Posts Tagged ‘mukesh ambani’

RIL See Retail Sector as Major Value Creator : Ambani

RIL See Retail Sector as an Major Value Creator : Ambani

Reliance Industries has identified retail sector as an important component of its five-platform roadmap for value creation.


The other value creators include conventional and renewable energy space, innovation and rural transformation, RIL chairman Mukesh Ambani said.

Reliance’s efforts would be on expanding the edifice created by Reliance Retail at the customer end and reinforcing supply chain and logistics,” the chairman said.

Ambani added that Reliance Retail would expand to new cities, markets and form strategic alliances.

This would be done through nearly 1,000 stores, while it has 900 stores across 86 cities.


The retail company has run up losses over Rs 450 crore in last fiscal.

Ambani said RIL would diversity its conventional energy space with new accumulations in three years.

RIL proposes to accelerate their campaign in the Krishna-Godavari basin,as per the chairman.

Meanwhile, the gas production levels have crossed six billion cubic metres and the D6 field is slated for plateau production by the second half of the year 2010.

Oil production from the D26 field has 2.8 million barrels with daily peak production expected by the end of the year.


With current cash balance of nearly Rs 19,420 crore, the company expects to be debt free in 21 months, Ambani said.

Even in difficult economic environment, RIL’s capital expenditure was Rs 24,713 crore ($4.9 billion).


However, the stock market was not enthused.

On the BSE, RIL stock saw a marginal drop of 0.65 per cent to close at Rs 2,133.75 per share.

“Whatever Mr Ambani has said is old. There is nothing to cheer investors.However, overall sentiment is positive.”

Jagannadham Thunuguntla, head, SMC Capital, and other market analysts feels so.


Statements by Ambani Brothers Pushes Shares Up

Statements by Ambani brothers nudge shares up

Statements by Ambani brothers nudge shares up

The shares of companies in the respective stables of the two feuding Ambani brothers opened on a higher note Monday, a day after the olive branch from younger Anil, that was welcomed as a “positive indicator” by Mukesh.


Reliance Natural Resources, the energy arm of Anil Ambani group that is fighting a legal battle on gas supplies with the Mukesh-led group, was ruling at Rs. 86.35 with a gain of 4.04 percent, an hour into trading, after touching a high of Rs. 87.15.

Reliance Industries, the flagship of the Mukesh-led group, was quoting 1.58 percent higher at Rs. 2,133 after touching Rs. 2,140.00, data with the Bombay Stock Exchange (BSE) showed.


Analysts said though the movement forward was positive it was more in the form of a token rise, as many issues remained unresolved, including the crucial matter over supplies of gas from Reliance Industries to the Anil Ambani group.

“There are too many ifs and buts,” said Jagannadham Thunuguntla, equities head of leading brokerage and capital markets consultancy SMC Capital.

“Till the market gets a clear indication, these developments may not make too much of an impact.”

After a pilgrimage to two holy shrines Sunday, Anil sent a conciliatory message to elder brother Mukesh, saying there was ample scope to end their dispute amicably.

“There can be no better gift to my mother, Smt. Kokilaben Ambani, in her 75th year, and to the legacy of our beloved father, Shri Dhirubhai Ambani, the proud creator of the Reliance Group,” Anil said after the pilgrimage to Badrinath and Kedarnath.


The move was welcomed by the other side, which said there can be no contentious issue that cannot be resolved by mutual dialogue.

But the statement by Reliance Industries also made it clear that the dispute over gas has to be settled by the Supreme Court.