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Reliance Infrastructure re-designates Lalit Jalan as CEO

April 25, 2012 · Filed Under Reliance Infrastructure · Comment 

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lalit-jalan-reliance-infraReliance Infrastructure today said it has re-designated its whole-time director Lalit Jalan as Chief Executive Officer but he will not be a part of the company board.

In a filing to the BSE, the Anil Ambani-led company said, “With a view to bifurcating the executive responsibilities from the board membership, Lait Jalan and S C Gupta have stepped down from the board”.

Gupta has been working in the company as its Director, Operations.

Reliance Infra’s Board, which met today, decided to make the changes.
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Nita Ambani received Corporate Citizen of the Year award

April 25, 2012 · Filed Under Ambani Family · 1 Comment 

nitaMrs. Nita M Ambani, Chairperson, Reliance Foundation, received teh Corporate Citizen of the Year award instituted by AIMA (All India Management Association) at a function held in New Delhi.

Ambani received the award from Union Minister for Urban Development & Poverty Alleviation Kamal Nath at a function in New Delhi. The AIMA Managing India Awards was constituted last year to promote management in every sphere of life and recognize them as a patron of management in fields as varied as commerce, art, and cinema.
Source: indiaeducationdiary

Mukesh Ambani keeps promise: RIL becomes debt free

April 24, 2012 · Filed Under Reliance Industries · Comment 

mukesh-ambaniHelped by a huge cash pile of over Rs 70,000 crore, corporate giant Reliance Industries has become a debt-free entity — a feat its billionaire chief Mukesh Ambani had promised to achieve about ten months ago.

At the end of last financial year ended March 31, 2012, Reliance Industries Ltd (RIL) had total cash balance of Rs 70,252 crore (USD 13.8 billion), as against an outstanding debt of Rs 68,259 crore (USD 13.4 billion) — making the country’s most valued firm debt free on a net cash basis.
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Reliance Jewels to enter southern markets this year

April 24, 2012 · Filed Under Reliance Retail · 1 Comment 

reliance-jewelsReliance Jewels, which had deferred its entry into certain highly competitive regions in the South, expects to enter these markets this year.

Apart from looking at online retailing, the company also plans to double its stores strength this fiscal.

The jewellery arm of Reliance Retail will enter the Chennai, Coimbatore and Madurai markets this year, Mr Ashok Kaul, Senior Vice-President and Business Head of Jewellery, Reliance Retail, told Business Line.
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Reliance Jewels to offer double gold rate protection

April 24, 2012 · Filed Under Reliance Retail · Comment 

reliance-jewelsReliance Jewels plans to offer double gold rate protection to enable a customer to shield his gold rates in the fluctuating market.

The scheme is being offered by the company to push up sales during Akshaya Tritiya.
Under this scheme, customers can pre-book their jewellery today and on the day of Akshaya Tritiya stand to gain from a lower price, irrespective of a raise or dip in gold price (on Akshaya Tritiya) compared with their booking date.
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Reliance Jewels announces exciting offer for Akshaya Thrithiya

April 17, 2012 · Filed Under Reliance Retail · Comment 

Akshaya Thrithiya is the festival of prosperity and good fortune. Keeping line with this, Reliance Jewels, the jewellery specialty store from Reliance Retail has announced the special Akshaya Thrithiya offer, allowing customers to usher in prosperity and enjoy pure jewellery this season.

Celebrating the occasion, Reliance Jewels is offering double gold rate protection for Akshaya Thrithiya. Customers can pre-book their jewellery today and on the day of Akshaya Thrithiya irrespective of raise or dip in gold price than their booking rate they get to pay the lower price. Customers can also avail Upto Rs 150 off on making charges on gold jewellery and ipto 100 per cent off on making charges of Diamond Jewellery. Starting from April 17 to April 24, 2012, the offer can be availed at all Reliance Jewels stores across the country.
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RCom to market Android devices for 2 years with 3G connection

April 17, 2012 · Filed Under Reliance Comm · Comment 

Reliance Communications (RCom) today said it has entered into an exclusive partnership with Google to market all devices built on Android platform for two years in India with its 3G connection and other facilities.

“In line with the rapid growth of smartphones in the country, Reliance has
collaborated with Google to catapult the change by providing new experience to device users in terms of speed, coverage and app (applications) ecosystem across segments,” RCom’s Group Head for Brand and Marketing Sanjay Behl said in a statement.
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LIC lowers Reliance Industries exposure: FIIs buy more in Q4

April 17, 2012 · Filed Under Reliance Industries · Comment 

State-run insurance giant LIC lowered its stake in Reliance Industries Ltd (RIL) with sale of shares worth an estimated Rs 500 crore during the previous quarter, but foreign investors raised their holding by more than Rs 1,200 crore during the same period.

As per its latest shareholding pattern, filed by RIL with the stock exchanges today, LIC’s stake in the country’s most valued firm dipped from 7.31 per cent to 7.09 per cent during the January-March, 2012 quarter.
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Nita Ambani and Shahrukh Khan return to Mumbai from the US

April 15, 2012 · Filed Under Ambani Family, Videos · Comment 

Reliance Power gets $80-mn export financing nod from US Exim Bank

April 15, 2012 · Filed Under Reliance Power · Comment 

The Export-Import Bank of the US has approved a $80.32 million (over Rs 400 crore) direct loan for Anil Ambani-led Reliance Group firm R-Power’s purchase of solar power technology from American companies.

The technology would be purchased from companies in eight states of the US and would be used for R-Power (Reliance Power) solar energy project in Rajasthan, India.

The Exim Bank said that its board has approved the loan for this project, named Rajasthan Sun Technique Energy Private Limited — a subsidiary of R-Power and being co-financed by Asian Development Bank and Dutch development bank.
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