per an update on RIL’s Telecom business, their Telecom unit is ‘in the process of setting up a world-class broadband wireless network using state-of-the-art technologies and finalizing the arrangement with leading global technology players, service providers, infrastructure providers, application developers, device manufacturers and others to help usher the 4G revolution into India’.

For RIL’s broadband gear, the company is in the final phase of talks with three vendors – Alcatel Lucent, Ericsson and China’s Huawei.We are unable to comment if they will be signing contract with a single vendor, or all three.

It is expected that RIL go in for pan-India tower deals on regional basis. They will tie up with the tower firm that has maximum reach and density in that particular zone.

Reliance is certainly working out of its way for the success of their newest venture. It hopes to regaininvestors’ confidence that has been hampered by the criticism from the Comptroller and Auditor General.

Reliance Among Bidders For El Paso’s ‘Juicy’ Shale Assets

2011-10-18T06:02:00.001-07:00

India’s Reliance Industries Limited, Norway’s Statoil ASA and Occidental Petroleum Corp. seek to expand their stakes in US shale fields. They are among the bidders for El Paso Corp.’s oil and natural gas unit. Kinder Morgan Inc. plans to sell El Paso’s exploration to pay off debt from this week’s $21.1 billion takeover of the rival pipeline company.

El Paso Corporation provides natural gas and energy products, and their core businesses are: pipelines, exploration and production. El Paso is among companies that have expanded exploration into shale fields, which were too expensive to be developed a few years ago. The significance of the sale of the exploration unit is that Kinder needs the proceeds to pay down debt that will more than quadruple with the deal.

More than half a million acres of shale fields are put up for sale, and may demand a price of $7.3 billion. Dan Morrison, senior energy specialist at Global hunter Securities LLC in Fort Worth Texas said,” Deep-pocketed bidders from outside the US are among the likely bidders.” Morrison added,” This will put out one of the juiciest acquisition targets we’ve seen on the market for a long time. The foreign buyers can certainly pay a premium because they need the operating entity in addition to the assets.”

Reliance Industries Limited formed a joint venture with Atlas Energy Inc. and bid this year to buy the company, which was eventually sold to Chevron. In order to develop natural gas fields in Pennsylvania, Norway’s Statoil has formed joint ventures with Chesapeake energy Corp. Chinese Company Cnooc Ltd. would be a likely bidder too, as it already holds stakes in Texas shale-gas assets. Apache Corp., Hess Corp. and Occidental Petroleum share interest in the bidding, as it brings additional opportunities in shale fields.

Vice-President of research at Asian Markets Securities Pvt., Kamlesh Kotak said,” Making a large energy purchase may be the best use of Mumbai-based Reliance’s cash.” When RIL was approached for comments on this deal, Manoj Warrier, spokesperson of RIL said,” As a policy, we don’t comment on speculation.”

“The total value of the acquisition, including debt assumed from Houston-based El Paso, is $37.8 billion”, Kinder Morgan said in a document. However, Kinder has declined to comment on the asking price.

Chronicle Of Reliance Industries Limited’s Half-Year Financial Performance

2011-10-18T05:06:00.001-07:00

Reliance Industries Limited has declaredits financial performance for the half year ending 30th September, 2011. The summary of the comparative study of theun-audited financial results is enlisted here.

RIL’s turnover has increased by 36.0%, exports by 52.2%, PBDIT by 9.0% and Profit before tax has increased by 19.6%. The cash profit witnessed an increase to Rs.17, 828 crore and the net profit to Rs. 11,364 crore. Employee costs were at Rs. 1,593 crore for the half year, as compared to the corresponding period previous year, which was Rs. 1,277 crore. Earnings Per Share increased from Rs.29.9 (previous year) to Rs.34.7. The net capex towards all projects stood at Rs. 6,691 crore and the cash outflow amounted to Rs. 3,533 crore.

The first well drilled in the CYPR-D6 block,located in Cauvery-Palar basin led to the discovery of rich gas and condensate. This is one of the exploration blocks where BP has acquired 30% stake. There was reduction in production of crude oil from KG-D6 block, due to reservoir complexity. However, the production of gas condensate has increased by 26.3%, compared to the previous period.

On a year-on-year basis, the Panna-Muktacontributed to a 63% increase in gas production and 39% in oil production. However, production of natural gas and condensatedeclined by 22.8% and 25.5% respectively from Tapti, due to a natural decline. RIL’s petrochemical business has the highest ever half-yearly EBIT.

Reliance Retail’s vision is ‘bettering the lives of Indians everyday’. Its newest format for the second quarter is ‘Reliance Market’, which will be a preferred sourcing destination for business and trading community. The first Reliance Market Store has been launched at Ahmedabad. Reliance Retail has marked its presence in 100 cities in India, with more than 1,100 stores in operation.

One of RIL’s subsidiaries, Infotel Broadband Services Limited, is in the process of setting up a world class Broadband Wireless Network using state-of-art technologies. They intend to finalize the arrangement with leading global technology players, service providers, infrastructure providers, device manufacturers and others, to pave way for 4G revolution in India.

Mukesh D Ambani, Chairman and Managing Director of RIL, commented on the report saying,” Our first half financial performance has been consistent. The increase in profits was largely driven by improved performance in the refining and petrochemicals business. All our manufacturing facilities operated at record levels with refineries achieving operating rates of 110%. RIL has strong balance sheet and sustained earning base to pursue growth opportunities.”

Reliance Digital to launch four new stores across the country

2011-10-14T05:39:00.001-07:00

Reliance Digital, an all-in-one multi-brand electronics retail chain from Reliance Industries Limited (RIL) is set to launch four new Reliance Digital stores in four cities of the country. The quadruple launch will take place in Phoenix Market City Mall, Bangalore; Madinaguda, Hyderabad; Bhimavaram, Andhra Pradesh; and Avani Riverside Mall, Kolkata on 15th of October 2011.

Each of these four new Reliance Digital stores will occupy between 10,000 sq.ft. to 13,000 sq.ft. of space. Borne with qualities parallel to Reliance Digital pedigree, these new stores will offer customers an added chance of indulging in a wide assortment of electronic products and brands at affordable prices. The launch festivities will see Reliance Digital host exciting offers and deals for customers to make the most of this festive season.

About Reliance Digital: Reliance Digital is the CDIT retail arm of Reliance Retail Limited offering a wide range of consumer Electronics, Appliances, IT, Telecom & Gaming products. It spans across more than 40 stores across 17 cities within the country.The chain has gathered many accolades for providing a vast array of great quality electronic products at very competitive prices. It sells a wide range of High-end LCD, LED and Plasma Televisions, Refrigerators, Washing machines, Microwave Ovens, Digital Cameras, Laptops, mobile phones to small items like IT accessories, HDMI cables and Pen drives. Reliance Digital products are backed by Reliance ResQ, a ‘one-stop’ service centre for all pre and post purchase solutions. ‘We bring technology to life for you’ is the service line for Reliance Digital indicating its commitment towards providing best solution in cutting edge technology with friendly services.

Reliance Retail: In Expansion Mode through JV with Daiso

2011-10-13T04:27:00.001-07:00

Mukesh Ambani owned Reliance Retailwill bring to India yet another foreign trade name. It plans for a joint venture with Daiso, which is the largest chain of 100-yen shops in Japan.

Daiso plans to tie-up with Reliance Retail, a subsidiary of Reliance Industries Ltd. for a shop-in-shop format in Reliance’s numerous outlets in India. Daiso has grown to be the largest chain of one-coin shops in Japan, with a humble start by a street vendor, who sold 100-yen products. It has over 3000 stores across the globe.

Mr. Hirotake Yano, President of Daiso said,” We have been in talks with Reliance for over three years now to zero-in on the joint venture.” He did not mention the timeframe for the venture to be formalized, but said that Daiso’s first shop-in-shop format in India is expected to be established in Gujarat.

Mr. Yano said that the Indian price for the products is yet to be decided. Daiso offers products in all the following categories: dining and kitchen, food, home décor, health and beauty, stationery, hardware, toys, giftsetc. The products are high quality products at a very low price. In Singapore, the decided price is $2 (Singaporean), and in Australia it is $2.80 (Australian currency), for any item.

Reliance Retail has over 1000 stores in India, retailing food and groceries, apparels, footwear, home products, IT products, electronic products, etc. Formerly, it has several joint ventures with international brands. Earlier this month, Reliance Retail was in news for its future conglomerate with Dairy Queen Inc., the global frozen food retailer.

After Reliance signs a bond with Daiso group of companies, the products procured will be imported from Japan, Korea, Indonesia and China. The variety of products from a differing range of prices will be offered at a fixed discounted rate in India.

Nita Ambani’s Team Mumbai Indians Emerge Champions of CLT20

2011-10-10T06:12:00.001-07:00

Harbhajan Singh led Mumbai Indiansconferred as 2011 Champions by their victorious win overRoyal Challengers Bangalore. Mumbai Indians defended their score of 139, by confining Royal Challengers at 108 runs.

After winning the toss, Mumbai Indian’s captain Harbhajan Singh decided to bat first. The 1st over of the match, bowled by T Dilshan was smooth and Mumbai Indians scored a triumphant ten. However, 4 overs later the scoreboard displayed 24-2, when S Kanwar was bowled out by Dirk Nannes. With 5 overs more to go, MI’s score was 109-5, and so were the hopes to surpass 150. Vettori claiming 2 wickets in the 16thover dismissed the hope though. After a full quota of 20 overs, Mumbai Indians scorewas 139.

