It will now be Reliance Industries catering to your needs when you fine dine at The Trident or lay back in the lap of luxury at The Oberoi Hotel. Reliance Industries Limited, led by Mukesh Ambani, Asia’s richest man, announced that it had bought a 14.12 per cent stake in EIH Limited, which owns and manages several hotels in the country including the Oberoi and The Trident brands.
“The acquisition was made through RIL’s wholly-owned subsidiary Reliance Industries Investment and Holding Private Limited from Oberoi Hotels Private Limited and certain other promoters of EIH Limited” a statement from the company said.
“RIL’s investment in EIH Limited has been made as the Oberoi family had developed the ‘Oberoi Hotels’ brand into a premier international brand in the luxury hospitality sector and as a result EIH Limited has excellent future prospects,” the statement added.
The entire deal has set back RIL by a whooping Rs. 1,021 Crores. But knowing Reliance, one cannot be surprised at the enormity of the figures the deal has witnessed. Reliance is a very diverse and flexible company, a fact which is again proven by the mentioned deal.
In a statement, RIL said that the investment in EIH Limited had been made as the Oberoi family had developed the “Oberoi Hotels” brand into a premier international brand in the luxury hospitality sector. The company noted that EIH Limited has excellent future prospects. The statement also said that there would be no change of management, operation or control of EIH Limited.
RIL is likely to get one seat on the board of EIH Limited for its stake. Sources said that there was no immediate plan for an open offer. Sources also confirmed that this was a strategic investment and probably the first step for the petrochemical major to enter the hospitality segment.
Now with Mr. Ambani investing aggressively in the hospitality business, it would be interesting to know whether his competitors follow lead and this inception triggers a series of aggressive investments mounting to huge amounts. Only time will tell what is in store. But for the moment, it’s Reliance at your service.

India has surpassed South Korea to become the largest petroleum products exporter in Asia. With the commissioning of a new refinery by Reliance Industries at Jamnagar and Essar Oil increasing refinery output at Vadinar, India overtook South Korea by mid-2009 and has since then consistently maintained the lead position.

EXPERTS SHOW:
Gross Export Refining Capacity (million b/d)
India 1 3.69
South Korea 0.9 2.86
China 0.6 9.6
Japan 0.5 4.64

According to the data compiled by oil and metal information provider Platts, India’s gross exports currently average 1 million barrels a day, inching past South Korea which exports 0.9 million barrels a day which shows us that India’s average petroleum products export has grown from 0.77 million barrels a day in January 2009 to one million barrels a day in August 2009. In the current year, the average oil products export from India stands at 1.07 million while South Korea exports average 0.88 million.

“Both Reliance Industries’ Jamnagar and Essar’s Vadinar refineries contribute more than 90 per cent of the petroleum products exports while the rest is by public sector oil companies,” said Ms Vandana Hari, Asia Editorial Director, Platts.

According to her, petroleum products exports from India holds great potential as both RIL and Essar have high complexity refineries which make products that meet Euro IV and Euro V standards. Europe, the US and Africa are identified major markets for Indian refiners.

The surging demand for petroleum products abroad is also quite evident from the growth in the export volumes of both RIL and Essar. RIL alone exported 32.8 million tonnes of refined products last fiscal, fetching a revenue of $20.9 billion (Rs 1,10,176 crore).

And with the demand rising exponentially, it does not come as a surprise that the new Reliance Petroleum refinery in the Special Economic Zone (SEZ) at Jamnagar, which is designed to be export-oriented, is estimated to be exporting more than 80 per cent of its total output.

It is proven yet again that it is not necessary that every company would plateau with age. RIL being the ideal example is growing by leaps and bounds every single day, flying high while silencing cynics across the nation. With their actions being pretty decisive for the Indian economy, RIL without a doubt has become the face of business India.

Mukesh Dhirubhai Ambani, Chairman and Managing Director, Reliance Industries has been elected on board by the Foundation Board of the World Economic Forum.

Klaus Schwab, Founder and Executive Chairman of the World Economic Forum, said, “We are honoured to have three distinguished new members of the Foundation Board. Mukesh Ambani will bring an extraordinary level of business acumen and his commitment to the ideals of the Forum. He has played a key role, especially related to the integration of India into all our activities.”

The Foundation Board is composed of leaders from business, politics, academia and civil society who strongly identify themselves with the Forum’s mission to improve the state of the world and who make a valuable contribution to this mission through their involvement.

Along with Mukesh Dhirubhai Ambani the other two who were elected on the board were Ben J. Verwaayen, Chief Executive Officer, Alcatel-Lucent, France; and Zhu Min, Special Adviser, International Monetary Fund (IMF), Washington DC, and a former Deputy Governor, People’s Bank of China , People’s Republic of China.

The Reliance Industries chairman will play an important role in India-WEF relationship.

It’s incredible how many things a person can manage at the same time. From supervising the construction of a new wing at Mumbai’s Hurkisondas Nurrotumdas Hospital, run by a trust controlled by the Dhirubhai Ambani Foundation to making sure that the Mumbai Indians are in perfect shape for the Champions League; and all this while carrying a queen like grace all the time. Nita Ambani is in true sense a luminary of the business world.

