Reliance Industries Ltd to declare Q1 results on July 24, 2009

Reliance Industries Ltd has announced that a meeting of the Board of Directors of the Company will be held on July 24, 2009, inter alia, to consider and approve, the unaudited financial results of the Company for the quarter ended June 30, 2009 (Q1).

The stock closed the day at Rs.1934.30, up by Rs.59.30 or 3.16%. The stock hit an intraday high of Rs.1966.60 and low of Rs.1880.

The total traded quantity was 1697426 compared to 2 week average of 1305070.
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Reliance NIS academy looks to end job shortage

In order to cater to the rising demand for market ready professionals in fast growing verticals like finance, retail and telecom, training and education solutions provider NIS Academy has launched its operations in the city here on Wednesday. The NIS Academy, a Reliance Anil Dhirubhai Ambani venture, promises to offer employability-linked programmes at Intermediate and graduate level nurturing students into effective professionals.
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Reliance Digital opens first store in Chennai,TN

Reliance digital, consumer durable and information technology speciality store of Reliance Retail, subsidiary of Reliance Industries, today opened their first store in Tamil Nadu.

The company has invested close to Rs three crore for setting up its 15000 sq ft store, the 16th in the country.

The company planned to open 14 more such stores in Tamil Nadu over the next two years, Reliancedigital President and Chief Executive Ajay Baijal said in a release.
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Malay Ghosh elevated as president of Reliance Life Insurance

Reliance Life Insurance Company (RLIC), part of the Reliance Anil Dhirubhai Ambani Group, on Thursday announced the elevation of Malay Ghosh as president, as part of the company’s overall growth plans.

The announcement was made by Sam Ghosh, chief executive officer, Reliance Capital Ltd, in Mumbai.

Malay Ghosh has taken over as the president, Reliance Life Insurance, from his previous role of deputy chief executive officer to further lead and strengthen the organisation and continue to provide direction and focus.
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Reliance power consumers in Mumbai can pay bills at old tariff

The Maharashtra Electricity Regulatory Commission (MERC) provided major relief for over 23 lakh Reliance power consumers in suburban Mumbai when it decreed on Wednesday that customers could continue to pay according to the old tariff.

MERC’s order will apply until it completes its probe into allegations of inflated bills and issues further directives, state energy minister Sunil Tatkare said. The MERC order stays the hike for 23 lakh out of Reliance’s 27 lakh consumers, and applies to all residential consumers (except those below the poverty line) and some commercial and industrial customers.
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RNRL is earning profit from RIL gas is not a concern

Reliance Natural Resources Ltd (RNRL) has questioned the propriety of Reliance Industries Ltd (RIL) in raising the issue of profits that it may earn out of the gas it gets from the Mukesh Ambani-run company.

The profits that RNRL may make is not a concern of RIL. In fact, RNRL was created just so that it could earn such a profit. Otherwise there was no need to create such an entity, RNRL said in its affidavit filed in the SC on Tuesday.
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Ambani brothers may compete for Hyderabad Metro rail project

The Ambani brothers are set to cross swords yet again with both Mukesh and Anil-owned companies making quick moves to bag the Rs 12,132 crore Hyderabad Metro Project for which the Andhra Pradesh government on Monday called for fresh global bids.

The Anil Ambani-owned Reliance Infra had made it amply clear even before the state government terminated the concessional agreement with the Maytas Infraled consortium on July 7 that that it would bid for the project provided fresh tenders are called for. In the previous bid for the metro project, Reliance Infra had sought a grant of Rs 2,811 crore.
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UTV Movies acquires rights for 25 Reliance BIG Entertainment films

UTV Movies, the premier Hindi movie channel from the UTV Network has acquired world telecast rights for 25 Reliance BIG Entertainment films, from which 20 films will be World TV Premieres.

The list of films includes blockbusters such as Rock On, Luck By Chance and Johnny Gaddaar. Other titles include recent films like 13B, Sikandar, Karzzzz, Aag, Marigold, Go, Love Story 2050, Summer 2007, Cash, Khoya Khoya Chand, Say! Salam India, Shiva, Gauri…, Eik Dastak and Black Friday. All these titles will be premiered for the first time on television on UTV Movies.
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Reliance Industries Gasoline Cargo ship to New York

Reliance Industries Ltd., the Mumbai-based refiner seeking to compete overseas, has sent its first shipment of gasoline in two years to the U.S. from its new plant, a shipbroker said.

Hess Corp. chartered the tanker King Douglas to transport gasoline to New York starting June 28, Singapore-based Millennium Chartering Pte., a ship brokerage, reported last month. Lorrie Hecker, a spokeswoman for Hess, and Manoj Warrier, a Reliance spokesman, declined to comment.
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Reliance Digital plans to launch its own brand

Reliance Digital, part of Reliance Retail Ltd, a subsidiary of Reliance Industries Ltd (RIL), plans to introduce its private label brand within six months.

Speaking to reporters at the launch of the first store of Reliance Digital in Tamil Nadu, Ajay Baijal, president and chief executive, said the private label will be introduced within six months to study the market and then the segment will be ramped up by next year. The private label of Reliance will include accessories, IT products, consumer electronics and home appliances. Baijal also mentioned that there are inventory risks and expenditure in the form of after-sales infrastructure for private labels. But there are also gaps in product specification and market price. Hence, there are ample opportunities to differentiate, he noted.
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