Malinga bowled the 1st over to RCBs, whose opening batsmen T Dilshan and Chris Gayle scored 2 boundaries. At 4 overs, their score stood at 38. A remarkably good start RCBs! Nita Ambani led Mumbai Indians hopes did not perish though. After 6 overs, RCB lost its opening batsmen at 42 runs, and Mumbai Indians got the ball back in their court.

RCB’s duo ViratKohli and MayankAgarwaladded 23 runs to their score, but soon Agarwalbid bye to the pitch in the 11th over. The succeeding over added to Mumbai Indians success as Bhajjigot the wicket of Kohli. Team RCB was put under pressure by oppositions, as they needed 67 runs from 48 balls. Though they still had faith in their Captain Vettori, MI’s captain was not going to let his team down. He grabbed Vettori’s wicket in the 17th over.Abu Nechimclaimed RCB’s last wicket and won Mumbai Indian’s claim over Nokia’s CLT20 trophy.

MI won the finals against RCB by 31 runs. Quite an entertaining match, Mumbai Indians!After a triumphant glory, Mumbai Indians team members also brought home the titles Man of the Match and Man of the series. Harbhajan Singh received Man of the Match, and SL Malinga’s all-round competition earned him the title ‘Man of the series’. Team owner, Nita Ambaniwas seen celebrating her team’s victory along with the team members at MA Chidambaram Stadium, Chennai.

Mukesh Ambani led RIL to ink deal with UTV - Walt Disney, India

2011-10-10T02:12:00.001-07:00

The latest in the series of multiple deals being signed by Reliance Industries, Mukesh Ambani led conglomerate Reliance Industries Limited (RIL), is set to strike a new deal with Walt Disney – India in an effort to acquire content for its upcoming telecom operations. The deal will be sealed between Reliance Industries and UTV Software, a subsidiary of UTV in which Walt Disney holds 50.44 per cent stake.

Known to be a pioneer in India’s core industry sectors – including energy, refining, and synthetic fibers – Reliance Industries has switched gears to expand its scope and scale to commercial and wide-spaced services, such as retail, financial services and more significantly telecom and broadband services. After successfully acquiring Infotel Broadband services, the only firm to secure nationwide wireless broadband radio airwaves (in 22 circles) in an auction conducted for Broadband Wireless Access (BWA) Spectrum conducted by the DoT, RIL plans to roll out top-of-the-line telecom services in India. It plans to build a data-focused business which will provide mobile, smartphone, tablet and computer users access to the internet related services via a wireless broadband network. Through this latest deal, Mukesh Ambani led RIL stands to gain access to games, entertainment and children's content for their budding telecom operations, especially for its 4G platform. The deal with UTV, soon to be acquired fully by Walt Disney, will help RIL propel its plans of rolling out data-focused business sooner than anticipated.

Reliance, in a season of new acquisitions and deals, has laid out plans to incorporate one more partner in its endeavor to establish holistic partnerships with leading business players. After a successful innings, which saw Reliance ink deals with global majors – including London based energy giant BP PLc, followed by an equally prolific deal with hedge fund institution DE Shaw, and acquisition of assets in shale gas sector, mineral sector and others, RIL will be seen broadening the scope of its gradually developing telecom unit.

“Steve Jobs changed the game and in the process, its rules” – Mukesh Ambani

2011-10-07T03:40:00.001-07:00

Following the untimely demise of one of the most revered personalities of the world– Steven Paul Jobs, Co-founder of Apple Inc – on October 5th, 2011, the world finds itself mourning over the loss of the possibly the greatest innovators of the time. An ardent CEO, a visionary and a perfectionist, he developed the greatest products that changed the way people perceived music, movies and computer industries all together. A like mined being like Steve Jobs, India’s most venerated CEO Mukesh Ambani, chairman of India’s largest private sector company Reliance Industries Limited (RIL), expressed his condolences and a token of thought in honor of his contemporary, like many other leaders of the global corporate sector.

Sharing his thoughts on Steve Jobs legacy, Mukesh Ambani opined that the Apple founder was possibly the greatest innovators whose ideas and innovations forever changed how people across the globe think about and use technology. “I would also consider him as one of the greatest 'Reinventors'. Through his ingenuity he reinvented many businesses - fundamentally and radically. He not only changed the game but also in the process changed the rules,” expressed the RIL head.

An inspiring CEO himself, MukeshAmbani’s reverence parallels that of Steve Jobs in India and the world. Sharing a mutual love for innovation and perfection, Mukesh Ambani held Steve to be an innovator whoalways questioned how things can be done profoundly differently. “His bias towards changing the world was infectious,” believes Mukesh Ambani.

A curious innovator, a trendsetter and a modern revivalist, there are many adjectives that stand synonymous to Steve’s being. His bequest is there for the world to see and cherish for many years. Many innovators andvisionaries will take inspiration from him and his beliefs. Like Mukesh Ambani noted, “His boldness to take on the impossible has inspired many and will continue to do as the world learns to live without him.” In the end, RIL CEO considers Steve’s Jobs life ‘well-lived’.

Reliance Nominated For Energy ‘Oscars’, Platts Global Energy Awards

2011-10-05T04:57:00.001-07:00

Reliance Industries, Cairn India, Indian Oil Corp, Indraprastha Gas Ltd., GAIL India Ltd, are among the 7 Indian Energy firms to be nominated in the list of finalists, for the 13th Platts Global Energy Awards, 2011.

More than 200 nominations listed as finalists, from over 25 countries were announced by the program host Platts, a leading global provider of energy and metals. These energy firms have been nominated under various categories for the annual ‘Academy Awards’ of the energy industry. The number of finalists for the Global Energy Awards 2010, consisted an equivalent number of Indian companies.

Platts Global Energy Awards established in the year 1999, honor energy industries for their outstanding performances, leadership, corporate and individual innovation. It has expert judges which include former OPEC energy ministers, national regulators and former heads of major energy companies. There are over 19 categories, and each has a key criteria against which the judges will evaluate.

Reliance Industries Ltd. has been nominated in 2 categories. Petrochemical & Blendstock Innovation Award is a newly introduced Awards category for which Reliance is nominated, and it highlights extraordinary innovations in the petroleum related industry. The 2nd category for which Reliance has been nominated is ‘Energy Efficiency Program of the Year – Commercial End-User’.

GAIL is nominated for the Downstream Operation of the year award. Cairn’s oilfield discovery at Rajasthan has paved its way to the energy ‘Oscars’ under the category, Energy Producer of the year.

Platts announced that along with awarding companies and prominent industry leaders for their vision and innovation, operational excellence, outstanding programs and leading technologies, they will also declare the 2011 Energy Company of the year, which will be selected from the list of finalists.

The 13th Platts Global Energy Awards expects nearly 600 prominent energy industry executives, and will be held on 1st December 2011, at Cipriani Wall Street in New York.

Reliance Retail To Tie-Up With Frozen Food Fame, Dairy Queen Inc.

2011-10-04T05:13:00.001-07:00

Warren Buffett’s Berkshire Hathawayis set to enter Indian Frozen Foods market. Its frozen food retailer Dairy Queen Inc. is popular across the globe, and will expand its reach in South East Asia by tying up with Reliance Retail, a subsidiary of Reliance Industries Limited. Frozen Food conglomerate between these two companies will show a rise in Reliance Retail’s dairy operations.

Recently, top executives of Reliance visited South East Asian markets to understand Dairy Queen’s operations. The deal is yet to be signed, however,a Reliance spokesperson refused to comment as a matter of policy. Reliance Retail supplies half a million litres of milk daily to India’s domestic dairy market, under the brand name Dairy Pure.This potential deal will help the retail arm of Reliance Industries mark its presence in the quick service restaurant business and the frozen food market.

Dairy Queen, which has close to 6000 outlets worldwide serving delicacies like frozen food, soft-serves, burgers and hot-dogs, entered India as a corporate agent for Bajaj Allianz General Insurance. After screening the Indian Market for a while, they seek to clasp the opportunity in the emerging fast food restaurants businessby its joint venture with the MukeshAmbani firm.

It has been reported earlier that Reliance had signed a non-disclosure agreement with LVMH group company Sephora. Reliance Industries Limited is set to sign a bond with a global retailer, after a silence of two years. The consumption of dairy products in India has increased vigorously in the recent years. Reliance Retail does not fail to seek this as an opportunity to widen its business in the dairy market, by planning to sign a partnership with a renownedbrand like Dairy Queen.

RIL-BP JV appoints Hiten Mehta as its CEO

2011-10-03T05:41:00.001-07:00

The $7.2 billion joint venture between Mukesh Ambani led Reliance Industries Limited (RIL) and London based energy giant BP PLc has appointed a new chief operating officer for their new-fangledestablishment. Hiten Mehta, the person in charge of BP’s upstream gas project at Anchorage, Alaska has been roped in to lead the joint venture between two of the world’s leading energy based corporations as its new CEO. Hiten Mehta has already come down to Mumbai to take charge of the fast developing venture.

