Reliance

Reliance Infrastructure declares shares pledged by promoters

RelianceAnil Ambani-led Reliance Infrastructure, in a revelation before Bombay Stock Exchange, said that one of its promoters AAA Communication Pvt Ltd. pledged 16.35 per cent stakes in Reliance Infrastructure. Its other promotes includes Reliance Capital, Sonata Investments Ltd, Reliance Inn ventures Pvt. Ltd, Reliance General Insurance Company besides Ambani family.

Total of 3.72 crore shares are able to fetch Rs 2,119.92 crore to the promoter, considering prevailing market price of shares of Reliance Infrastructure. AAA Project Ventures held a 36.66 per cent stake out of 37.33 per cent stake of promoters in the firm.

Reliance Infra plans to buy back shares

Reliance Infra plans to buy back sharesReliance Infrastructure Ltd plans a special program to buy-back shares worth $143 million, in a bid to reduce outstanding number of equity shares in troubled times, till mid April. The firm would buy shares at maximum price of Rs 700 per share with premium of 27 per cent to the prevailing market price. Soon, it would start buy back process through open market purchase.

The firm hopes increased earning per share, leading to improvement in net worth. The company had also brought back 87.60 lakh shares worth Rs 796 crore trough an open offer closed on Feb 6, 2009.

RIL hopes to increase power generation capacity

RIL hopes to increase power generation capacityIndia's power generation capacity may increase by 500 to 4,000 MW in months to come following RIL's contribution of around 18 mmscd gas from KG basin D6 block. Country, mainly dependent on import of liquefied gas and other petroleum products, has a reason to cheer as it would help to cut import bill, a big burden of state exchequer.

Sony accused by BIG TVof bias, walks out of IPL

Sony accused by BIG TVof bias, walks out of IPLIt has recently come to vision that Reliance-Anil Dhirubhai Ambani Group (R-ADAG)-controlled BIG TV has withdrawn from partnering the Indian Premier League (IPL). The reason behind the withdrawal is the discrimination by the league's broadcast rights-holder Sony Entertainment Television (SET).

IPL CEO Sundar Raman was the one who received the BIG TV's decision, who alleged that SET has decided to provide the contract to competitor Airtel DTH, though it quoted a lower price for on-air partnership, sources close to the development told Business Standard.

Reliance Communication inks pact with US-based Ditech Network

Ditech Networks & RelianceAnil Ambani-led Reliance Communication (RCOM) has signed an agreement with US-based Ditech Networks to deploy the latter's voice enhancement solution on its recently unveiled GSM network.

The deal is estimated to be worth Rs 50 crore and deployment is expected to enhance voice clarity on Reliance Mobile by approximately 30 per cent'.

Under the arrangement, RCOM will initially deploy Ditech's voice enhancement solutions across Top 10 towns and then extend coverage across other locations.

It should be noted that on Thursday, RCom has already commenced trial runs on Ditech's network

Reliance Infrastructure announces another buyback offer worth Rs 700 crore

Reliance Infrastructure LtdIndia's Reliance Infrastructure Ltd, part of the Anil Dhirubhai Ambani group, on Friday launched a Rs 700 crore ($144 million) buyback offer to boost its share price and returns.

The company said it would buy back shares from the open market at up to Rs 700 each, a premium of more than 27 percent to Thursday's closing price of Rs 550. It may be noted that the buyback announcement comes within a week of the infrastructure firm completing its Rs 796 crore buyback from the open market.

RCom launches GSM service in Jammu and Kashmir

RCom launches GSM service in Jammu and KashmirReliance Communications, part of the Anil Dhirubhai Ambani Group, has finally launched its GSM services in over 50 towns and more than 5,000 villages in Jammu and Kashmir.

With the launch, the subscribers in J&K can now experience best-in-class telephony services at the most friendly price points, including local calling and SMS, STD, ISD, roaming and Value -Added Services.

R-Com launches GSM services in New Delhi

R-Com launches GSM services in New DelhiReliance-Anil Dhirubhai Ambani Group (R-ADAG) owned Reliance Communications (R-Com) has launched Global System for Mobile (GSM) in New Delhi on Sunday, after starting services in several parts of the country.

R-Com regional head - Delhi, Haryana and Rajasthan circles, C. S. Rana said, "We got the licence for GSM services last year and within 11 months the company has launched the services in almost the entire country." He said that its low-tariff and affordable services besides good coverage, that are attracting people toward Reliance.

Tilaiya project bagged by Reliance Power

Tilaiya project bagged by Reliance Power The Tilaiya ultra mega power project (UMPP) in Jharkhand has been acquired by Reliance by proposing to supply power at Rs 1.77 per unit, which is the lowest price quoted by the four companies in the fray.

The government owned NTPC was the one to come with the next bid for the Rs 16,000-18,000-crore project that assured to provide power from the pithead coal project at Rs 2.39 per unit.

Jindal Steel and Power and Sterlite Industries were other two bidders. The former offered to supply power at Rs 2.69 per unit whereas latter bid the highest at Rs 2.97 per unit.

