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Reliance Life Insurance IPO may come soon

July 2, 2009 · Filed Under Reliance Insurance · Comment 

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Anil Ambani, known for mega size IPOs, is eyeing the insurance sector this time. He wants his six-year old Reliance Life Insurance to list. But this time the younger Ambani’s market plans hinges on government approval.
Ambani now wants to unlock the value of his life insurance venture by going public.
Sources told NDTV that the company has already begun the due diligence process and bankers are working on the valuations.
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Worli-Haji Ali link on fast track, Reliance Infrastructure favourite for deal

July 2, 2009 · Filed Under Reliance Infrastructure · Comment 

The state cabinet is set to give the Worli-Haji Ali Sea Link the go-ahead next week, days after the opening of the Bandra-Worli Sea Link, and the contract for the next arm of the Western Freeway Project is likely to be awarded to the Reliance Infrastructure Ltd-led consortium.

The recommendation from our end has been sent for awarding the contract to the REL-led consortium, but the cabinet’s nod is required. The decision is likely to be announced next week, PWD Minister Vimal Mundada said.
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Reliance Industries to close Jamnagar refinery for 2-3 weeks for maintenance

July 2, 2009 · Filed Under Reliance Industries · Comment 

Reliance Industries will partially shut down its old Jamnagar refinery (J-1) for 2-3 weeks to carry out maintenance work.
RIL will shut a 325,000 barrels per day crude distillation unit (CDU) at J-1 from July 3, a company statement said.

The company had planned maintenance shutdown at the 660,000 barrels per day J-1 in April 2009 but delayed it to enable the adjacent only-for-exports refinery (J-2) to start all of the main processing units. The second CDU at J-2 was started a few days back.
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Reliance Industries will have to pay royalty on KG basin natural gas: Govt

July 2, 2009 · Filed Under Reliance Industries · Comment 

The government today said Reliance Industries will have to pay royalty on natural gas it is producing from KG basin fields as per the Production Sharing Contract (PSC) signed with it.

Minister of State for Petroleum and Natural Gas Jitin Prasada in a written reply to a question in Lok Sabha cited PSC as the governing law for deciding on royalty and government’s share in the oil and gas produced from D6 block.
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Reliance Big TV and Reliance Money launches iStock

July 2, 2009 · Filed Under Reliance Big TV · Comment 

In yet another attempt to offer its consumers an interactive and innovative feature, Reliance Big TV on July 2, 2009, launched iStock, a portfolio tracking service through their DTH platform in association with Reliance Money. Reliance Money has created an iStock zone on Big TV’s DTH platform. This zone will not only provide information about Indian and international indices, currencies, commodity, stock and market news, but also provide customers with value added services, including a personal portfolio management tracker. Big TV, which currently has around two million subscribers, is eyeing three million subscribers this year.
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Reliance Communication Brings BBC News Radio In Hindi, Tamil, Urdu & Bangla

July 1, 2009 · Filed Under Reliance Comm · Comment 

Radio is a very popular medium in rural India. Through this service we wanted to offer same experience to our customers in their preferred language. Introduction of this service is part of our strategy to provide innovative services in local languages,” Krishna Durbha, Head - Business & Marketing , Value Added Services, RCOM has said.

BBC radio will be broadcast in four languages besides English, at different timings. News from BBC Hindi will be played at 6.30am, 8.00am, 7.30pm and 10.30 pm. BBC Urdu will be on at 7.00am, 8.30 pm and 11.00pm while BBC Tamil will play at 09.15am and BBC Bangla at 5.00 am, 6.00 am and 6.00pm. BBC Radio is available in 33 languages.
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Reliance Industries starts second crude unit at new plant

July 1, 2009 · Filed Under Reliance Industries · Comment 

Reliance Industries Ltd has started its second crude unit at its 580,000 barrels a day new refinery in Gujarat this week ahead of planned maintenance shutdown at its old plant, trade sources said on Wednesday.

Reliance plans to shut almost half of its 660,000 bpd old refinery this month for maintenance for about two weeks.

The second refinery has two crude distillation units (CDUs) of equal capacity. The first CDU was commissioned in December and commercial production from the plant began from March 15.
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Adlabs posts Rs 345 cr revenue from Big Cinemas division

July 1, 2009 · Filed Under Adlabs · Comment 

Entertainment major Adlabs Films Ltd, part of Reliance ADA Group, has posted Rs 662 crore revenue from operation for the financial year ended March 31, 2009, up by 57 per cent from its corresponding figure in the last fiscal. The cinema division of the company has seen highest growth during the fiscal at 103 per cent and contributed revenue of Rs 345 crore to the company. While the revenue at film and media services grew by 51 per cent to Rs 135 crore, Big Synergy (non-fiction programming division) recorded growth of 38 per cent to Rs 40 crore, according to a company press release.
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Reliance Power in talks to sell 15% equity stake to foreign investor

July 1, 2009 · Filed Under Reliance Power · Comment 

Reliance Power Ltd (R-Power), part of the Reliance Anil Dhirubhai Ambani (ADA) group, is in talks with five leading global power companies to sell 15 per cent equity stake in the company.

Preliminary talks have started with three Chinese power companies, which include China Light and Power Holdings (CLP), and French and Canadian companies.

Sources said Anil Ambani was in China last week to hold discussions with Chinese power companies for a possible stake sale. The company is willing to place the equity to one or two power companies.
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Maytas proposes Reliance Infrastructure as partner for Metro project

July 1, 2009 · Filed Under Reliance Infrastructure · Comment 

Maytas Infrastructure, majority- owned by the family of scam-hit IT firm Satyam’s disgraced founder B Ramalinga Raju, is believed to have proposed bringing in Reliance Infra as a partner in the prestigious Rs 12,200-crore metro rail project here.

While Reliance Infra’s position on willingness to join the consortium could not be ascertained immediately, sources said that some of the Maytas officials had approached Anil Ambani group firm last week on the issue.
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