So far, 44 people have been selected to be a part of RIL-BP joint venture. BP’s CEO, Bob Dudley has handpicked executives from BP’s teams placed across the world, while some have been hired from Non-BP projects. The JV will also see strong memberships from Indian subcontinent, selected by Reliance Industries. Five top personnel team, headed by RIL executive director PMS Prasad and BP India’s country head SashiMukundan, are working out the master plan for the JV that is expected to ignite its function in next few months. The primary target that the JV members will look to tackle is to bring up the production from KG-D6 block, India’s most prolific gas block discovery, to 80 mmscmd mark, as lately the block as seen a steady decline in its production level. It will look to develop satellite fields in the vicinity of the block, which can help ramp up the output substantially. Thereafter, the team will chart plans to develop a gas sourcing, distribution and marketing platform in the country. The joint venture in the long run will look to target global markets for expansion of its business. For now, the focal point of all actions is directed towards India and creating value for India.

Also, both RIL and BP are brainstorming over the name for their JV. They will unveil the JV’s name shortly and it is anticipated that the name will be unique and may not have RIL-BP in it. It expected to be an exclusive brand in its self.

Reliance Retail opens Reliance Mart in Mumbai

2011-10-03T05:11:00.001-07:00

Reliance Retail recently announced the launch of its hyper market format, Reliance Mart– a multi-format store - in the city of Mumbai at the Acme Mall,Khira Nagar, S.V. Road, Santacruz (W). This is the first Reliance Mart in the city and 12th such store in the country.

Spread across 80,000 sq.ft.of space, Reliance Mart is India’s largest chain of hyper markets that stocks a range of over 20,000 products that caters to the complete needs of a family. It aims to present shoppers a unique shopping experience through an extensive variety of high quality consumer products, all available under one roof. The format offers a wide range of products including groceries, dairy items, fashion clothing and accessories, consumer electronic items, home décor items, leisure commodities, footwear, eyewear, cosmetics and fragrances, fashion jewelry, beauty and grooming products, telecom related items, gift items, entertainment products as well as a wide range of health and wellness products.

Reliance Mart offers unique services like tailoring, shoe repair, watch repair, a photo shop, gifting services and laundry services – a feature exclusive to Reliance Mart. It has a bakery that offers freshly baked breads and other products and also an ice-cream parlor. Reliance Mart has an in-house mill to grind wheat which customers can pick out themselves and also gives the option of picking up readymade batter. The Reliance ResQ customer support center provides after-sales installation and servicing for electronic appliances as well as other durables, 365 days a year. RelianceMart also offers a special membership loyalty programcalled ‘RelianceOne’, intended at presenting frequent shoppers with varied benefits. As a part of this program, customers can earn Reliance One Points on all purchases made at the store, which can later be redeemed on any future purchases. With 6 million customers already under this loyalty program, Reliance One has garnered significant recognition for offering great value and purchase benefits.

Reliance Mart tries to offer the experience of an entire market system into one store. Following the launch of first Reliance Mart format in Ahmedabad on August 15, 2007, the hyper market store has gathered much recognition for being the store that carries is it all.

Reliance Digital Store Launch In Pune on 1st Oct, 2011

2011-09-30T02:58:00.001-07:00

For a retail chain, Reliance Digital is certainly coursing on the fast lane. From its humble beginning in 2006, Reliance Digital has come a long way from begin just an electronics retail chain to, today, being India’s most popular electronics retail chain. And in an effort to fuel this distinction further, Reliance Digital gearing up to spread it wings well into the country to impress a ubiquitous presence and extend its value-proposition to a multitude more of people.Reliance Digital, is set to launch new Reliance Digital stores on 1st of Oct, 2011. The stores will be launched in Pune (Solitaire, Aundh).This store will mark the sixth Reliance Digital store in the city.

Staying true to Reliance Digital’s long standing tradition, the new stores will boast matching features as that of other Reliance Digital stores across the country. Spacious in design with the spread of over 10,000 Sq.ft of flagship Store and comprehensive in product collection, the latest Reliance Digital stores will be an extension of Reliance Digital’s quest for providing value-based electronic products at best prices throughout the country

About Reliance Digital: Reliance Digital is value-based consumer electronics and durables retail chain from the house of Reliance. Spread over 10,000 sq.mt of space, Reliance Digital stores carry over 4000 products of 150 brands from world over. Carrying a wide assortment of products from high-end LED and LCD TVs, microwave ovens, refrigerators, washing machines, mobile phones, laptops, gaming consoles and software, home appliances, mp3 players to even the smallest of IT based devices, Reliance Digital is a one-stop shop for all things electronic. Reliance Digital stores offer its customers the value proposition of having the lowest prices and best quality products. Offering great value for money on every purchase, Reliance Digital stands as an ideal store for every customer looking for a great deal on electronics

RIL and BP chalk out plans to increase KG-D6 output by 2014

2011-09-29T07:23:00.001-07:00

Mukesh Ambani led Reliance Industries Limited (RIL), with technical assistance from BP Plc, is looking to reverse the slump in the output of KG-D6 gas field and boost production within the next three years. Mukesh Ambani met with BP’s CEO Bob Dudley on his two day visit to India, and discussed the likely procedures the venture partners could follow to increase KG-D6’s output.

Mukesh Ambani and Bob Dudley met with commerce minister Anand Sharma and petroleum minister S. Jaipal Reddy and oil secretary G.C. Chaturvedi and advocated for an early government nod to develop satellite fields in the KG-D6 block that would help reverse the spate of falling natural gas output from the prolific oil and gas acreage. Together with 7.4 mmscmd from the MA oilfield in the same block, the total gas production from KG-D6 at present is 43.9 mmscmd, as against being 80mmscmd.

Tests by Reliance have shown that gas-bearing layers of sand in the two main producing areas of KG-D6 block are thinner than initially estimated and extraction may require costlier drilling techniques. Satellite fields in the KG-D6 block and discoveries, also known as the ‘R-Series’, together are estimated to have the potential to produce as much as 35 million cubic meters a day of gas. Reliance has already submitted its plan to invest approximately $1.5 billion in developing four satellite fields around D1 and D3 to produce up to 10 mmscmd of gas by 2016. Now, both BP and RIL are working with the government to get additional satellite and the R series reservoirs sanctioned at the earliest so as to begin the process of engineering and, by 2014, get the production of gas rising from KG-D6. The partners hope to get this approval within the year.

Bob Dudley has expressed that KG-D6 fields have the necessary resources to bring about the production level to anticipated 80 mmscmd. Calling D-6 a ‘golden’ block, Dudley opined that the block certainly faces many complexities, which, as a result, call for high technology and high risks. Citing KG-D6’s satellite fields to be economic, Dudley assured that BP and RIL will work towards making the fields economic.

Moody’s: ‘Impact on RIL’s overall financial health because of lowered gas output to be modest’

2011-09-29T06:53:00.001-07:00

Moody’s Investor Service, a rating agency, ascertained that the decrease in gas output in KG-D6 field, owned and run by Mukesh Ambani led Reliance Industries Limited (RIL), is likely to have only a modest impact on RIL’s overall financial health. The decrease in gas output could push back company’s cash flow by a small margin, but given that RIL and BP have joined forces to combat the slump in gas output; it is likely the situation will turn around sooner than anticipated.

Following the completion of RIL-BP deal, RIL now stands to employ BP’s advanced petro-technical skills, the reservoir skills and the exploration skills to its advantage and get the production from its field up and running to meet the projected output mark, suggested Moody's Vice President and Senior Analyst Vikas Halan.

KG-D6 is faced with decline in its output due to unanticipated reservoir complexities. Its output declined gradually to less than 45 mmscmd instead of rising to 80 mmscmd as anticipated in the field’s initial assessment. However, satellite fields in the KG-D6 block and discoveries, also known as the ‘R-Series’, together are estimated to have the potential to produce as much as 35 million cubic meters a day of gas. RIL is now looking to develop these satellite fields in D1 and D3 blocks, and has submitted a proposal to the government for the same. BP’s CEO Robert Dudley, on his two day visit to India, assured that BP and RIL are working with the government to get additional satellites and the R series reservoirs approved at the earliest so as to begin the process of engineering and, by 2014, get the production of gas rising from KG-D6.

With respect to RIL's Baa2 local currency issuer rating, Moody’s found RIL's ‘long-term story’ to be compelling. Vikas Halan stated, “Its local and foreign currency ratings were last upgraded in February 2006 and have since remained at Baa2. During this period, the company doubled its refining capacity and started production of gas at its KG-D6 block. Moreover its credit metrics have come to a healthy level.”

BP likely to divest some of its assets to Reliance Industries

2011-09-29T06:17:00.001-07:00

London based energy major BP Plc is likely to engage in a discussion with its Indian business partner, Mukesh Ambani led Reliance Industries Limited (RIL), as it looks to divest some of its assets in Europe and North America to Reliance Industries in an effort to deepen its partnership with India's largest private sector company. BP’s CEO Bob Dudley, on his two day visit to India, stated that BP is looking to manage its portfolio with more divestments and for this, the company plans to include RIL in some divestments in the gas value chain. From developing gas to potentially importing LNG, Bob Dudley suggested many likely processes which can work out outside India for RIL to help bring energy into India.

Earlier in February, BP entered into a deal with RIL, taking a 30 per cent stake in 23 oil and gas production sharing contracts (PSC) that RIL operates in India, including the much acclaimed KG - D6 block off the east coast of Andhra Pradesh, and the formation of a 50:50 joint venture between the two companies for the sourcing and marketing of gas in India. The $7.2 billion deal was completed last month and presently, RIL and BP are chalking out plans to uplift production volumes from RIL’s KG-D6 block.