RCom to cut expenditures to maintain high growth

RCom to cut expenditures to maintain high growth  India's largest CDMA operator, Reliance Communications (RCOM) announced financial results for the third quarter ended December 31, 2008. The company reported marginal increase of 2.7 per cent in net profit during the period.

The Anil Ambani-promoted company reported significant decline in revenue from the wireless and broadband business segments.

Q3 net of RIL dips 10% at Rs 3,501 cr

Q3 net of RIL dips 10% at Rs 3,501 crIt was recently informed by India's largest listed company, Reliance Industries Ltd that the company's quarterly earnings sank by 9.8%, which is its first drop in three years. However, the forecasts have been beaten by the company as refining margin eased less than expected.

It is being hoped by Reliance, which is India's largest petrochemical producer and refiner that the good times for the company will commence in the second half of February when it will start generating 30-40 million cubic metres of natural gas a day from its deep-sea fields off India's east coast.

Irreparable harm and injury’ being faced by RIL

Irreparable harm and injury’ being faced by RIL It was recently informed by Reliance Industries (RIL) that it is facing "irreparable harm and injury." The blame for it is being put on a resource crunch caused by investments into the Krishna-Godavari basin.

The company said that if Anil Ambani group wins the case then RIL is ready to re-route gas to Anil Ambani group.

Reliance Capital gets nod for setting up a housing finance company

Reliance Capital gets nod for setting up a housing finance company Anil Dhirubhai Ambani Group company Reliance Capital, a major financial services provider, has finally secured an approval from the National Housing Bank (NHB) for setting up a housing finance company.

It may be noted that, Reliance Capital is already into the mortgage business through its wholly-owned consumer finance arm Reliance Consumer Finance.

Buy Reliance Petroleum

Buy Reliance PetroleumAs per views of Karvy Stock Broking Limited, traders can purchase Reliance Petroleum (RPL) stock around Rs 92 in order to achieve a target of Rs 98 in 1-2 days.

The stop loss for the suggested counter is Rs 88. The stock pricing becomes more attractive, and reach above the said level, if the stock markets remain positive.

On Tuesday (Jan 06), the company’s shares closed at Rs 91.05, down 1.62%, on BSE. The total volume of the shares traded was 9681390. The stock has also seen 52-week high of Rs 259.80 and low of Rs 68.55 on BSE.

Reliance Communications rolls out GSM Services; Offers SIM at just Rs 25

Reliance Communications rolls out GSM Services; Offers SIM at just Rs 25As a part of the nationwide roll out of its GSM services, Anil Ambani-led Reliance Communications has finally launched its GSM Services in Mumbai.

With the latest move, Reliance Communications has became the first private CDMA service provider in India to provide GSM services.

It may be noted that few days earlier, the company had announced the launch of its GSM services across 11,000 towns in the country.

Anil Ambani: Biggest Loser Of 2008!

Anil Ambani: Biggest Loser Of 2008!Industrialist Anil Ambani emerged as the biggest loser of the year and tops the list of 'Billionaire Blowups of 2008', compiled by prestigious US magazine, Forbes.

Earlier, he was ranked as the sixth richest person in the world with a net worth of 42 billion dollars by the same magazine. He was also credited to add the maximum wealth within less than a year.

S&P Forecasts Negative Outlook For Reliance

S&P Forecasts Negative Outlook For RelianceGlobal rating agency Standard & Poor's forecasts negative outlook for the Reliance Industries Ltd (RIL). Increased debt and pressure on profitability may affect the growth of the company. The rating firm had earlier projected stable outlook for Reliance.

S&P's credit analyst, Mr. Mehul Sukkawala added, "Profitability however is expected to be adversely affected by lower fuel demand, especially in the developed markets."

RCom Launches GSM Operations

Anil AmbaniThe Anil Ambani-led Reliance Communications has launched nationwide GSM services from December 31. The company is already operating almost all telecom circles with its CDMA services. The company would cover 11,000 towns and 3.40 lakh villages across the country by investing Rs. 10,000-crore in the field of mobile telephony. Reliance Communications has received spectrum to roll out GSM services in January this year and has set a record to launch services within a record low period.

Reliance Big Pictures will relaese 18 films in 2009

Reliance Big Pictures will relaese 18 films in 2009 Reliance Big Pictures is gearing up to release 18 movies for 2009 release. Out of these, 11 films will be released in Hindi while the other seven films will be in five regional languages. Big Pictures in association with Excel entertainment will release Luck By Chance, the directorial debut of Zoya Akhtar on 30 January. The movie stars are Farhan Akhtar, Juhi Chawla, Konkana Sen Sharma, Rishi Kapoor, Dimple Kapadia and Hrithik Roshan in a special appearance.  

Government Withdraws Affidavit In KG Basin Gas Case

Government Withdraws Affidavit In KG Basin Gas Case Union government had withdrawn the affidavit from the Bombay High Court, which was filed over RIL-RNRL gas dispute case. The affidavit was filed by the oil ministry, explaining the contractual violations over the sale of Krishna-Godavari basin gas.




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