Then there is the Dhirubhai Ambani International School (DAIS) as well, the project that is closest to her heart. Also, there are the affairs of the Dhirubhai Ambani Foundation, which she chairs, to go through. And, of course, the numerous family and other commitments that are part and parcel of being wife of Mukesh Ambani and the first lady of the RIL Empire.

Meeting with Neeta Ambani I hear is not the easiest of tasks. Many weeks and numerous calls later, one may be lucky enough to get a confirmation from her. So when you reach the clean, clutter-free and resplendent waiting room of her office, one cannot cease to wonder at the might of the Reliance Empire of which this may be a small yet significant part.

There are no hassles as with meeting with celebrities. No delays, No cancellations and definitely no last minute change of plans. Mrs. Ambani is a woman who respects time. Both hers and of others; and even while being in the midst of all the madness happening around her, Nita Ambani’s serenity is commendable.

“Everything at Reliance is always a bit of a whirlwind. So many things are happening all the time that you have to constantly shift focus,” she laughs, quoting the reason for all the wait and phone calls that had gone through to reach her.

Nita Ambani seems an accidental businesswoman. She got dragged into project execution almost two decades after she married Mukesh Ambani. Now she runs a not-inconsiderable enterprise with myriad activities. Most things she runs directly — the hospital and the school — are not technically businesses, unlike the Mumbai Indians franchise. But they are enormous and complex organizations nonetheless, employing hundreds of people.

They are private entities and trusts, so it is notoriously difficult to get an accurate handle on numbers. Intelligent estimates are, nevertheless, possible. It is estimated that over Rs 750 crore in revenues and over Rs 1,000 crore in annual investment budgets is being supervised by Nita Ambani which can definitely termed small.

While having the richest Indian for her husband, to being an idol in herself as well, Neeta Ambani will soon prove to be a valuable asset to even the reliance group which is headed by her husband, the mighty Mukesh Ambani. It would hence be quite interesting to witness the changes that Mrs. Ambani would bring along to reliance in case she thinks of joining in the brigade. But even for now, her efforts and accomplishments are the talk of the town and with her grace and business acumen, reliance industries limited may be well on its way to include hundreds of more ventures in the near future.

The Mukesh Dhirubhai Ambani Group is close to signing a 50:50 joint venture with global private equity and hedge fund company DE Shaw to enter the financial services sector. After its recent entry into the telecom sector, energy giant Reliance Industries, controlled by billionaire Mukesh Ambani, might very soon sign a pact with global hedge fund DE Shaw to launch a $700-$800 million infrastructure fund.

Trading in energy, carbon and derivatives may be offered and the joint venture may also look at offering private equity and mutual funds. RIL sources confirmed the announcement regarding the joint venture will be made shortly.

Recently, Mukesh Ambani and his younger brother Anil Ambani scrapped a pact in May this year that had earlier prevented them from entering each other’s businesses. As a result, sectors like telecom, power and financial services were open to Mukesh Ambani. Earlier, there were media reports of him being in talks to buy a significant stake in Nimesh Kampani’s JM Financial Asset Management, which oversees $1.8 billion in assets.

Mukesh Ambani is on the DE Shaw, India, controlling board, an entity which oversees the operations here. The negotiations are being handled by Manoj Modi, a close lieutenant of Mukesh Ambani. The joint venture may eventually seek a banking license in India.

India’s leading Industrialist Mukesh Ambani, CMD, Reliance Industries is now entering the world of Bollywood. According to sources, India’s Energy giant Mukesh Ambani and czar of Bollywood Yash Chopra might join hands to produce a film in the near future.
Mukesh Ambani’s Reliance Retail and Yashraj Films may float a 74:26 JV to set up multiplexes, run entertainment channels and produce soap operas for television. The new company formed out of this JV will use the upcoming malls of Reliance Retail nationwide to set up multiplexes.
“I love watching Bollywood movies and Yash Chopra is one of my favourite filmmakers. I have always believed that he has a Midas touch”, said Mukesh Ambani, Chairman, Reliance Industries. Mukesh Ambani has been a fan of Yash Chopra’s films since his younger days. It is said that despite the fact he has to spend lot of time in his business, he still finds time to watch latest movies with his family and friends in his Sea wind home.
The business tycoon is willing to invest a whopping amount of Rs. 200 Crores for this new venture. “Everything is at the nascent stage and no company will be forthcoming to talk about it right now,” says a source.
This move yet again demonstrates the diversity and flexibility of Reliance Industries to explore unknown territories. Mukesh Ambani may well bring about a revolution in the entertainment industry. With the amount of investments he would bring in, who knows, an Indian equivalent AVATAR may hit the box office very soon.