Bob Dudley expressed that the alliance with Reliance is likely to render fruitful results and there is a great future working in close association with the Indian energy giant. He noted that if the gas prices are allowed to rise to make deep-sea projects viable, India stands to harness many opportunities and growth in the E&P sector.

On KG-D6 block, Dudley said that Reliance had done a ‘fantastic’ job at the D-6 block, and BP would enhance it with its deep-sea exploration expertise. BP, he noted, would also help accelerate and re-prioritise exploration for Reliance to a large extent. Increasing output from Reliance's ‘golden’ D-6 block, would be the top priority, alongside increasing output from satellite fields and other blocks off the Orissa coast, Dudley said.

BP cites ‘bright future’ with Reliance Industries; looks to develop gas markets in India

2011-09-29T05:30:00.001-07:00

CEO of London based energy major British Petroleum (BP Plc), Bob Dudley has expressed optimistic views on the much acclaimed alliance between BP and Mukesh Ambani-led Reliance Industries Limited (RIL). The CEO of world’s leading ‘petro-technical’ company noted that the alliance with Reliance is likely to render fruitful results and there is a great future working in close association with the Indian energy giant.

Bob Dudley, on his two day visit to India, noted that being able to combine the strengths of RIL in project development and management with BP’s petro-technical skills, the reservoir skills and the exploration skills, will ascertain beneficiary results for both partners and leverage the alliance’s plans to develop gas markets in India.

The partnership between RIL and BP will see BP taking a 30 per cent stake in 23 oil and gas production sharing contracts (PSC) that RIL operates in India, including the much acclaimed KG - D6 block off the east coast of Andhra Pradesh, and the formation of a 50:50 joint venture between the two companies for the sourcing and marketing of gas in India. The JV will also look to amp up the process of formation of infrastructure for receiving, transporting and marketing of natural gas in India. Lately, KG-D6 has seen its output decline gradually to less than 45 mmscmd instead of rising to 80 mmscmd as anticipated in the field’s assessment. There are a few technical issues, which RIL is currently sorting with the assistance of its partner BP Plc. Dudley assured that BP and RIL are working with the government to get additional satellites and the R series reservoirs approved. He is hopeful that the JV will get these approvals within the year so as to begin the process of engineering and, by 2014, get the production of gas rising from KG-D6.

Stating that “free market system is what any economy needs to be able to ensure efficient development of its resources”, Dudley noted that deep sea exploration is a capital intensive, high risk process that needs to be developed in order to reap maximum rewards from the risks.

Mukesh Ambani cites tremendous industrial potential in Gujarat

2011-09-29T02:13:00.001-07:00

Speaking at the annual convocation ceremony of Pandit Deendayal Petroleum University (PDPU), president and chairman of board of governors (PDPU) Mukesh Ambani, also the chairman of India’s largest petrochemical company, Reliance Industries Limited (RIL), positively noted that the state of Gujarat has tremendous potential as far as industrial development is concerned. Citing that Gujarat is already the refining capital of the world, Mukesh Ambani expressed optimism on the likelihood that Gujarat will soon become the automotive hub of the Asia. “If an arid land in Jamnagar can be converted into refining capital of the world, then Gujarat can also become Asia's automotive hub,” said Ambani in his inaugural speech.

The convocation ceremony of India’s well know Petroleum University saw around 409 students from undergraduate and postgraduate programmes of PDPU's constituent schools - School of Petroleum Technology, School of Petroleum Management and School of Nuclear Energy – being conferred with degrees. Thirteen students were awarded medals for scholastic performance. Mukesh Ambani attended the felicitation ceremony and shared his opinions with the students on the nature and future of petroleum sector of India and the scope of development of the same in Gujarat.

Mukesh Ambani, along with Chief Minister of Gujarat and chief guest of the ceremony, Narendra Modi, agreed to the fact that the need of the hour is to use technology to resolve energy crisis. Stating that energy was the future of the world, Mukesh Ambani said, “Globally, we need 17 billion tones of oil equivalent by 2030. And to fulfill this demand, India and China need to increase energy production by six times by 2030”. He also added that in the next 20 years, energy consumption will be much higher and to match up to the rising demand, inspired innovation in the field is called for. Mukesh Ambani stated that PDPU students need to undertake a lot of research on solar and bio-fuels, as renewable energy is the future of the world and to stay ahead of the competition, “We need to do research on energy and PDPU should play a leading role in the same,” said the chairman of RIL.

Robert Dudley’s to Visit India, to Meet RIL Executives

2011-09-28T21:53:00.001-07:00

Robert Dudley, BP’s Group Chief Executive is on his 2nd visit to India, to meet Government Ministers and RIL Executives. He marked his first visit for BP’s historic partnership with Reliance Industries Ltd. and his 2nd visit will certainly be for a more significant reason.

BP is into finding, extracting and moving oil and gas, operating across 6 continents and over 100 countries. RIL-BP partnership includes BP taking 30% stake in 23 oil and gas production sharing contracts that Reliance operates in India, which also includes the producing KG-D6 gas block. The British Oil Major has invested $7.2 billion, which is the largest foreign direct investment in the oil and gas sector.

The Petroleum Ministry was unable to seek investors in India’s Hydrocarbon basins, but BP’s venture into the field certainly symbolizes its faith in the Indian Market. Reliance Industries is facing challenges with its Krishna Godavari basin due to falling gas output, and Robert Dudley, who considers it as the ‘Golden Block’ has chosen this time to visit again.

“D6 is a world class resource, but also a complex reservoir that needs high technology and risk taking”, said Robert Dudley in his interview. BP is known to take risks, as it signed its deal with Reliance after the Gulf of Mexico Spill. Robert Dudley’s statement “BP’s great sub-surface exploration can help Reliance get back the sagging output” has certainly restored the faith of many towards RIL.

RIL and BP are jointly working towards restoring the production from the reservoir to its earlier levels. They are studying the field further and simultaneously RIL has submitted a plan for government approval, for the development of four satellite fields, which will help increasing the production from D1 and D3.

Robert Dudley’s first sojourn to the country marked BP’s exploration of India’s Oil Sectors and was a symbol of his faith and confidence in the Indian Market. His 2nd visit is certainly a relief to many investors, as he helps retaining and restoring this faith.

Reliance Industries to Optimize KG-D6 Block to Increase Output

2011-09-28T04:05:00.001-07:00

Mukesh Ambani led Reliance Industries Limited (RIL) is gearing up to augment the output volume from its most prolific oil and gas field in the Krishna – Godavari (basin (KG-D6) by 30-35 million metric standard cubic metres a day (mmscmd) by pumping natural gas from its latest discoveries in the deep-sea region and by developing common infrastructure across the block to optimize operational costs.

In this endeavor, Reliance Industries is being supported by the government and the technical arm of oil ministry – The Directorate General of Hydrocarbons (DGH). DGH recently appointed an independent consultant to suggest ways to optimize output from one of India’s largest oil and gas field located off the east coast of Andhra Pradesh.

The Krishna - Godavari basin block KG-DWN-98/3 (D6) has 19 oil and gas finds. Of these, Dhirubhai -1, Dhirubhai- 3 fields and an oil field MA are currently the largest and completely functional. While KG-D6 is producing about 45.4 mmscmd of gas per day, MA oilfield produces a little less than 15,000 barrels per day of oil and about 7.6 million standard cubic meters per day of natural gas from its five wells. KG-D6 has seen its output decline gradually to less than 45 mmscmd instead of rising to 80 mmscmd as anticipated in the field’s assessment. There are a few technical issues, which RIL is currently sorting with the assistance of its partner BP Plc., a London based energy major with expertise in deep sea exploration projects.

Given RIL owned KG-D6’s potential and valuation, government has agreed to support Reliance to bring about KG-D6’s volume to mitigate the burden on industries dependent on KG-D6’s output.Government has already sanctioned capital expenditure of $8.8 billion for the fields already under production. Of this $5.6 billion has already been utilized for the process of amplification and the remaining capex will be used to develop new areas in the block to raise production. Simultaneously, RIL is working on integrated development of the entire block to reduce the cost of developing related infrastructure for gas production and improve the field’s overall functionality.

Oil Ministry yet to sanction development plans for RIL’s 9 satellite discoveries

2011-09-28T03:12:00.001-07:00

At a time when energy security and prolific resource development is of top priority to the government, Oil ministry has deferred sanctioning Reliance Industries Limited ‘s (RIL’s) nine satellite gas fields which the operator discovered in 2007. Directorate General of Hydrocarbons (DGH), the technical arm of oil ministry, noted that oil ministry officials on the panel that oversees operations in KG-D6 field have not yet approved the gas finds made by RIL, even though it has been years since they were discovered.

As per industry norms, after a gas discovery is made, its potential is assessed to ascertain if the field can be developed commercially. A Declaration of Commerciality (DoC) is sought and once the DoC is approved by the Management Committee (MC) - a body which oversees operations in the block - an investment plan is drafted to state the development plans for producing gas from the noted field. In RIL’s case, the oil Ministry is yet to grant a DoC, without which the energy operator cannot begin work on the field development plans.

Reliance Industries has, so far, made 18 gas finds in KG-DWN-98/3 block, more commonly referred to as KG-D6 block, which lies off the east coast of Andhra Pradesh. Of these, two fields - Dhirubhai-1 and Dhirubhai-3 (D1 and D3) have been put under production while nine others (D-2, D-4, D-6, D-7, D-8, D-16, D-19, D-22 and D-23) have been declared as commercially viable by DGH. However, the Oil Ministry sanctioned the DoC of only D-2 field from among the nine fields, which was discovered in April 2002.

