Archive for December, 2010

RIL TAKES SOCIAL TO AN ALL NEW HIGH

December 30, 2010

Corporate social responsibility is an important mark of a well rounded and responsible organization and Reliance Industries has proved that they are the top of the hierarchy in both financial as well as social matters .A recent report by Hong Kong based brokerage firm CLSA has shown that industries like Reliance and ITC have the highest rating in Asia for their corporate social responsibility.

The ‘Ethical Asia’ report analyses the Corporate Social Responsibility efforts by over 50 companies in Asia and ranks them according to their performance. In a scale of 1 to 5, 5 being the highest, CLSA has given both ITC and RIL the rating of 5 points. There were 7 Indian corporate that were a part of this report and the average rating for the entire country was at 3.7. These ratings are based on various benchmarks like environmental impact, social impact, corporate governance and the transparency and level of detail in the CSR report presented by the company. Mukesh Ambani’s Reliance Industries is amongst the only 4 companies in Asia who have received a full rating of 5 points.

Social responsibility is at the crux of Reliance’s corporate plan and Mr. Mukesh Ambani has ensured that he takes steps to give back to the society and contribute towards its betterment. Over the course of the years that Reliance Industries has been functioning, Mr. Mukesh Ambani has organized various medical camps and funded charitable organizations which will help provide for the society as a whole. Mr. Mukesh Ambani aims to reduce the divide between the rich and the poor by creating more opportunities for the lesser privileged.
Concrete data and back up proof was one of the primary reasons why RIL received top ranking for their CSR efforts. This initiative is a great proof of top conglomerates aiming to give back to the society and extinguishing claims of the rich being greedy.

Advertisements

RIL ENTERS IN A JOINT VENTURE WITH RUSSIA’S SIBUR

December 22, 2010

India’s largest private sector company Reliance Industries Limited (RIL) and the leading Russian petrochemical company SIBUR announced on Tuesday a joint venture for the production of butyl rubber in India with investments worth $450 million, with RIL holding a majority stake in the venture. The agreement was signed yesterday as a part of the Russian President Dmitry Medvedev’s visit to India meant to establish collateral deals in the field of military and energy.
Joining in the latest Indo-Russian co-operation season, this decision by both parties will lead to establishment of a new joint manufacturing facility with an initial production capacity of 100,000 tonnes of butyl rubber at RIL’s integrated refining-cum-petrochemical site in Jamnagar, Gujarat, set to function from 2013. SIBUR will provide its proprietary technology for butyl rubber polymerization and finishing whereas RIL will supply monomers along with world-class infrastructure and utilities. Initial stages will see production of regular butyl rubber but as the facility is developed, newer variants will also be considered for manufacturing.
This joint venture is being seen as a significant step by Reliance towards catering to India’s ever-expanding automotive industry. By bringing in Russian technical fineness coined together with Reliance’s infrastructural excellence, a long standing demand of the Indian tyre and rubber industry will be fulfilled. SIBUR has unique technologies for the production of synthetic rubber and due to this venture not, only will it facilitate improvement in Indian rubber industry but also facilitate Reliance’s venerable vision to make India a significant player in global synthetic rubber industry.
Headed by Mukesh Ambani, Reliance’s efforts to develop and bring in technology that will enhance and pro-create improved utilities has for long been a noble prospect. Through this deal Indian rubber industry will see a global acceptance in terms of quality and technical advancement. For Indian rubber products companies, this deal will be equally fruitful with respect to introduction of Russian technical expertise in development of high-quality rubber.
After this deal, Indo-Russian season is definitely on a roll for some more collateral enterprising.

RIL IN THE FORTUNE INDIA 500 LIST

December 10, 2010

Industrialist Mukesh Ambani led Reliance India Limited (RIL) has ranked second in the Fortune India 500 list compiled by business magazine ‘Fortune’ in its December 2010 edition released on Thursday.
In the first-ever Fortune list of Indian companies, RIL contended one of the top spots second only to Indian Oil Corporation that managed the top slot as compared to State Bank of India and Bharat Petroleum Corporation who acquired third and fourth places, respectively. The list includes listed companies and privately-held firms and their rankings are based on the total revenues incurred by the organizations. Other evaluation check marks include year-on-year change in revenues, net operating income, profit, assets, net worth, dividend and total salaries.
Reliance Industries entry on the second spot is an encouraging feat for the corporation, which stands tall with its numerous outings and a successful business structure credited to its strong arm leader.
An average revenue of a company on the Fortune India 500 list standing at Rs.7,632.50 crore is an indicator of the massively growing Indian corporation structure that have managed to strategically mature along the lines of global corporate heads. “The total revenue of the Fortune India 500 companies stands at Rs.38,16,239.40 crore (nearly $850 billion). This is nearly 60% of India’s GDP”, quoted the magazine.
The list goes on to include Hindustan Petroleum, Oil and Natural Gas Corp, Tata Steel, Tata Motors, Hindalco Industries and ICICI Bank as its remaining slot bearers in the top ten list.
This list is a transparent gauge to indicate how much Indian companies have evolved and successfully grown into profit making corporations in the last decade. Joining now in the league of elite 500 corporations of the world, Indian companies, like RIL, have carved a successful share in the global market as the futuristic industrial moguls with an ambitious standing among the confederation of global giants.