Archive for September, 2010

Urbane Nita Ambani‘s joy ride

September 29, 2010

Often referred to as the ‘Empress of India”, Nita Ambani grew up in the suburbs of Mumbai. Nita Ambani, daughter of a senior Birla executive, always had keen interest in Indian classical dance and wanted to pursue a career in dance. While her mother aspired for her to become a chartered accountant but she wanted to pursue a career in dance. Nita Ambani who holds qualifications as a teacher and an interior designer is a Commerce Graduate from Mumbai University.

With motto, ‘Dare to Dream. Learn to Excel’, Nita Ambani heads Indian as well as an international curriculum based school Dhirubhai Ambani International School. This school aims to develop a new model for education at the school level in India. Nita Ambani has been working tirelessly in order to raise the living standards of the underprivileged and needy as part of the Dhirubhai Ambani Foundation. She has supervised the development of villages around the Reliance projects personally along with taking a keen interest in the upliftment of people in the vicinity. Appreciating her phenomenal qualities of leadership, selfless service and innovative ideas, Nita Ambani was awarded with the Samaj Seva Vishwa Bhushan award.

Nita Ambani is married to Reliance Industries Limited’s chairman and CEO Mukesh Ambani. She is a proud mother of a lovely beautiful daughter Isha, and two sons, Anant and Akash. Nita Ambani, proud of the presence of compassionate streak in her kids, instills Indian traditional values in them. She believes that if her kids are anchored to such roots, it will resonate in their personality. Nita Ambani strongly believes that service to humanity is service to God. And it is this very fundamental lesson that she imparts to her three children.

Nita Ambani dons many hats as the Chairperson of DAIS, co-owner of Mumbai Indians, first lady of Corporate India, an educationist, social worker and many more. Nita Ambani always values any initiative or institution that sprinkles hope and brings new sparkle and smiles to the lives of those who are not as blessed. For Nita Ambani educating and empowering these children and embedding self-esteem in them, is a joy forever.

Nita Ambani is sure of her role and confident of playing it to perfection. As a heavy duty power lady, Nita Ambani is all set to assume fresh responsibilities on all levels. Nita is a definition of calmness. Wife, mother and businesswoman, are some of the many roles that India’s first corporate lady dons 365 days a year.

From a normal childhood in Santacruz to becoming a part of the country’s biggest corporate household, Nita Ambani has dealt with numerous twists and turns of life. Perhaps Vicerine is an appropriate title for her!

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Mukesh to Drive the EIH Wagon Home

September 24, 2010

The Star has struck again. The Commander of the Reliance Industries brigade is soon to become the hospitality leader as well, the reason being that he will now be the majority shareholder in EIH, at par with the Oberoi Group.
Reliance Industries Ltd (RIL) and the Oberoi family will increase their shareholding in East India Hotels by buying the unsubscribed portion of the Rs 1,300-crore rights issue, which was cleared by the hotel major’s board today. EIH has decided to form a committee to decide on the rights issue price, ratio and other procedural formalities.
It has been confirmed by dependable sources that RIL will be making an open offer after the rights issue, as its stake will go beyond the 15 per cent threshold mandated by the market regulator. And hence, RIL and the Oberois will eventually have an equal stake in EIH.
The impact of the Mukesh Ambani’s acquisition of a 14.8 per cent stake in EIH has had the share of the Oberoi’s drop down to 32 per cent from 46.43 per cent in August. Also, ITC, which holds 14.8 per cent, may not be interested in raising its stake. Similarly, Analjit Singh, who controls 4 per cent, will also prefer to exit EIH.
It has also been in news that EIH is planning to float two new companies. One would operate the hotel chain and would be controlled by EIH, while the other would hold the hotel chain’s assets and be controlled by RIL, with Nita Ambani, wife of RIL chairman Mukesh Ambani, drafted as vice-chairperson.
This is the icing on the cake for Mukesh Ambani as RIL will be in the driver’s seat as far as ownership of EIH is concerned, while the Oberois will operate the hotel chain. “It’s a deal between two friends – P R S Oberoi, who needs funds to expand his chain’s footprint abroad, and Ambani, who has the funds, and is happy to let the Oberoi family manage operations,” said a source.
The Oberoi’s, who are the pioneers of luxury hospitality in India, also manage the EIH Associated Hotels. This is another hotel company which is an equal-stake joint venture between them and the Raheja family, which has interests in real estate, the media and industrial batteries.
Now, with this rise in stake in the hospitality sector by RIL, Mukesh Ambani has made it pretty clear that his plans in the sector are long term and only time will tell how Reliance will be makes the best out of this venture as well.