DoC for the remaining eight fields has been awaited since November 2007. DGH, in support of RIL stated that the Declaration of Commerciality (DoC) of eight satellite gas discoveries (D-4, D-6, D-7, D-8, D-16, D-19, D-22 and D-23) was reviewed in the MC meeting on November 22, 2007. An MC resolution, which declares the eight finds as viable for commercial production of gas, has been signed by MC nominees of the joint venture (RIL) and its minority partner (Niko Resources of Canada) and the first government nominee (DGH). Only Ministry of Petroleum and Natural Gas' consent is still awaited on MC resolution. Presently, DGH has forwarded a letter to the ministry for approval of RIL’s fields and sanctioning their development plans at the earliest.

Reliance Digital Pune store launch postponed to 1st October

2011-09-27T05:50:00.001-07:00

Reliance Digital, a multi-brand electronics chain from the house of Reliance, has postponed the launch of its latest Reliance Digital store in Pune. The store, slated to be launched on Wednesday, 28th September 2011 has been rescheduled for launch on Saturday, 1st October 2011. The launch will take place at Solitaire on ITI Road in Aundh, Pune. This store will mark the sixth Reliance Digital store in the city.

About Reliance Digital:Reliance Digital is the CDIT retail arm of Reliance Retail Limited offering a wide range of consumer Electronics, Appliances, IT, Telecom & Gaming products. It spans across more than 31 stores across 17 cities within the country with an average store space of around 10,000 sq. ft. It sells a wide range of High-end LCD, LED and Plasma Televisions, Refrigerators, Washing machines, Microwave Ovens, Digital Cameras, Laptops, mobile phones to small items like IT accessories, HDMI cables and Pen drives. Reliance Digital products are backed by Reliance ResQ, a ‘one-stop’ service centre for all pre and post purchase solutions. ‘We bring technology to life for you’ is the service line for Reliance Digital, indicating its commitment towards providing best solution in cutting edge technology with friendly services

Four new stores to be launched by Reliance Digital

2011-09-26T06:26:00.001-07:00

Reliance Digital, a multi-brand electronics retail chain from the house of Reliance Industries Limited (RIL), is set to launch four new Reliance Digital stores on 28th of September 2011. The stores will be launched in the cities of Jaipur (Man Upasana, Sardar Patel Marg), Mysore (Mall of Mysore, M G Road), Hyderabad (Kachiguda) and Pune (Solitaire, Aundh).

Staying true to Reliance Digital’s long standing tradition, these new stores will boast matchingfeatures as that of other Reliance Digital stores across the country. Spacious in design and comprehensive in product collection, the latest Reliance Digital stores will be an extension of Reliance Digital’s quest for providing value-based electronic products at best prices throughout the country.

As a part of quadruple launch festivities, Reliance Digital has put in place an exclusive offer wherein customers stand a chance to win free Rs. 1000 e-vouchers on all purchases of Rs. 10,000 and above. This scheme can be availed at the new Reliance Digital stores between 28th September and 29th September.

Reliance TimeOut’sWorkshopHeralds ‘The Happiness Quotient’

2011-09-26T05:21:00.001-07:00

On the eve of September 23rd, Reliance TimeOut, a one-stop shop for books, music and stationery, had a special guest, Dr. Rekha Shetty, at its Mangalore outlet. She conducted a unique workshop ‘Happiness Evening’, where she gave insights into her book ‘The Happiness Quotient’, which was launched on this occasion. The workshop was followed by an interaction with the audience.

Dr. Rekha Shetty, Managing Director of Farstar Distribution Network and Founder of Mindspower, consults with major corporates about innovation initiatives. She is popularly known as the “Corporate Doctor’, and helps individuals in developing a competitive edge. ‘The Happiness Quotient’, written by her, briefs the reader about striking a balance between excelling in your life, and yet being happy. It calculates the amount of happiness an individual has ever achieved in their lives, and also provides information on how to increase one’s happiness quotient. It starts with the value of creating an optimistic approach,which is a root to positive emotions and happiness.

The occasion of the launch was also honored by the presence of N VinayHegde, vice-chancellor of Nitte Deemed University and DipakMarwah, VP and business head of Reliance TimeOut. N VinayHegde, while addressing the audience said,”Whatever the external circumstances may be, the individual is responsible for his inner state.Emotional well being is an inside job”. This is certainly true, and the only factor responsible for happiness, is the person’s approach towards life and the various circumstances one may find oneself in.

Dipak Marwah thanked Dr. Rekha Shetty for an inspirational discussion of happiness mantras. He concluded the workshop by the following words,” At Reliance TimeOut, it is our constant endeavor to organize exciting and engaging book readings and launches at the store and this is another such event in that direction."

The workshop gave motivational tips about living a happy and contented life. It emphasized on the fact that the fruitfulness of life lies in the attitude of being at peace with the prevailing situation. One needs to adapt an optimistic approach towards every bitter trial in life, and should treat it as a blessing in disguise in order to lead a happy life. Reliance TimeOut always goes a step ahead in encouraging individuals to read avidly.

Reliance Industries Looking to Acquire Canadian Shale Gas Assets

2011-09-26T04:44:00.001-07:00

Mukesh Ambani led Reliance Industries Limited (RIL) is eyeing shale gas assets in the resource-rich regions of Canada, after having successfully acquired and developed similar shale gas assets in Pennsylvania and Texas in the U.S. last year. Encana Corp. (Canada’s biggest natural-gas producer) and Cenovus Energy Inc (Canada’s fifth-largest energy company) are two Canadian companies looking for partners to successfully develop their oil and gas resources. Both these companies, at present, are in talks with leading Asian and European energy companies to put together a mutually beneficial partnership for developing Canada’s rich shale gas reserves. RIL, one of the top prospects, is presently studying Canadian shale gas assets and evaluating the possibility of likely partnership with its energy firms.

Reliance Industries has inked joint ventures with US based Chevron (RIL- Chevron), Carrizo (RIL- Carrizo) and Pioneer (RIL-Pioneer). Acquisition of shale gas assets has been a significant venture for RIL this fiscal year, and in hopes of transforming itself into a global oil and gas developing enterprise in the coming years, Reliance is on the lookout for additional global opportunities and for extending a hand of partnership to leading oil and gas developing firms of the world. By adding reserves of natural gas trapped in overseas shale gas assets, Reliance will be able to add to its domestic fuel output substantially.

After having encountered the highest ever financial performance results for the quarter ending June 30th, earnings from RIL’s refining business helped the conglomerate assume a 16.7% rise in net profits and $16 billion in cash reserves. RIL is expected to invest a part of this cash reserves into developing additional clean energy ventures. Also, Reliance has been India’s most acquisitive company in terms of number of deals last year, and the company is expected to expand further by engaging in additional M&A opportunities. RIL has roped in NavinWadhwani from Rothschild to head the M&A division of the group and the company also plans to bring in Tony Fountain, ex-CEO of the U.K. Nuclear Decommissioning Authority to head its refining and marketing division.

Rima Sen Visits New iStore by Reliance Digital in Kolkata

2011-09-23T05:09:00.001-07:00

iStore by Reliance Digital is set to launch its first store in the city of Kolkata in Park Streetover the weekend.This is the first official iStore in the city and 17th store in counting across the country.

Bollywood actress and model Rima Sen is expected to visit the newiStore outlet at Park Street on Saturday, 24th of September at 5 p.m. iStore by Reliance Digital will play host to the actress as a part of an interactive event.

About iStore by Reliance Digital: iStoreby Reliance Digital is a result of an exclusive marketing and distribution deal between two major companies – Apple Inc. and Reliance Retail. As a part of this agreement, Reliance Retail is the premium Apple reseller in India, and will be responsible to setting up exclusive Apple stores across the country. Presently, iStore by Reliance Digital is India's largest chain of Apple reseller stores. It houses a complete range of Apple products for both professionals and consumer segments.The store showcases an entire array of Apple products, including Mac Books, iPods, iPads and iPhones, along with over 500 accessories and peripherals for every product category. Each iStore has an Apple expert for the convenience of customers. Being the Premium Reseller for Apple products, iStore by Reliance Digital is first to carry any new product from Apple. At present there are 16 iStore outlets in the countryacross 10 cities including Ahmedabad, Bangalore, Chennai, New Delhi, Pune, Mumbai, Ludhiana, Vadodara, Jaipur and Hyderabad.

Reliance Retail to Roll out Multiple Cash-And-Carry Formats across the Country

2011-09-23T03:32:00.001-07:00

Reliance Retail, a subsidiary of Mukesh Ambani run Reliance Industries Limited (RIL), plans to roll out multiple cash-and-carry format stores for wholesale business across the country, after getting an encouraging response from the first such store launched in the city of Ahmedabad. With this initiative, Reliance Retail hopes to offer numerous national and international brands to small traders across the country and, at the same time, propel the growth of its consumer-focused business in the coming years.