Mukesh Ambani’s RIL is now in talks with telecom equipment giant Alcatel-Lucent to procure broadband gear, a senior company official said.
Munish Seth, the newly appointed country head for the company’s Indian business, told reporters that Alcatel-Lucent expects the first set of broadband gear orders to come in early 2011. “We are in initial level of talks with most of the people who have won the spectrum. These majors include India’s largest listed conglomerate, Reliance Industries, and Tikona Digital Networks.” he added.
Earlier this year, many of the India’s top mobile firms like Bharti Airtel, Vodafone, Tata Teleservices and Idea Cellular spent a combined over $20 billion to grab licenses in recent auctions of 3G and broadband wireless radio airwaves in the fastest-growing cellular market.
But, the dark horse was yet to arrive as Reliance Industries, controlled by billionaire Mukesh Ambani, made a dramatic return to the telecom business with the $1 billion acquisition of Infotel Broadband, which was the only company to win a nationwide license for broadband wireless spectrum in the government auction. The future plans for RIL are quite aggressive as well. They plan to invest about $5 billion in the venture over the next two years.
Considering that Alcatel-Lucent Chief Executive Ben Verwaayen had mentioned in June that they are considering setting up their global services headquarters in India which would require an investment of $500 million in investments over three years, Mukesh Ambani may be the jack of the pack amongst its competitors.
All these decisions though are facing issues regarding Regulation Concerns as India has India tightened rules for telecom gear imports saying vendors must allow inspection of their equipment and made carriers solely responsible for the security of their networks, addressing security worries that had led to restrictions on Chinese manufacturers. Such regulation norms are proving to be bottlenecks in the process.
Alcatel-Lucent is a pretty huge player in the field and it would be quite beneficial for Reliance Industries if this deal goes in their favor and will soon be fierce contenders for Bharti Airtel for the top slot in the mobile communication industry.

The jewellery retail subsidiary of Reliance Retail, Reliance Jewels heightens the feeling of being free with some attractive offers. With a wide range of jewellery, backed by the assurance of hallmarked gold and certified diamonds and fine shopping ambience, now experience freedom from Making Charges of Jewellery with Reliance Jewels.

Reliance Jewels is offering NO MAKING CHARGES on select Diamond jewellery, Kundan, Polki and designer Antique jewellery. To enrich the sense of liberty it is offering 25%- 50% OFF on making charges of Diamond Jewellery and 5%- 20% OFF on Gold Jewellery making charges. This will enable the customers to get the best buy on any kind of jewellery they always craved for. The offer will be valid for a limited period until August 31, 2010.

Reliance Jewels offers the widest range of designs in Gold, Diamond and Bridal jewellery, carefully selected and designed from every corner of the country to suit the customers discerning tastes. Reliance Jewels offers the finest quality of diamonds and the widest range of designs, ranging from daily wear to party wear, from diamonds for weddings as well as to celebrate every special occasion in a woman’s life.

Reliance Retail is leaving no stone unturned in tapping the lucrative jewellery retail industry in India. With a well established position in various positions including Bangalore, Ahmedabad, Hyderabad, Gurgaon, Ludhiana, New Delhi and Mumbai, it is gearing up to spread its reach across all major cities of India. Reliance Jewels takes pride in claiming that it masters the art of bringing the best designs of 100% BIS certified gold jewellery and stunning pieces of diamond jewellery. The store provides more than 10,000 exclusive variations of jewellery designs including traditional Amritsari jadau, Ruby and emerald collections and displays a huge range of modern and antique designer collections to give world-class experience to its customers.

LONDON — Reliance Industries has resumed drilling of the KGV-D3-W1 exploration well on the KG-DWN-2003/1 (D3) license in the Krishna Godavarai basin offshore eastern India.

The Transocean rig Frontier 534 is drilling the well in a water depth of 1,653 m (5,423 ft), according to partner Hardy Oil & Gas. The target depth of the well, designed to test the hydrocarbon potential of Mio-Pliocene sands, is 3,514 m (11,529 ft) MD.

The KGV-D3-W1 was spudded April 2 by Transocean’s Deepwater Expedition, but had to be suspended at the end of May, at a depth of 2,608 m (8,556 ft) MD, due to an unresolved problem with the rig’s BOP control system.

Reliance Industries plans to reopen all of its fuel stations in the country and is currently selling petrol and diesel at the same rates as state firms, a company statement said on Wednesday. Reliance, which operates the world’s biggest refining complex at Jamnagar in Gujarat, shut down its petrol pumps in 2008 as crude prices surged towards $150 a barrel.

At the time the Indian government subsidized fuel sales by state firms, knocking private retailers out of the market. “If the government announces diesel deregulation then diesel, like petrol, will also be available at market rates. Further to this Reliance will resume operations across all pumps, pan India,” the Reliance statement said. Retail sale of petrol and diesel are again viable since the end of June when the government lifted all controls on petrol and raised administered prices of other fuels including diesel. Reliance owns more than 1,400 fuel stations in India.

The government plans to free diesel prices also, but the deputy chairman of the Planning Commission told Reuters in an interview the government would set diesel rates for the next few months. Essar Oil, the only other private refiner in India, and Reliance had together captured about 17 percent of domestic retail market for diesel and accounted for 10 percent of petrol sales by 2005 before they were forced to shut down their pumps.

“Now, with the deregulation of petrol, there is a level playing field and Reliance petrol will now be sold at the same price as that of the other oil companies,” the statement said.