Reliance Trends makes India play with ‘Play India’

September 16, 2010

Reliance Trends kicked off Play India, a sportswear festival across all its stores. To mark the sportswear festival, the apparel, luggage and accessories speciality format of Reliance Retail, Reliance Trends has announced the launch of its new private brand, Performax, an active sportswear brand with performance-enhancing fabrics at competitive prices.

The festival offers customers unbelievable schemes across its newly-launched brand, Performax, and also the existing active wear brand, Team Spirit and will go on till September 23, 2010

Performax, caters to those who play sports and the brand Team Spirit caters to sports lovers. Performax is powered with the latest technologies such as Quick Dry, Fly Weight, Zonal Venting, Compression and Reflective. It has a huge range for training, running, tennis, football, basket ball and cricket.
It also offers accessories such as caps, ergonomic socks, wristbands, headbands and gym bags.

Speaking on this occasion, Arun Sirdeshmukh, Chief Executive, Reliance Trends said, “With the launch of ‘Performax’ we have reiterated our leadership position in the fashion and value segment. Performax offers customers a wide choice of sportswear range with cutting edge technology and style at an unbelievable price. Many upcoming sportsmen cannot afford an international sports wear brand. We have made it even more accessible, offering the same technology and style.”

Besides the Play India festival, Reliance Trends is also reaching out to corporates in Bangalore, Hyderabad, Mumbai and Delhi to promote a healthy lifestyle with the Fastest Cyclist contest. Winners will take home gift vouchers from Reliance Trends.

Reliance Trends houses some of the best brands from various parts of the world including their collections. The store’s core principle is – ‘Fashion at great value’. It offers a mix of private brands across men’s, women’s and children’s categories. The collection offers high fashion, latest trends, cuts and styles and top-quality material backed by technology and innovation.

Reliance Trends Steps Up to Play With the Mumbai Indians

September 10, 2010

Reliance Trends, the Apparel, Luggage and Accessories specialty format of Reliance Retail kicks off its ‘Play India’ – Sportswear festival across all its stores. To mark the Sportswear festival, Reliance Trends has announced the launch of its new private brand, ‘Performax’ – A sportswear brand with performance enhancing fabrics at prices which are unbelievable and unheard of in this industry. The Sportswear festival that kick starts today will go on till September 23, 2010 offering customers unbelievable offers across its newly launched brand, ‘Performax’ and also the existing active wear brand, ‘Team Spirit’.
While brand ‘Performax’ caters to those who play sports and take it seriously, the brand ‘Team Spirit’ is for the enthusiasts who are more of watchers than performers. Performax is powered with the latest technologies such as Quick Dry, Fly Weight, Zonal Venting, Compression and Reflective. It has a huge range for different sporting and training needs ranging from Training, Running, Tennis, Football, Basket Ball and Cricket. It also offers accessories such as Caps, Ergonomic Socks, Wristbands, Headbands and Gym Sling bags.
Speaking on this occasion, Arun Sirdeshmukh, Chief Executive, Reliance Trends said, “Reliance Trends is a ‘Fashion at great value’ store that offers the latest fashion and high quality products at a very affordable price. With the launch of ‘Performax’ we have reiterated our leadership position in the fashion and value segment. Performax offers customers a wide choice of sportswear range with cutting edge technology and style at an unbelievable price. Many upcoming sportsmen cannot afford an international sports wear brand. But now with Performax, we have made it even more accessible, offering the same technology and style.”
Besides great offers, as part of the Play India festival, Reliance Trends is reaching out to corporate world in Bangalore, Hyderabad, Mumbai and Delhi to promote healthy lifestyle with the ‘Fastest Cyclist’ contest. Winners will take home gift vouchers from Reliance Trends.

Fourth Gas Discovery by Reliance Industries

September 1, 2010

Reliance Industries has notched a fourth successive gas discovery in the KG-DWN-2003/1 (D3) exploration block in India’s Krishna Godavari basin off eastern India.

According to partner Hardy Oil & Gas, well KGV-D3-W1 was drilled to a measured TD of 3,501 m (11,486 ft) at a water depth of 1,653 m (5,423 ft). It encountered a gross gas pay zone of 37.5m (123 ft) in Pliocene sands. The potential of the pay was evaluated by a wire-line modular pressure testing tool and via collection of gas samples. The partners are currently assessing the commerciality of the discovery dubbed Dhirubhai-52.

The D3 license covers an area of around 3,288 sq km (1,269 sq mi).

Hardy Chief Executive Yogeshwar Sharma said: “Four successive discoveries highlight the significant prospectivity of this extensive exploration block. The Krishna Godavari basin is an emerging world class basin for India. Further exploration drilling is planned in this area and we look forward to continuing to participate in unlocking of the basin’s exceptional energy potential.