Eyeing multilateral growth in its retail processes, Reliance Retail has put in place a new management team to steer the course of next phase of growth for the retail subsidiary. It has roped in top executives from Wal-Mart China, Rob Cissell and Shawn Gray to take over as chief executive officer (CEO) and chief operating officer (COO) of the Reliance Retail business respectively. Their principle role will be to turn around the retail business of Mukesh Ambani led subsidiary and make it profitable within the next two years. Major focus will be put on FMCG, consumer electronics and durables business and more significantly on the cash-and-carry segment. The cash-and-carry segment in India is a relatively small fraction of modern trade and there is a huge opportunity for the cash-and-carry model to grow in the Indian organized retail sector.

Reliance Retail has been the aggressively pursuing major changes in its business structure. Mukesh Ambani, addressing his shareholders at the 37th AGM 2011, stated that the next phase of growth for RIL will be derived from its subsidiary businesses, especially retail, telecom and financial services. Asserting that Reliance Retail has already become the largest food retailer in India, Mukesh Ambani noted that all the specialty formats of Reliance Retail will attain top positions in their respective segments in next two years.

Reliance Retail is expecting to see its same-store sales increase by almost 20 per cent in the FY 2011. This anticipation is riding on the back of steady consumer spending over the last year; negating any adverse affects that can be rendered as result of present economic conditions.

Reliance Industries and Siemens Join Forces to Develop Electronic Security Solutions

2011-09-22T06:02:00.001-07:00

Mukesh Ambani run Reliance Industries Limited (RIL) – a refinery to retail mega industrial conglomerate- has entered into a joint agreement with Siemens AG – a Germany based engineering conglomerate - to develop intelligent electronic security solutions in mutual cooperation. As per the official statement released by RIL, the company stated that RIL’s subsidiary ‘Reliance Security Solutions’ and Siemens have signed a memorandum of understanding (MoU) to develop astute security solutions for safe, secure and smarter cities and highways in India.

India’s safety and security market is currently valued at around US$ 500 million and expected to grow by more than 30 per cent in the coming years. The video security equipments segment (including CCTV) has already seen an upsurge of 55 per cent in the last few years and this is expected to continue over the coming years as well.

Presently, in the light of increase in acts of domestic insurgency and terror attacks, and due to the lack of modern safety equipments, there is a growing need for better security solutions in the country. “The role of surveillance and security has assumed greater importance, considering the fact that insurgency and terrorism have become a global phenomenon. There is an emerging need to move over to intelligent electronic security solutions,” stated the RIL statement. With rapidly escalating security needs across various segments such as retail, banking and finance, aviation, and transportation, apart from general public security measures, majors companies of the world are stepping up to take the onus on their shoulders to develop and distribute superior security solutions using modern technology.With prolific development of modern and advanced technical security solutions, India’s security and surveillance market will be able to find a place alongside many leading nations of the world including Britain, Germany and France.

The joint venture between RIL and Siemens is expected to deliver precisely this. Given the technical dexterity and scale of both these organizations, it can be expected that the venture will render itself beneficial to the cause of improving security solutions in the country.

Reliance Retail eyes 20 per cent growth in sales volume in FY 2011

2011-09-22T04:53:00.001-07:00

Reliance Retail, a subsidiary of Mukesh Ambani led Reliance Industries Limited (RIL) is expecting to see its same-store sales increase by a whopping 20 per cent in the FY 2011. This anticipation is riding on the back of steady consumer spending over the last year; negating any adverse affects that can be rendered as result of present economic conditions. Bijou Kurien, President and Chief Executive Officer (CEO) of Reliance Retails’ lifestyle segment noted at an industry conference that the company is eyeing tremendous growth based on the steady graph its value retail format and electronic format are charting.

While soaring interest rates and inflation markup have added to the concerns of organized retail players, the sector is optimistic that the industry will sail through buoyantly, given it continues to grow in double digit counts. Also, as government has allowed for foreign direct investment (FDI) in multi-brand retail, domestic players are looking to partner up with top global retailers to diversify and expand their market.

Reliance Retail, too, has chalked out plans to improve its retail arm through global partnerships and by overhauling the process altogether. As RIL looks to diversify beyond its core energy business, it has sought to bank upon its retail arm to push the next stage of the company’s growth. For this, Reliance Retail has roped in top executives from Wal-Mart China, Rob Cissel and Shawn Gray. While Rob Cissel will serve as the new CEO of Reliance Retail, Shaw Gray will take the role of a COO for the business format. The new management team will function with a primary target of making the business more profitable within the next two years. The newly instated management is expected to gradually improve upon and make lucrative the big format of Reliance Retail.

Reliance Retail currently operates around 1,000 stores under 46 subsidiaries across 86 cities in the country. Around 650 such stores are run under the value format of Reliance Fresh, while others are categorized under specialty formats, including apparel, footwear, gems, electronics, and jewellery.

Reliance Digital stores in Bangalore to welcome cast of ‘Force’

2011-09-22T04:04:00.001-07:00

Reliance Digital, a multi-brand electronics retail chain from house of Reliance, will play host to the cast of upcoming Bollywood thriller ‘Force’,includingits lead actors John Abraham and Genelia D’Souza. The actors will make an appearance at the Reliance Digital store in Kormangala, Bangalore on Friday, 23rd September. Promoting their upcoming film, both the actors will be seen interacting with the audience and members from the media fraternity at the press release organized at respective Reliance Digital stores in the city.

Over the last few months, Reliance Digital has played host to various film promotional activities. Given the store’s spacious landscape and popularity, Reliance Digital serves as an ideal destination for audience interaction and promotional activities for films slated for release.

About Reliance Digital: Reliance Digital is a value-driven electronics retail chain from the house of Reliance Industries Limited (RIL), offering a multitude of electronic products and brands to choose from. Spread over 10,000 sq.mt of space, Reliance Digital stores are well furnished, spacious, and carry over 4000 products of 150 brands from world over. Carrying a wide assortment of products from high-end LED and LCD TVs, microwave ovens, refrigerators, washing machines, mobile phones, laptops, gaming consoles and software, home appliances, mp3 players to even the smallest of IT based devices, Reliance Digital is a one-stop shop for all things electronic. Reliance Digital stores offer its customers the value proposition of having the lowest prices and best quality products. Offering great value for money on every purchase, Reliance Digital stands as an ideal store for every customer looking for a great deal on electronics.

John Abraham and Genelia D’Souza to visit Reliance Digital in Ahmedabad

2011-09-21T22:40:00.001-07:00

Bollywood heartthrobs John Abraham and Genelia D’Souza are scheduled to visit Reliance Digital consumer electronics retail store at Iscon Mall in Ahmedabad on 22nd September. These actors are pairing up on screen for the first time.

The actors are visiting the store as a part of promotion of their latest forthcoming release FORCE. Fans can hope to see their favorite stars in action as both John and Genelia will interact with the crowd and media during their visit to the store.

Store Address:

Iscon Mega Mall, Near Rajpath Club,
Sarkhej Gandhi Nagar Highway,
Ahmedabad - 380054

About Reliance Digital: Reliance Digital, the value oriented consumer electronics chain, is one of the most popular destinations for purchase of electronics items. Carrying over 4000 different products of 150 brands – both domestic and international - Reliance Digital is a state of the art, one stop destination for all consumer electronic items, ranging from home appliances, gaming and communication devices to entertainment utilities. From audio and video products (Television sets, DVD players, Car Audio players), Electronic Musical Instruments, Digital Cameras, Gaming consoles and software, Computers and related accessories, Mobile and Fixed line devices to Air Conditioners and Kitchen and Home Appliances, Reliance Digital carries it all. Value for money and friendly services are standalones for this electronics monolith, which is now making its presence felt across every major Indian city.

UK Nuclear Agency chief quits, to join Reliance Industries

2011-09-21T05:12:00.001-07:00

Tony Fountain, chief executive of the UK Nuclear Decommissioning Authority resigned from his post, and has plans to join India’s largest private sector conglomerate, Reliance Industries. This sudden development has shocked many in the nuclear establishment, especially with the nuclear industry at a critical phase with complex issues like the decommissioning of nuclear plants on the table.

Tony has been instrumental in reshaping the NDA & making it more delivery-focused. He is credited with the progress that the organization has made in the last few years & remains one of the prime authorities on energy related issues. His decision to leave such an important position and go for the Indian private sector brings into focus the growth potential of the energy scene in India. Reliance Industries, being the market leader in the production of oil & natural gas in India, foresees immense opportunities in the energy sector in India. RIL has not categorically made a statement about the appointment but we expect a release from them soon. The Mukesh-Ambani led company is the most valued company on Indian Stock Market shares and continues to maintain its juggernaut in the bourses.

Tony Fountain obviously envisages a lot of growth potential in the Indian nuclear power market, and his arrival sounds exciting, as new projects could soon find their way to the boardroom. Though Reliance does not have a formal presence in the nuclear industry in India, there had been talk of it investing in nuclear energy in June 2010. The company was believed to be in talks with US-based engineering, construction and project management firm Bechtel Corporation for a possible collaboration. With Tony coming on board, these blueprints may finally be put in place, keeping in mind the fact that the government has announced plans to allow private participation in nuclear energy. Reliance, already the leader in terms of market-cap on the Bombay Stock Exchange, will soon be able to consolidate its presence further as and when the government lifts the “public-only” policy in nuclear power plants operation.

RIL Partners With Siemens to develop Homeland Security Solutions

2011-09-20T07:15:00.001-07:00

Reliance Security Solutions Limited, a subsidiary of Reliance Industries Ltd., (RIL) has signed a Memorandum of Understanding with Siemens Ltd., to jointly develop Homeland Security Solutions, for safe, secure and smart cities and highways in India. This initiative will get India at par with developed nations, which use 4G wireless technology for security installations in their territories.

