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Dhirubhaism
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What to expect from Ambani brothers in 2012
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As Ambani brothers dance to the tune of garba music, many Reliance Industries and Anil Dhirubhai Ambani Group investors would have started to build high expectations from the new year.
On Tuesday, when trading began, the BSE Sensex stayed flat. Reliance Communications shares jumped 5 per cent. No other Anil Dhirubhai Ambani Group company share rose so much. Over the past one week, Reliance Communication shares have surged 17 per cent. The BSE Sensex rose 3.3 per cent during the same period.
The trading pattern of the day and the week indicates that the street has already begun to build that anticipation. They expect something to emerge out of the family get-together at Chorwad, Gujarat, the native place of the late Dhirubhai Ambani.
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Reliance Power starts third unit at Rosa
Reliance Power has commissioned another 300-mw unit of its power project at Rosa in Uttar Pradesh, taking the total capacity to 900 mw, the company said on Wednesday.
Announcing the commissioning on the 80th birth anniversary of Dhirubhai Ambani, Reliance Power Chief Executive Officer J P Chalsani said the plant was operating at 85% capacity and Chinese equipment, sourced from the Shanghai Electric Company, was functioning well.
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Reliance Communications Close To Selling Tower Business
Reliance Communications Ltd. is close to selling its telecom tower business to a consortium of private equity firms Blackstone Group L.P. (BX) and Carlyle Group L.P., the Times of India reported Monday, without citing any sources.
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Family to unite at Chorwad for Dhirubhai Ambani memorial
Amid speculation in distant Mumbai that they have buried their difference after six years of estrangement, brothers Mukesh and Anil Ambani are set to gather in Chorwad to dedicate a memorial to their late father and founder of India’s most valuable company Reliance Industries Ltd in his birthplace.
Mukund Damani, a resident of Chorwad and cousin of Dhirubhai’s widow Kokilaben, likens it to a “second homecoming” for the extended Ambani family, which will visit the nondescript coastal Gujarat town on 27-28 December.
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Mukesh Ambani to PM: We’ll invest 70k crore
After a long spell of gripes over policy inaction, Reliance Industries chairman Mukesh Ambani has provided some much-needed support to the government, saying he did not share the gloom and pessimism that several industry leaders were talking about.
At the meeting of the Prime Minister’s Council on Trade and Industry on Thursday, the country’s richest man went on to talk about his group’s mega investment plans. “Sir, I don’t share the gloom and pessimism on India. I plan to invest Rs 70,000 crore in India over the next two years. To me, India remains the best investment destination,” a senior government official present in the meeting quoted Ambani as saying.
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Reliance Communications launches ‘Mera Pack Rs.148′
Reliance Communications, India’s fully integrated telecommunications service provider today launched the most cost effective local pack in Mumbai called the ‘Mera Pack Rs 148′. This value for money pack offers 1500 minutes of local calls and promises to meet the unmet demands of high local call users
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Reliance launches new prepaid scheme in Delhi
Telecom major Reliance Communications on Wednesday launched a new prepaid scheme, Mera Pack Rs.148, in Delhi that offers 1,500 minutes of local calls.
The scheme is available in both CDMA and GSM networks. The pack is valid for 30 days.
Customers can make 1,000 minutes of local calls to Reliance network and 500 minutes to other operators, the company said in a statement.
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Reliance Mutual Fund launches “Any Time Money” card
Giving retail consumers instant access to their mutual fund investments, Reliance Mutual Fund Wednesday launched the Reliance Any Time Money Card here.
“Reliance Mutual Fund is the first fund house in the country to launch this card that offers all the convenience of a debit card for investments made in Reliance mutual fund schemes,” Reliance Capital Asset Management Ltd. deputy CEO Himanshu Vyapak told reporters here.
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Arrest warrant issued against Mukesh Ambani
A bailable arrest warrant has been issued against Reliance Group of Industries chairman Mukesh Ambani by a Kerala consumer forum for his failure to pay a Rs.24,000 fine to a person who had purchased a mobile from a Reliance outlet in 2003.
The case before the Thirissur Consumer Dispute Redressal Forum dates back to 2003 when M. Joseph purchased a Reliance Infocomm mobile phone for Rs.24,000, his advocate Seby J. Pulley said. The customer said he was promised numerous offers such as free outgoing calls and SMSes but failed to get the services despite several attempts to avail the offers.
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Reliance eyes fast food business
Mukesh Ambani-led Reliance Industries Ltd (RIL), as an extension of its retail business, is planning to start a fast food chain in India, a senior company official confirmed.
Rishi Negi, a senior professional having considerable experience in fast food business has been hired by RIL to drive this business. According to RIL officials, the fast food business should start within six months.