With the advent of technology and rise in level of terrorist attacks, the traditional methods of surveillance and security are inadequate, and hence the rising need to adapt advanced technology. RIL plans to offer 4G technologies for safety and security, which will help in increasing the amount of data and information that can be sent at a time. Siemens offers the world’s most advanced security solutions, Siveillance, which caters to the needs of all the security demands. This combined venture of RIL and Siemens will use 4G network, which assures low latency and quality of service for video and security applications.

Reliance operates the world’s largest integrated security automation system, consisting of over 12,000 cameras, advanced security sensors, radars, etc, and has been using advanced command and control centres for security of its own infrastructure. Siemens Siveillance provides reliable security solutions, with features like automated threat detection, which helps protect cities, highways, iconic buildings and public areas.

Siemens is an icon of expertise in the field of Intelligent Security Solutions. With this tie up with Reliance Industries for Homeland Security in India, one can expect India’s security market to be one of the largest growing, in the world.

Govt. Indecisiveness delays RIL & GAIL projects” ,says Regulatory Board

2011-09-20T06:53:00.001-07:00

At a time when energy security concerns are at their absolute peak, a show of indecision on account of the government can possibly affect the way Petroleum and Natural Gas operators function and run a sustainable business. Case in point, the government had authorized setting up of two pipelines, one by Reliance Industries Limited (RIL), which will stretch from Kakinada to Haldia and the other by GAIL, slated to extend from Jagadishpur (in Howrah district) to Haldia, West Bengal earlier in 20009. These pipelines were to be put in place within 36 months from the issue of RoU (right of use) notification. What government failed to do was allocate appropriate gas acreage to both RIL and GAIL. Without knowing how much gas acreage they are to work with, RIL and GAIL are unable commence on their respective projects. This concern was shared by the chairman of the Petroleum and Natural Gas Regulatory Board, L Mansingh, who, in agreement, opined that if the ministry is not telling how much they will allocate, how can operators put up a pipeline which can cost anywhere between Rs. 1 lakh to Rs. 12 crore?

What remains to be done now is that both these operators will have to apply for an extension of the deadline to the P&NG board. However, as L Mansingh shares, whether the board can extend the deadline or cancel that authorization altogether, given government has issued the authorization, is an issue that remains to be addressed. In this situation, not only will the operators stand to lose out on a project, due to the lack of proper dissemination of the project on account of the government, much delay will be rendered to the prolific development of the gas region altogether.

With reference to the debt regarding the pricing of gas, a government committee has suggested introduction of the concept of ‘pooled pricing’ in gas, i.e., linking the high price gas with the low price gas in order to so average out the price. This, however, does not bear well with either the operators or the PPNGRB Act and the Competition Act. Not only will this adversely affect LNG terminals that are slated to come up, it will lead to much distortion in the market, as said by L Mansingh. Giving KG-D6 as an example, he also noted that out of the profit, Reliance Industries stakes only 15 per cent share while the rest goes to the government. By fixing a lower price for its gas, the operator is stringently affected while the government remains to pocket huge profits; which can further be subsidized to a large extent.

As the demand for energy products escalates, the onus lies on the government’s shoulder to roll out and allocate projects to operators with a clear purview, while safeguarding their business modules as far as possible.

Technical Experts support RIL’s stand in KG-D6 audit report reply

2011-09-19T06:01:00.001-07:00

After Comptroller and Audit General (CAG) hot pressed Reliance Industries Limited (RIL) for allegedly overstating its cost expenditure incurred on account of KG-D6 gas block and for violating production sharing contract (PSC), technical experts from the field have stepped up to possibly detach alleged allegations from factual reality and present an objective view of the situation that has now been subjected to barefaced assertions and no definite agreement.

Ernst & Young a global consulting firm, along with IPA Inc. - an industry leader in quantitative analysis of project management systems - and Daniel Johnston & Co Inc. - an independent US based consulting firm with experience of working with 40 governments and numerous independent oil companies worldwide – have conducted independent research on KG-D6 process and its cost evaluation to ascertain RIL’s actions more clearly.

E&Y performed a procurement audit on RIL’s KG-D6 acreage and confirmed that costs were correctly allocated and there exists no evidence that would suggest that KG-D6 costs were overstated in anyway. The firm confirmed this stance after carefully reviewing project management principles relevant to the assessment of KG-D6 block. With regards to the impact of escalation of capital expenditure, E&Y confirmed that any increase in capital expenditure is detrimental to both the contractor and the government.

IPA assessed the Field Development Plans (FDPS) on five essential criteria including cost overrun, cost competitiveness, slippage in execution, schedule competitiveness and operability. After carefully reviewing against these criteria, IPA rated KG-D6 as ‘a successful project’. It stated that although KG-D6 faced many execution based challenges, its FDP complies with industry standards. IPA also noted that KG-D6 projects achieved successful outcomes across most project measures including cost growth, cost competitiveness, operability performance and schedule competitiveness.

Daniel Johnston & Co. noted that sophisticated actions, including extensive drilling, seismic and geological activity undertaken in the KG-D6 region, make the block ‘one of the most extensively appraised frontier, ultra-deep water blocks in the world’. The exploration, appraisal and development operations carried out by Reliance in the KG-D6 block are entirely consistent with GIPIP. It also affirmed that DGH’s decision to treat the entire block as a ‘discovery area’ was a reasonable decision fully supported requisite data and the situation.

The consensus averaged out by these independent researches completely validate RIL’s stand in its reply to CAG’s accusations. Coming from such eminent bodies in the field, the insight purported by each of these firms has almost authenticated Reliance’s actions and procedures to a large extent.

Nita Ambani teaches underprivileged children

2011-09-19T04:53:00.001-07:00

18th September: Nita Ambani, who joined the Coca-Cola NDTV Support My School Campaign, visited Priyadarshini Vidyamandir at Charkop, as a part of her social initiative to help underprivileged girls. Nita Ambani, Chairperson of DAIS, has always been consistent in her social work, and now adds more to her service to the less privileged. Many children, especially girls, discontinue their studies after a certain age, due to lack of restrooms and sanitation. The purpose of this campaign is to facilitate institutions with proper, hygienic sanitation and encourage students from dropping out mid-way through their schooling.

Nita Ambani, who was touched by the poor conditions, in which the children study, did not fail to leave an imprint on the young minds. Accompanied by Vinod Dua from NDTV, she was greeted by a lady in the traditional way of applying ‘tikka’ and was presented flowers. A pleasant smile on her face, she walked in to the classroom and using conversational techniques, taught the kids. She used stuffed toys such as a duck and a cat as visual aids while teaching a poem to the little ones.

Nita played quiz with the children who were happy to have a teacher who was friendly, and gave them gifts. She walked into another class, where the students were present along with their parents. She enquired with the parents regarding what they aspired for their child, and what their major concerns were. After the teaching session, as a surprise, she distributed sweets among the kids.

Nita Ambani was amazed by the talent of the children who performed for her. She was truly moved by the ‘lavani’ performed by Pooja, a physically disabled child. Having a keen interest in Classical Dance, she did not hesitate to join the children onstage.

Teaching has always been Nita Ambani’s passion. She supports the NGO, Akanksha, which educates the street children. Sessions for these children are conducted in Dhirubhai Ambani International School, in the evenings.

She regards her visit to Priyadarshini Vidyamandir as one of the best and most memorable experiences in her life. She feels that everyone should try and give in their best to educate the girl child, and the less privileged children. Nita Ambani has plans for the future& wants to contribute more towards education in rural India. She has set an example that a life of service and compassion is the true face of humanity.

Reliance Digital Presents ‘Maha Mismatch Exchange Festival’

2011-09-16T07:13:00.001-07:00

Reliance Digital, India’s largest electronics retail chain has rolled out a special seasonal offer – the ‘Maha Mismatch Exchange Festival’ - where customers can exchange just about any old electronic item for any new electronic item at a discounted rate.

As a part of Reliance Digital’s long standing tradition of bringing forth exclusive and special offers all year round, this one, too, comes on an exciting note. What makes ‘Maha Mismatch Exchange Festival’ an exclusive opportunity for customers is the special scheme where customers can bring in any old appliance; from refrigerator, washing machine to TV, mobile phone and AC, and exchange it for any new product from the store at the best exchange discount starting from Rs. 2000 to Rs. 5000. Also, Reliance Digital has set in place a special EMI scheme under which customers can take home any new electronic product at 0% interest. Every purchase made at the Reliance Digital store will be backed by Reliance ResQ customer support plan.

About Reliance Digital: Reliance Digital is a multi-brand electronics retail chain offering a multitude of electronic products and brands to choose from. Carrying a wide assortment of products from high-end LED and LCD TVs, refrigerators, microwave ovens, laptops, mobile phones, gaming consoles and software, home appliances, mp3 players to even the smallest of IT based devices, Reliance Digital is a one-stop shop for all things electronic. Spread over 10,000 sq.mt of space, Reliance Digital stores are spacious, well furnished and carry over 4000 products of 150 brands from world over. Reliance Digital stores guarantee their customers the lowest prices and best quality products – a value proposition that is hard to decline. Offering great value for money on every purchase, Reliance Digital stands as an ideal store for any customer looking for a great deal on electronics.

Mukesh and Nita Ambani: The Face of Corporate Philanthropy

2011-09-15T00:06:00.001-07:00

Philanthropy, in a larger context, involves voluntary efforts directed at human welfare and social betterment. In times when consumerism and materialist disposition takes top priority for individuals and organizations alike, it is refreshing to see corporate leaders, such as Mukesh Ambani, adhere to the time-honored activity of doing good for the society and its people.

Mukesh Ambani, along with his wife Nita Ambani, is the quintessential figure of modern corporate philanthropy. Both of them have invested much of their time and efforts in tackling and improving issues that are of social importance. Their inclination to social welfare is evident from their corporate social responsibility arm – Reliance Foundation – which serves as the medium to undertake and impart social welfare projects. This organization was set up to better direct Reliance Industries Limited’s (RIL’s) endeavors in doing things for the community and society. Over the many years since its inception, Reliance Foundation has found ground as one of India’s leading CSR arms that encourage many a gainful causes. From addressing issues like encouraging formal and vocational education, providing affordable high-quality health care, setting up evocative rural development and urban renewal programs, and protecting and promoting of India's heritage of arts and culture, Reliance Foundation ensures it does its part in contributing to the betterment of the society.

Reliance Foundation isdear to both Nita and Mukesh Ambani. While Mukesh Ambani leads the industrial arm of RIL, Nita Ambani has taken on the charge of overlooking and igniting social programs on behalf of RIL, so that the organization is regularly involved in benevolent projects. Apart from Reliance Foundation, Nita Ambani also lends her time to other social causes, including UNAIDS – a project aimed towards halting and reversing the HIV epidemic in India and Project Drishti, a unique initiative by RIL and NAB, with an aim to give sight to sightless people from the underprivileged segment at no cost.

To see corporate power couple such as Mukesh and Nita Ambani, take a proactive role in leading socially resound initiatives, an inkling of inspiration can be taken by others to follow a similar path.

‘CAG’s report detrimental to both contractors & government’

2011-09-14T06:13:00.001-07:00

After presenting its final report on audit of Reliance Industries Limited‘s (RIL’s) KG-D6 gas block, Comptroller and Audit General (CAG) body has invited a lot of negative press as far its process of gauging industry procedures is concerned.

CAG, in its audit draft report, had lashed out against RIL for allegedly overstating its costs, while also pointing a finger at the oil ministry for showing laxity in implementation and management of production sharing contracts (PSCs). Reliance Industries took a stand on the charges stated by CAG saying that CAG had missed the mark as far as gauging E&P procedures, in relation to internal and external factors, is concerned. While RIL maintains that irrespective of the report, it continues to maintain a strong adherence to global benchmarking procedures, the after math of the allegations has left many operators in oil and gas sector questioning the forethought of the audit body.

Industry experts have stepped up in support of Reliance’s stand sharing the view that the entire shenanigan put up by CAG has left a detrimental mark on the reputation of the E&P sector. Also, independent reports by experts from E&Y, IPA and Daniel Johnston & Co. Inc. have entirely validated RIL's stand in its responses to CAG. These independent reports have acknowledged RIL's commendable efforts in ‘bringing to stream India's first deep water hydrocarbons production facility in record time’ and the fact an energy major as big as BP Plc has entered into a strategic partnership with RIL in this exact block further strengthens Reliance’s stand and justifies its efforts and processes to a large extent.

As for the issue that has been stretched out of proportion by CAG, one thing that finds common ground in all opinions, including those of industry leaders and experts is that CAG has obtusely relied on going by book as against gauging a situation based on current trends and economic factors. Questioning the prudence of an operator is not a part of CAG’s mandate and questioning the technical and operational judgments of an operator that were in effect the best possible judgments at the time, is a factor that must find precedence in evaluating any procedure.

MukeshAmbani and Reliance Industries: Charting the path of bigger and better

2011-09-13T00:01:00.001-07:00

Mukesh Ambani run Reliance Industries Limited (RIL) is India’s largest private sector company in terms of market capitalization and a Fortune 500 company no less. It runs the biggest oil refinery unit in the world and is currently the world’s largest producer of polyester. It chairman and leader Mukesh Ambani is no less habituated to accolades similar to that of RIL. He is one of the 50 Most Influential people in the global financial sector; the first non-American non-executive director of Bank of America – one of world’s leading financial institutions and his possibly the face of corporate leadership in India and the world.

Mukesh Ambani almost personifies the pursuit of big, better and the best. He owns more than 45 percent of stake in Reliance Industries, valued at $26.7 billion as on September 7, yet the big dream Mukesh Ambani is chasing goes beyond just the numbers he crunches. As far as his brainchild RIL is concerned, he dreams of taking it global. A quest for global presence drives him to partner up with other leading organizations of the world in order to result in a proposition that looks at wholesome, holistic and mutually beneficial growth of both organizations. Testaments to this pursuit is the much acclaimed deal RIL signed with London based energy major BP Plc, which will result in development and augmentation of deep sea oil reserves of India; RIL’s partnership with international hedge fund leader D E Shaw, which will propel Reliance Industries into financial services sector and even the acquisition of shale gas assets in US based energy companies, that will help develop natural gas reserves in a prolific way.

As for his country, Mukesh Ambani dreams of building a nation that creates opportunities rather than seeking them. There is a strong realization to be a part of the overall growth of the country, which has supported and nurtured RIL all along. As of today, RIL charts 10% share in Sensex listing, adds substantially to India’s GDP and is a major contributor to India’s core sectors including fertilizers and power as far as proving energy resources is concerned.

Future for RIL is bright, undoubtedly. After successfully establishing its presence in core sectors, Reliance is eyeing growth prospects in its subsidiary sectors like retail, telecom and financial services. It is a dream to be omnipresent, but in a way that exemplifies the ‘big’ factor.

Mukesh Ambani’s RIL receives five star rating from British Safety Council

2011-09-12T23:42:00.001-07:00

Mukesh Ambani led Reliance Industries Limited (RIL) has been awarded a five star rating in the occupational health and safety audit conducted by British Safety Council - an internationally recognized system that is used by leading organizations of the world to benchmark their health, safety and environment (HSE) management systems against the best practices. British Safety Council is a registered charity with a mission to support a safer, healthier and more sustainable society. It is one of the world’s leading Health and Safety Organizations.

The merit rating has been bestowed upon RIL’s KG-D6 gas processing unit located in Gadimoga in East Godavari district of Andhra Pradesh. In statement released by Reliance Industries, the company noted that the award ‘recognizes RIL's adherence to the best industry safety practices at its Gadimoga plant and compliance with the best industry practices worldwide.’

Apart from the recognition by BSC, RIL’s KG –D6 facility has been granted many significant awards and recognitions, including ISO-9001, ISO-14001 and OHSAS-18001, with respect to safety and quality certifications.

The Krishna - Godavari basin block KG-DWN-98/3 (D6) has 19 oil and gas finds. Of these, Dhirubhai -1 (D1), Dhirubhai- 3 (D3) fields and an oil field MA are currently the largest. While KG-D6 is producing about 45.4 mmscmd of gas per day, MA oilfield produces a little less than 15,000 barrels per day of oil and about 7.6 million standard cubic meters per day of natural gas from its five wells. The present output from RIL oil and gas fields is sufficient to meet the contracted demand of core sectors, i.e., 15.35 mmscmd for fertilizer units, 29 mmscmd for power plants, 0.65 mmscmd for city gas distribution firms and 2.59 mmscmd to LPG plants. Following the establishment of Gadimoga processing facility, RIL has been able to substantially increase its output volume and also helped reduce the fertilizer subsidy – a sector which jointly consumes 70% of India’s natural gas along with the power sector.

“CAG’s abrasive audit report on Reliance Industries (RIL) reflects badly on E&P sector of India”

2011-09-09T05:59:00.001-07:00

Comptroller and Audit General’s (CAG) final audit report on alleged irregularities in production sharing contracts (PSCs) in energy and petroleum sector has finally found the light of day, but on an incongruous note. While the report has criticized the government for allowing private operator Reliance Industries Limited (RIL) to retain an entire block after the first phase of exploration in violation of its PSC, it also happened to praise the government, ratheraberrantly, for developing world-class, deep-sea infrastructure in record time. CAG has also made a recommendation that the PSC structure be modified and that the government play a more vigilant role in the operations of the same.

Commenting on the audit report, RIL maintained that irrespective of what the report suggests, it has put in place a global benchmark for efficiency, project completion and capital costs in developing India’s oil and gas fields in a continually challenging environment. “We are proud of our achievements,” the company statement added.

Enconters with CAG have been a mixed bag of emotions for all players in E & P sector. The audit reports are known to be out and out harsh on the first count. Following many discussions with the company management and analysis of situation from an operator’s perspective is the stance diluted to an extent. However, many industry experts are of the view that this entire shenanigan by CAG has somewhat made a detrimental mark on the reputation of the E & P sector. As far as making recommendations to the industry procedures is concerned, many experts are of the opinion that CAG is not necessarilytechnically sound enough to do so.

As crude prices have consistently charted an escalating graph over the last five years, the production and development costs have proportionately been affected for almost all operators, especially those engaged in the deep water exploration projects. Experts, including R S Sharma, former ONCG chairman, have opined that capital investment, especially from private players in E&P space,is needed to explore and develop India’s large sedimentary resources, which lay undeveloped. Such reports which discourage foreign investment sentiments reflect badly on the industry and its players on the whole.